Dell Computer Posts $603M in Profits
Posted on: Thursday, 13 February 2003, 06:00 CST
Source: Associated Press
ROUND ROCK, Texas (AP) - Dell Computer Corp., one of the leading barometers of the global computer industry, on Thursday reported record fourth-quarter sales and sharply higher profits as sales of servers and storage devices surged.
The world's No. 2 personal-computer maker earned $603 million in its fourth quarter, ended Jan. 31, up 32 percent from net income of $456 million in the same period a year ago.
The income worked out to 23 cents per share, up from 17 cents in the same quarter last year. The per-share earnings met the consensus of analysts surveyed by Thomson First Call.
Dell shares closed Thursday at $23.25, up 31 cents, or 1.3 percent, on the Nasdaq Stock Market. The shares gained another 64 cents each in early after-hours trading.
Dell's revenue in the quarter was $9.7 billion, up 21 percent from the $8.1 billion in sales in the same three months last year. The performance, which the company said was a record for the fourth quarter, matched sale projections issued in October.
For the year, the company's earnings were $2.1 billion, up nearly 15 percent from $1.8 billion, or 65 cents per share, in fiscal 2002.
Sales for the year totaled $35.4 billion up from $31.2 billion in the previous year.
Dell, which has about 15 percent of the worldwide PC market, has targeted business customers, which it sees as a more rapidly growing industry. But company officials have said they don't expect a significant rebound in business purchases of servers, computers and other equipment until the economy improves.
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