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Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: hdl who wrote (138777)	8/10/1999 8:40:00 AM
From: Dorine Essey	Read Replies (1) \| Respond to of 176387

I believe this news will also be good for DELL. Dorine 08/09 16:45 Gateway Announces Two-For-One Stock Split <GTW.N> Gateway Announces Two-For-One Stock Split SAN DIEGO--(BUSINESS WIRE)--August 9, 1999--Gateway (NYSE:GTW) announced today that its Board of Directors has approved a 2-for-1 common stock split. "We're delivering on our commitments to shareholders at each and every turn," said Ted Waitt, Gateway chairman and chief executive officer. "Our revenue stream is more diverse than ever and quarter by quarter, our financial performance is rock solid and consistent. The Board's decision to split the stock is yet another vote of confidence in our ability to continue executing against our strategy and driving consistent financial results." "With the number one consumer desktop in the United States and with a rapidly expanding presence among small and mid-sized businesses, it only makes sense that our shares should be as widely accessible as our products," said Jeff Weitzen, Gateway president and chief operating officer. "We want to give every Gateway customer the opportunity to be a Gateway shareholder, and this split makes it a lot easier." Each of the past three years, Gateway's stock has ranked in the top 25 of Standard & Poor's ranking of stocks, based on three-year total returns. Since the end of last year, Gateway's stock has appreciated more than six times faster than the S&P 500 index. Most recently, Gateway posted record second quarter earnings, in which net income increased 47% over the same period last year and non-PC income exceeded 10%, achieving the company's full-year goal. "We remain confident on the outlook for the balance of the year," said John Todd, senior vice president and chief financial officer. "Our core PC business remains very strong, and with increasing income from expanding revenue streams such as gateway.net, financing and peripherals, we're well-positioned to continue driving shareholder value into the future." Shares will be distributed on or about September 7, 1999 to shareholders of record on August 20, 1999. After the split, Gateway will have approximately 315 million shares outstanding.