Dell Earnings Rose 21 Percent in Third Quarter
Posted on: Thursday, 13 November 2003, 06:00 CST
Nov. 14--Dell, one of the best-performing technology companies in the United States, said Thursday that third-quarter profits rose 21 percent from the same quarter last year and attributed much of its success to worldwide growth in several business segments.
The company's third-quarter net income was $677 million, or 26 cents a share, meeting Wall Street's expectations. Revenue for the quarter that ended Oct. 31 was up 16 percent, rising from $9.1 billion to $10.6 billion.
The financial results come on the heels of Dell's recent entry into the consumer electronics market and as anticipation builds for a strong holiday season in consumer sales.
Already a player in the printer and handheld computer category, Dell recently announced a portable mp3 player, a partnership with Musicmatch to launch its own online music store, a 17-inch LCD television and a laser printer.
In a conference call Thursday, Chief Executive Michael Dell said it was too soon to gauge the success of the new products but said he was optimistic about several of the product lines as extensions of what consumers and business customers say they want.
"Before the advent of small mp3 players, people were listening to music using their computers," Dell said. "The addition of the Dell DJ" -- the mp3 player -- "is a good step. We're off to a good start."
The biggest reasons for third-quarter growth, he said, were sales of products for business customers around the globe.
Specifically, the company noted that product shipments in China, France, Germany, Japan and the United Kingdom rose a combined 32 percent. China saw a 67 percent increase in the volume of servers and a 70 percent increase in notebook computers compared to a year ago.
Among products, servers and storage systems were the most successful for the company, with global sales increases of 30 percent and 68 percent, respectively, over the previous year.
The company inadvertently posted its quarterly results to it Web site before the close of the stock market. Shares fell 3 cents to close at $35.64.
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(c) 2003, San Jose Mercury News, Calif. Distributed by Knight Ridder/Tribune Business News.
DELL,
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