Dell profits soar 25% in 3d quarter
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DALLAS -- Dell Inc. said its profit surged 25 percent in the third quarter as the world's largest personal computer maker posted record sales due to rising technology spending in the corporate and government sectors in the United States and abroad.
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Still gasping fromÂ the resignation of its chief executiveÂ in January andÂ an ongoing investigation of its accounting practices, Dell reported fourth quarter profits of $673 million, down sharply from the $1 billion it reported for the same period last year.
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Dell Inc. , the world's second-largest personal computer maker, reported on Tuesday quarterly earnings per share that topped Wall Street's average estimate, sending its stock up nearly 10 percent.
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Contract electronics manufacturer  Flextronics International Ltd  posted an adjusted third  quarter profit that beat Wall Street forecasts on Tuesday, and  reaffirmed its earnings and sales forecasts, sending its stock  up nearly 5 percent.
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Just two weeks after revealing that some employees had falsified corporate revenue to meet earnings targets, Dell Inc. reported a profit of US$733 million for its fiscal 2008 second quarter, up 46 percent from its mark of $502 million for the same period last year.
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Shares in US computer giant Dell rise 10% in early trade, buoyed by strong earnings news.
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Dell Inc., the largest personal-computer maker, has reported third-quarter profit jumped 25 percent as US business customers boosted spending on PCs and demand from foreign
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(InfoWorld) - Dell Inc. Tuesday pointed to its adoption of processors from Advanced Micro Devices Inc. (AMD) for pushing it to US$677 million in profit for the third quarter, though the company has delayed reporting final numbers due to an accounting investigation by the U.S. Securities and Exchange Commission (SEC). Dell's preliminary results mark anÂ improvement over the third quarter last year, when it reported $13.91 billion in revenue and a profit of $606 million. Dell reported revenue of $14.38 billion for the quarter, which ended Nov. 3, 2006. Dell did not offer an official comparison to the year-earlier figures, however. Dell reported earnings of $0.30 per share for the third quarter in 2006, beating the estimates of analysts who had expected Dell to earn $0.24 per share on revenue of $14.44 billion, according to a survey by Thomson Financial. The company was scheduled to report its earnings last Thursday, but delayed the move because it was trying to cooperate with investigations by the SEC and the U.S. Attorney for the Southern District of New York. Company leaders had cited the same reason after they missed a deadline for notifying the SEC of their second quarter earnings. They have still not filed that report, called a Form 10-Q. Company executives were not available to comment on the results. The company filed the numbers in a press release only, skipping the traditional conference call with reporters and analysts. Dell pointed to its success in selling computers powered by AMD processors for its impressive numbers. After missing its earnings target for the first quarter, Dell said in May it would finally diversify from selling computers with chips from Intel Corp. Still, Dell is having a rocky year. In June, Chief Executive Kevin Rollins promised to rebound from weak earnings by investing $100 million in customer service and by using fewer rebates in setting PC prices. But in August, Dell was forced to recall 4.1 million defective laptop batteries. Next, Dell acknowledged it was under investigation by the SEC, and, last week, lost its status as world's largest PC vendor to rival Hewlett-Packard Co.(HP). HP turned up the pressure last week when it reported net income of $1.7 billion for the fourth quarter, more than four times its mark for that period last year. Â
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Shoe retailer DSW Inc.  on  Wednesday reported a quarterly profit that rose 65 percent,  beating Wall Street forecasts and sending its shares up as much  as 4.6 percent in morning trading.
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Dell Inc , the world's second-largest personal computer maker, said on Thursday its profit rose a higher-than-expected 46 percent as it benefited from lower costs for computer components.
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Dell Inc.  on Thursday reported a higher quarterly operating profit, but slow holiday sales and a new growth target that disappointed Wall Street sent its shares down 3 percent.
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NEW YORK - Dell Inc., the worldâs largest personal computer maker, Thursday posted a higher quarterly profit, helped by market share gains and lower component costs despite slowing demand for corporate PCs.
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Computer giant Dell sees profits rise 25%despite slowing momentum in the PC market, as laptop sales soar.
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NEW YORK, November 12  - Dell Inc (DELL.NAS), the world&#39;s largest PC maker, has reported 25% growth in its third-quarter profits this year, boosted by continued market share gains and reduced PC component costs.
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(InfoWorld) - Just two weeks afterÂ revealing that some employees had falsified corporate revenue to meet earnings targets, Dell reported a profit of $733 million for its fiscal 2008 second quarter, up 46 percent from its mark of $502 million for the same period last year. The strong result was driven by sales to enterprise customers, an increase in the selling prices of Dell PCs, and a drop in component costs, the company said. Dell recorded revenue of $14.8 billion for the quarter ending Aug. 3, generating earnings of $0.32 per share. Both figures were above Wall Street expectations of $14.63 billion revenue and $0.30 earnings per share, according to analysts surveyed by Thomson Financial. However, Dell warned investors to be cautious when comparing the figures to past quarters because the company plans to restate its earnings for the past four years. Dell plans to revise its quarterly and annual financial statements for fiscal 2003, 2004, 2005, 2006, and the first quarter of 2007. The company also plans to share a number of earnings reports it delayed filing during its internal investigation of the accounting fraud, including the last three quarters of fiscal 2007 and the first quarter of fiscal 2008. The Nasdaq stock market has given Dell a deadline of Nov. 12 to file those reports in order to meet requirements for a publicly traded stock. In addition, the U.S. Securities and Exchange Commission (SEC) plans to continue its own investigation of Dell's bookkeeping practices. Dell's accounting problems were more than a mere distraction, costing the company $59 million to pay for its internal audit over the past quarter. Also detracting from its profit was $102 million in stock option payments, the company said. Despite its troubles, Dell is making progress on a long-term plan to reduce its operating expenses, CEO Michael Dell said in a statement. The company will do that through layoffs, improved productivity, and investments in its infrastructure. In May,Â Dell announced it would lay off 8,800 people, about 10 percent of its workforce. Over the past quarter, the company has made a series of acquisitions, includingÂ ASAP Software, SilverBack Technologies, andÂ Zing Systems. In recent months, Dell has also made a major change in its business plan by augmenting its online direct-sales model with deals to sell its PCs through retail partners such as Wal-Mart in North America and South America, Bic CameraÂ in Japan, and Carphone Warehouse in the U.K.
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Dell had its biggest rally in more than three years and consumers remained confident before the holiday shopping season.
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SAN FRANCISCO - Dell Inc. continued to outpace the rest of the IT industry in the company's third quarter with sizzling growth in shipments, revenue, and net income adding up to the best quarter yet for the hardware vendor, the company said Thursday.