Dell Says Internal Audit is Nearly Complete
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The company told the SEC it will delay filing an audited earnings report for the fourth consecutive quarter.
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Computer maker Dell Inc.   filed with the U.S. Securities and Exchange Commission on  Thursday to delay its third-quarter financial report, citing  ongoing regulatory investigations into its accounting and  financial reporting matters.
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(InfoWorld) - The Nasdaq stock market has granted a request from Dell toÂ extend a deadline for filing late reportsÂ with the U.S. Securities and Exchange Commission, the company announced. Dell now has until July 16 to file its past three quarterly earnings reports, called Form 10-Qs, and its annual report, Form 10-K, but the company will ask for more time as it continues an investigation into past accounting practices, said David Frink, a company spokesman. Nasdaq has warned that the company could face delisting for the delinquent reports. Asked what could happen if Nasdaq does not extend the deadline again, Frink said, "I'm not going to speculate on that." Dell has "every reason to believe" Nasdaq will review the request, and past precedence exists for an extension, he said. The SEC began an investigation into Dell's accounting practices last year, and the U.S. Attorney for the Southern District of New York has begun an investigation as well. Dell launched an internal audit and foundÂ evidence of misconduct and accounting errors. The company continues to comply with the SEC investigation, Frink said Thursday. The company is moving toward a conclusion of its internal investigation, he added. Nasdaq officials were not immediately available for comment on the Dell extension.
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SAN FRANCISCO - Dell is winning over Wall Street again - but some of its customers remain unhappy with the beleaguered PC giant. Dell on Thursday reported preliminary revenue of $14.8 billion for the quarter ended Aug. 3, up from $14.1 billion a year ago. The No. 2 PC maker also conceded that a shortage of laptop parts continues to prevent it from filling some orders.
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Dell Inc.  unveiled on Thursday quarterly earnings and revenue that topped analysts' expectations and plans to cut about 10 percent of its work force, sending its shares up 6 percent.
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Dell Inc.  comfortably  beat analysts' estimates for quarterly earnings on Tuesday as  it sold more laptops and increased sales in China and Europe,  sending its shares nearly 10 percent higher.
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Praveen Asthana, director of Dell storage, says his company is focused on reducing deployment costs and the complexity of storage so storage is as easy to install as servers are right now.
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Dude, you're not getting a filing Stumbling computer maker Dell has been forced to delay a second quarter financial report and to put its stock repurchase program on hold as it deals with federal and state accounting probes.â¦
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Dell Inc. DELL.O 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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Dell Inc.  has made progress  in its turnaround efforts but still has &quot;a long way to go&quot; to  spur personal computer sales and regain lost market share,  Chief Executive Michael Dell said on Tuesday.
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Michael Dell, who recently returned to the helm of the PC maker he founded, announces cost-cutting measures to employees in a memo.
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By The Associated Press  DALLAS - In a memo to Dell Inc. employees days after returning as chief executive officer, Michael Dell said the beleaguered computer maker is quashing bonuses for 2006 and reducing managers to help cut costs and steer the company back toward dominance.
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Dell will wipe the data clean before recycling small companies' computers and gadgets.
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OCTOBER 15, 2004 (IDG NEWS SERVICE) - Dell Inc. took the wraps off its holiday lineup on Thursday, showing new printers, plasma televisions and music players that will soon be available through its Web site.
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(InfoWorld) - In a bid to reassure nervous investorsÂ in the wake of a federal investigationÂ and aÂ battery recall, Dell executives have announced a corporate overhaul dubbed "Dell 2.0." The strategy calls for Dell to recover from slumping profits by making a series of basic changes, such as building factories closer to emerging markets, and putting more emphasis on industrial design, Chief Executive Officer Kevin Rollins said Tuesday in New York at Dell's annual Technology Day. "We've spent the last 22 years following the Dell business model, but as the marketplace changes, the needs and desires of our customers have also changed," Rollins said. "We are re-evaluating every aspect of our business model, from supply chain and design to customer service and support." Dell is suffering through a brutal stretch. The company announced on Monday that it would delay filing its quarterly Form 10-Q because an investigation by the U.S. Securities and Exchange Commission had raised the possibility Dell might have to restate past quarterly earnings figures. And in August Dell worked with the Consumer Product Safety Commission to recall 4.1 million laptop batteries with a defect that could cause them to overheat and possibly catch fire. Under its new plan, the company will form a team of 60 designers by the end of 2006, dedicated to improving the design and usability of Dell PCs instead of focusing solely on price and performance. And the company has already begun to move away from its centralized production model by building PC factories in emerging markets like Brazil, India and Central Europe, he said. In other aspects of the overhaul, Dell said in July it wouldÂ begin using consistently low prices instead of complex rebates, and said in June it would offer enterprise-scale IT management to midsize companies under a Platinum Plus services plan. The strategy extends to products, too. Under the new strategy, Dell will continue to design PCs with chips from Advanced Micro Devices Inc. (AMD). Until recently, Dell had used only Intel Corp. processors, but this week launched two AMD-powered desktops and plans to sell AMD-based servers by the end of 2006. Dell's transition to a two-processor company is harder than simply swapping chips, said Chief Technology Officer Kevin Kettler. As Dell engineers create AMD-based PCs, they face a host of challenges -- testing and evaluating the systems, creating a logistics plan to supply processors to factories worldwide, and fitting the new components into their supply chain management plans. "Any time you bring on a new vendor to introduce a major piece of silicon, there's a natural process of aligning the new technology with our products," Kettler said. "I personally have worked for seven years with AMD on Dell's behalf, driving Opteron technology into the server space. This is not a short term, one-product-and-out deal, but a long-term relationship." In another design-centric change, Dell will join Hewlett-Packard Co. and Lenovo Group Ltd. to use DisplayPort, an interface standard that enables high-speed, two-way communications between PCs and displays. The new specs were approved in May by a governing body called the Video Electronics Standards Association. Under current technology, engineers use graphics controllers inside PCs and TVs to send signals to either digital or analog monitors ranging from CRTs (cathode ray tubes) to LCDs (liquid crystal displays) and plasma screens. "Those interfaces all just evolved, so you need to do development over three different interfaces with a multitude of technologies, and you can't take advantage of shared resources," said Kettler. In contrast, the new standard will use PCI (Peripheral Component Interconnect) Express interface to forge a "direct drive" link between the PC and monitor, always keeping the information in digital format. That will allow designers to build displays with embedded cameras and microphones, and will also preserve digital rights management, ensuring that data flowing across the cable can be only displayed, not copied, Kettler said. Â
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"OK" results aren't good enough for Dell anymore. That's great news.
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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.