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Dell disappoints, profits dropped 6% in Q4
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Posted on Thursday, February 28 2008 @ 23:35:30 CET by Thomas De Maesschalck |
Dell today reported disappointing financial results for the fourth quarter of fiscal 2008. The firm said it earned $679 million, or 31 cents per share, on a revenue of $16 billion. Year-over-year Dell's revenue grew more than 10 percent but profits dropped 6% from $726 million.
Analysts surveyed by FactSet Research had forecast Dell to earn 36 cents a share on sales of $16.24 billion.
Among the items that Dell said affected its earnings were $83 million in expenses related to the acquisition of two companies, EqualLogic and Everdream, and $54 million of expenses that were tied to severance costs, the closing of facilities and other business realignment operations.
Dell said that during the quarter, sales outside the U.S. rose 16%, to account for 49% of the quarter's total revenue. Sales in the America's region rose 8% to $9.5 billion during the quarter ended Feb. 1.
Dell also warned its results could be adversely impacted by more conservative spending by its customers. A slowdown of the US economy could have a big impact on Dell's earnings as the firm makes more than half of its revenue in the US. Dell's shares dropped 3.7% in afterhours trading.
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