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Dell Third Quarter Earnings up 27%
Nov 30, 2007
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Dell, Inc. said earnings grew 27% in the third quarter, buoyed by growth in overseas markets like Brazil and by prices falling for memory chips and other components. Dell earned US$766 million, or $0.34 per share, in the three months ended Nov. 2. That was up from $601 million, or $0.27 per share, in revised figures from the same quarter a year ago. Revenue grew 9% to $15.64 billion.

In an earnings conference call with analysts, Dell CFO Don Carty and founder and CEO Michael Dell both predicted more restructuring costs for the future, including acquisitions, layoffs, and what Carty described as a slower decline in component costs.

Dell said it experienced rapid growth in countries like Brazil, where revenue grew 45% over last year. India saw a 47% revenue increase. Revenue for Dell's U.S. consumer business, however, fell 6%.

During the quarter, Dell shipped about 9.9 million computers worldwide, compared with HP's 12.8 million, according to research firm  Gartner Inc. And Dell had about 14.4% of the worldwide PC market, down from 15.9% a year earlier and below HP's 18.6%.

Dell has 89,100 temporary and permanent employees worldwide and still intends to eliminate 10% of its work force by next year. Carty suggested that figure could be a bit of moving target due to a recent slew of acquisitions which have added workers. The company also plans to restart its share buyback program in December that was suspended in August. (AP) 

 

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