GO
Loading...

Enter multiple symbols separated by commas

Dell Reports Declines in Earnings, Revenue

Tech bellwether Dell posted net income for its fiscal fourth quarter ended Feb. 2 of $673 million, or 30 cents a share, and revenue was $14.4 billion.

"We are disappointed with the company's results, but what matters is our future plan of action," said chief executive Michael Dell, in a prepared statement.

In the same quarter last year, Dell reported net income of $1.01 billion, or 43 cents a share, on revenue of $15.18 billion.

The company said it had a one-time benefit of 6 cents associated with a reduction in employee bonuses. In addition, it recorded a charge of 3 cents a share in connection with the ongoing accounting investigation, as well as a one-time gain of 1 cent per share on the sale of real estate.

On Jan. 31, Dell said Chairman Michael Dell would take over running the day-to-day operations of the company he founded in 1984, replacing Kevin Rollins.

In the same announcement, Dell also said it expected earnings-per-share and sales below Thomson First Call estimates, or 32 cents a share on sales of $15.30 billion.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • Hero miles for military members: Real estate magnate's plea

    Chairman of the Fisher House Foundation, Ken Fisher, discusses the Hero Miles program with CNBC's Dina Gusovsky. During Military Appreciation Month, Fisher is asking every traveler to donate 1,000 of their miles to replenish the Hero Miles programs that is in danger of running out.

  • Cramer shuts down this market's haters

    "Mad Money" host Jim Cramer on why this market can't stop, won't stop.

  • From the battlefield to the boardroom

    Your Grateful Nation is dedicated to helping Special Forces veterans enter the corporate world and Knot Standard provides complimentary suits to vets. Mad Money's Jim Cramer spoke with Rob Clapper, Your Grateful executive director; John Ballay, Knot Standard co-founder and president; Tej Gill, retired U.S. Navy Seal; and Darren McB, active duty U.S. Navy Seal.