Dell Earnings Fall on Weak Corporate Spending
Thursday, February 14, 2002
foxnews.com
NEW YORK — No. 1 personal computer maker Dell Computer Corp. Thursday said fiscal fourth-quarter earnings fell slightly as stronger-than-expected consumer demand for PCs failed to offset weak corporate spending on technology.
Dell also said it expects to outperform the industry in its current fiscal first quarter, when Dell expects industry-wide shipments to drop 10 percent from the fourth quarter.
Dell, however, expects its first-quarter unit volumes and revenue to decline by 3 percent to 5 percent from the fourth quarter and sees first-quarter earnings of 16 cents per share.
Based on Dell's fourth-quarter's reve Analyst estimates are for first-quarter earnings of 16 cents per share on revenue of $7.6 billion, according to research firm Thomson Financial/First Call.
Dell's shares rose to $26.85 in after-hours trade, up slightly from its close at $26.81 on the Nasdaq.
Dell said it earned $456 million, or 17 cents per share, in the quarter ended Feb. 1, down from $508 million, or 18 cents per share, in the year-ago period, excluding charges. |
