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Home > Plugged In > Archives > 2008 > February > 28 > Entry
Dell profit, revenue miss Wall Street expectations
Dell Inc. reported lower-expected revenue growth in the fourth quarter, and its profit dropped 6 percent from the same period last year as the company continued its restructuring and closed two recent acquisitions.
Dell’s revenue was $16 billion in the quarter, up 10 percent from last year. It reported net income of $679 million, or 31 cents a share, down from $726 million, or 32 cents a share last year.
Excluding several one-time charges and gains, Dell’s earnings would have been 34 cents per share. Analysts polled by Thomson First Call expected an average of 36 cents a share on revenue of $16.2 billion.
Dell also said it has laid off 3,200 employees worldwide over the last eight months, part of an ongoing plan to reduce its global workforce by 10 percent. The company did not say whether it planned to reach the 10-percent target, and a spokesman declined to say how many of the layoffs have occurred in Central Texas.
Dell employed 88,200 people as of Feb. 1, when its fiscal year ended. That was down about 800 jobs from the same time last year. Although Dell has cut jobs, it also has added some workers through buying other companies.
The company generated $1.2 billion in cash from operations in the fourth quarter, but its total cash and short-term investments dropped to $9.5 billion from $14.5 billion at the end of the third quarter. Dell said it used about $4 billion of its cash balance to buy back stock during the quarter.
For the full fiscal year, Dell reported revenue of $61.1 billion, up 6 percent from the year before. Profit was $2.9 billion, or $1.32 per share, up 14 percent from $2.6 billion, or $1.14, the prior year.
Comments
Commenting is now closed for this entry.
By Darth Vader
February 28, 2008 8:17 PM | Link to this
Your failure is almost complete Obi-Dell. Sounds like it is time to lay off some of your incompetent employees. Oh yeah, that is the only kind of people that work there! HP RULES Dude!
By Darth Maul
February 28, 2008 8:44 PM | Link to this
Yes the failure is almost complete my master. HP RULES [http://www.hp.com]
By Darth Maul
February 28, 2008 8:44 PM | Link to this
Yes the failure is almost complete my master. HP RULES (http://www.hp.com)
By Darth Maul
February 28, 2008 8:44 PM | Link to this
Yes the failure is almost complete my master. HP RULES (http://www.hp.com)
By Unemployed
February 28, 2008 9:32 PM | Link to this
Missed earnings always leads to layoffs. Secure that a new job before all ex-Dell workers flood the market!
By bigdog
February 28, 2008 9:43 PM | Link to this
Hey Darth Vader, et al I guess I need to remind you that many ex-Dell employees now work at HP. Including your CIO - be careful about where you throw your stones.