Dell's profit fell 63 percent

Posted on Friday, May 29 2009 @ 23:46 CEST by Thomas De Maesschalck
Computer builder Dell saw its quarterly net profit decline by 63 percent year-over-year to $290 million last quarter. The company reported sales of $12.3 billion, a 23 percent drop from the same period a year earlier.
>i>Dell said net profit fell to 290 million dollars, or 15 cents per share, in the first quarter of its fiscal year from 784 million dollars, or 38 cents per share, in the same quarter a year ago.

Wall Street analysts had forecast earnings of 23 cents per share.

Revenue declined 23 percent during the February-April period to 12.3 billion dollars, the Texas-based company said, slightly lower than the 12.7 billion dollars forecast by analysts.

Dell managed to keep expenses in line with expectations despite costs of recent restructuring.

"We're continuing to transform the company on the cost side and delivering strong cash flow," chairman and chief executive Michael Dell said.
More details at AFP.


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Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.



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