Dell audit probe almost over
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Talks to SEC Computer maker Dell told the Securities and Exchange Commission (SEC) late last week that it has nearly completed its internal accounts probe.â¦
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By Bloomberg, AP and Staff Reports  Dell Inc., the world's largest personal-computer maker, may be delisted from the Nasdaq Stock Market because of a delay in filing its quarterly report.   Dell plans to request a hearing to respond to a Sept.
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The investigation into the disappearance of a British girl from a southern Portuguese resort last year is nearly over, Portugal's justice minister said Wednesday.
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Computer and server maker Dell Inc. said Thursday it is delaying the filing of its full third-quarter results as it continues to investigate some of its accounting practices.
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(InfoWorld) - Dell will lay off 10 percent of its 78,800 workers, in a continuing effort to improve profits as the company also completes an investigation of accounting fraud, it said Thursday. Dell will make the layoffs over the next 12 months, including workers throughout its geographic regions, customer segments, and job functions, the company said in a statement. The move is part of a corporate cost review spanningÂ product developmentÂ and procurement,Â service, and support delivery. While layoffs are difficult, "we know these actions are critical to our ability to deliver unprecedented value to our customers now and in the future," company CEO Michael Dell said in a written statement. The company also announced it made $759 million in profit for the first quarter of its 2008 fiscal year, down slightly from the $762 million it earned for the same quarter last year. Dell reported revenue of $14.6 billion and earnings of 34 centsÂ per share, both well above Wall Street expectations of $13.95 billion in revenue and 26 cents earnings per share, according to analysts polled by Thomson Financial. Despite itsÂ success in beating the financial forecast, Dell also said it had spent $46 million in the last quarter on expenses for the investigation into accounting and financial reporting. Dell began an internal study of its books because of questions raised in 2006 by the U.S. Securities and Exchange Commission (SEC). Dell blamed that situation for its decision to file only preliminary results Thursday, marking the fourth consecutive statement that the company has not filed an audited, official earnings account. Those missing statements have also forced Dell to fight to keep its stock listed on the Nasdaq exchange, which requires all public companies to file audited Form 10-K papers in order to be publicly traded. Dell has already won several extensions of a deadline to supply those numbers, and on May 4 it asked for even more time to meet the conditions.
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PC maker Dell unveils forecast-beating results, six days after an accounting probe delayed its report.
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Dell completed an internal accounting investigation Tuesday and&#160;restated its financial results&#160;from fiscal 2003 to the first quarter of 2007, bringing it into compliance with listing requirements specified by the Nasdaq stock exchange.For the restatement period, Dell cut its cumulative net income by $92 million from a previously reported net income of $12 billion, said Dell spokesman Bob Pearson. The cumulative change to earnings per share was $0.03 from the previously reported $4.78, he said.Dell also reduced revenue by $359 million from the previously reported $196.2 billion for the restatement period, Pearson said.While it was carrying out its own probe of accounting problems during the quarter and under investigation by the U.S. Securities and Exchange Commission (SEC),&#160;Dell faced delisting&#160;on the Nasdaq multiple times for failing to file earnings reports to the SEC on time. The&#160;SEC is still investigating Dell&#160;for certain periods prior to fiscal year 2006. Dell will continue to cooperate and work with the SEC on the investigation, Pearson said.Among a string of filings Tuesday, Dell said in a 10-Q/A filing for the quarter ended May 5, 2006, that it recognized the wrong amount of revenue from certain transactions or recognized revenue in the wrong period. In some cases, Dell prematurely recognized revenue before it settled the terms of sale with a customer, Dell said in the filing.Dell is trying to restructure amid the accounting scandal, personnel changes, and slow growth in the U.S. PC market. In January,&#160;Michael Dell returned as CEO&#160;after Kevin Rollins resigned in an effort to revive the company. In May, Dell announced it would cut 10 percent of its workforce. It is also battling Hewlett-Packard, which is closing in on Dell&#39;s position as the leading U.S. PC vendor, according to a recent IDC study.
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Dell, the computer maker, said Tuesday that its chief financial officer was stepping down as the company faces two federal investigations into its accounting practices.
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The long-running inquiry into Kenya's biggest financial scandal is ended after some 300 days.
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Prosecutors said yesterday they were investigating an accounting fraud of almost 2 trillion won ($1.7 billion) at Hynix Semiconductor that began in 1996 and ended in 1999.
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The SEC is still investigating Dell for certain periods prior to fiscal year 2006, although the company is now in compliance with the Nasdaq stock exchange.
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Dell Inc. (NASDAQ: DELL) announced today that it is delaying the filing of the Form 10-Q for its fiscal second quarter ended August 4, 2006.    The company said it is unable to file because of questions raised in connection with the previously announced informal investigation by the U.S.
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Dell Inc.  said on Thursday it  received a delisting notice because it was late in filing a  quarterly financial report and plans to request a hearing  before a Nasdaq panel.
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(InfoWorld) - Dell plans to report its third quarter financial results later today once the U.S. stock market closes, after delaying the announcement by nearly a week due to accounting troubles. The PC maker had previously planned to file its earnings on Nov. 16, but said it wasÂ sidetracked by ongoing investigationsÂ from its own internal audit committee and by the U.S. Securities and Exchange Commission (SEC) into certain accounting and financial reporting matters. The accounting issues come at an awkward time for Dell. The company has reported a string of disappointing financial quarters, and recentlyÂ lost its title as the world's largest PC vendorÂ to Hewlett-Packard. Dell also faces some pressure to report solid earnings on Tuesday, since HP last weekÂ reported its net profit quadrupledÂ compared to a year earlier. Dell plans to release a third quarter earnings statement on Tuesday, but does not plan to host a conference call, it said in a statement. Future earnings announcements will be pushed back by a week compared to Dell's previous schedule. Last week, Dell announced that anÂ SEC inquiry into its accountingÂ had become a formal investigation. The PC company vowed to cooperate with the investigation and regain compliance with all SEC filing requirements as soon as possible.ADVERTISEMENTNEW IT SERVICES FROM IBM: EASIER TO BUY AND IMPLEMENTDiscover a simpler, more cost-effective way to get the solutions your company needs to grow more flexible and efficient.
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An investigation of IBM Corp. by the Securities and Exchange Commission ended Tuesday without penalty, although the government found that the technology company misled analysts about employee stock-option expenses in 2005.
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About 4.4 million now under recall; firm says units can overheat, possibly causing fire or shock. NEW YORK (CNN/Money) - Dell Inc.
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â¢ 2004-11-09 â¢ Microsoft has recently said that it had finally laid to rest the anti-trust case against it in the US, when it reached an agreement with the Computer &amp; Communications Industry Association (CCIA), the final group seeking to overturn its