Dell delays financial report amid US probe
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DALLAS -- Dell Inc., the world's largest PC maker, has delayed filing its fiscal second-quarter financial report and suspended its share-repurchase program because of an ongoing federal accounting probe.
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Electronic Data Systems Corp., the world&#39;s second-largest seller of computer services, delayed the release of third-quarter earnings while it reviews the value of a contract with the US Navy.
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Tommy Hilfiger Corp. said Wednesday it would delay the filing of its quarterly report while it reviews issues related to a US government investigation.
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Dell told government regulators on Monday that it cannot file a financial statement for its 401(k) plan, as the company continues to struggle with an investigation of its accounting practices.
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Dell said that it was delaying the filing of its second-quarter financial report as it works to cooperate with a widening investigation into its accounting practices.
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Dell announced early this morning it has received a notice from the NASDAQ stock exchange threatening the company with a possible de-listing if it continues to delay the filing of its quarterly 10-Q report.  Dell remains the target of an SEC probe, and may have to restate its earnings back several years.
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Electronic Data Systems Corp., a provider of outsourced computer services, said Wednesday that it is further delaying the release of its third-quarter earnings pending a review of charges related to its Navy Marine Corps Intranet account.
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Likely to miss SEC deadline, could de-listing follow? Dell will once again hold back filing its 2007 financial statements to the US Securities and Exchange Commission (SEC) because it is yet to complete an internal investigation into its accounting practices.â¦
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Dell Inc DELL.O Chairman Michael   Dell threw his support behind Chief Executive Kevin Rollins on   Tuesday, a day after the computer maker canceled an analyst   meeting and suspended a buyback program amid an accounting   probe.
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Computer maker Dell says it has delayed filing its second-quarter results because of an inquiry into its accounts.
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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 MATT SLAGLE  DALLAS - Dell Inc., which is the subject of a federal probe into its finances, said Thursday that fourth-quarter profits plunged 33 percent due to weak sales of laptops and notebooks, which account for the lion's share of its revenues.
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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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In SEC filing Thursday, computer maker again says delay is result of ongoing investigations into accounting and reporting matters.
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NEW YORK - 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 Inc. has delayed filing its quarterly earnings report with the U.S. Securities and Exchange Commission (SEC) and may have to restate past earnings statements, the company said Monday. Dell's board of directors began an internal financial audit after learning in August 2005 that the SEC had begun an investigation of the company's revenue recognition and accounting practices for past fiscal years, Dell executives acknowledged Aug. 17 while announcing preliminary results for the second quarter. Since then, Dell learned of a second investigation when the U.S. Attorney for the Southern District of New York subpoenaed the company's financial reporting documents for the years from 2002 through today, said Dell spokesman TR Reid. Neither the SEC nor New York State has announced the results of their investigations, but Dell's internal audit has now revealed that the company may have misstated prior financial reports, including accruals, reserves and other balance sheet items. Until it settles those questions, the company cannot file its SEC Form 10-Q, which confirms its quarterly results, Reid said. Those preliminary results were bad even before Monday's news. Dell earned only US$502 million in profits for the second quarter of 2006, a drop of 51 percent below that period last year. The decline was a casualty of cutting prices in a slow market, Dell Chief Executive Officer Kevin Rollins told analysts in August. Dell, the world's largest PC vendor, has felt increasing competitive pressure from Hewlett-Packard Co. at the same timeÂ chip makers like Intel Corp. have been cutting prices on processors, helping to drive down PC prices. And on Aug. 14, Dell announcedÂ the largest recall of consumer electronics in U.S. history, recalling 4.1 million notebook batteries that suffered from a defect causing them to overheat and sometimes catch fire. Dell is cooperating with both investigations and "will take any appropriate remedial or corrective actions to address any problems," company chairman and founder Michael Dell said in a release. The company has also suspended its share repurchasing program and a meeting with analysts scheduled for Sept. 13. Â
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By Crayton Harrison, The Dallas Morning News  Dec. 16--Dell Inc. is awaiting a panel's decision on whether its stock will continue to be listed on the Nasdaq stock market, the company said Friday.