<font colour=Disappearing Derbes Green> ``We're winning new customers at an unprecedented rate across our business, and servers and storage products remain the fastest-growing parts of our business,'' said Mr. Dell before the meeting. ``We believe we're widening our lead as the No. 1 computer-systems company, and that Dell will again earn the majority of industry profitability during the second quarter.''
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Thursday July 19, 8:32 am Eastern Time
Press Release
Dell Says Revenue, Earnings for Fiscal Second Quarter Expected to be Within Previous Guidance
Return of Four Directors to Dell Board on Annual-Meeting Agenda
AUSTIN, Texas--(BUSINESS WIRE)--July 19, 2001--Michael Dell will tell shareholders at Dell's (Nasdaq:DELL - news) annual meeting this morning that the company anticipates revenue and per-share earnings for the fiscal second-quarter 2002, which ends Aug. 3, will be within guidance given at the start of the quarter.
Mr. Dell will tell attendees that company sales are expected to be about $7.6 billion, with per-share earnings of 16 cents, excluding a previously announced charge. That charge is now expected to be about $700 million, primarily made up of costs associated with job reductions, facilities consolidation and impairment of assets, including certain investments by Dell Ventures. Dell plans to announce full second-quarter results and comment on expectations for the third quarter on Aug. 16.
Today's meeting starts at 9 a.m. (CDT) and can be viewed ``live'' online at www.dell.com/investor/. In the meeting's only proxy matter, shareholders will vote on candidates for four seats on Dell's board of directors.
Mr. Dell plans to tell shareholders that the company is continuing to grow at a multiple of the industry rate around the world, and that Dell is offsetting somewhat softer industry demand with faster-than-planned progress in reducing operating expenses. More broadly, he will describe how the company's strategy based on industry-standard technology and efficient structure remain best suited for customers, shareholders and the company.
``We're winning new customers at an unprecedented rate across our business, and servers and storage products remain the fastest-growing parts of our business,'' said Mr. Dell before the meeting. ``We believe we're widening our lead as the No. 1 computer-systems company, and that Dell will again earn the majority of industry profitability during the second quarter.''
``That's the type of performance that should create tremendous value for Dell shareholders over time.''
Mr. Dell said the company expects to earn the No. 1 share position in the U.S server market for the second straight quarter during Q2, and is closing in on the top global spot in servers.
He also will tell investors that the Dell is best positioned to benefit from an eventual economic upturn and improvement in industry demand, the latter helped by the pending replacement cycle for business and home computer systems, and drivers such as Microsoft Corp.'s Windows XP operating system, Intel Corp.'s Pentium 4 processors, and broadband and wireless technologies.
Prior to the meeting, Mr. Dell and other officials will show attendees current and forthcoming products, including the new PowerEdge 7150 server and Dell Precision 730 workstation, both of which use Intel's 64-bit Itanium microprocessor; and the Dimension 2100, an aggressively priced, Pentium 4-based desktop computer planned for introduction in August.
In formal voting, shareholders are expected to return four directors -- Donald J. Carty, William H. Gray III, Judy C. Lewent and Thomas W. Luce III -- to the company's board for three-year terms.
About Dell
Dell Computer Corporation (Nasdaq:DELL - news) is the world's No. 1 computer systems company and is a premier provider of products and services required for customers to build their information-technology and Internet infrastructures. The company's revenue for the past four quarters totaled $32.6 billion. Dell ranks No. 48 on the Fortune 500, No. 154 on the Fortune Global 500 and No. 7 on the Fortune Global ``most admired'' lists of companies. Dell, through its direct business model, designs, manufactures and customizes products and services to customer requirements, and offers an extensive selection of software and peripherals. Information on Dell and its products can be obtained on the World Wide Web at www.dell.com.
Dell, PowerEdge, Dell Precision and Dimension are trademarks of Dell Computer Corporation.
Microsoft and Windows are registered trademarks of Microsoft Corp.
Intel and Pentium are registered trademarks of Intel Corp.
Fortune and Fortune 500 are registered trademarks and Fortune Global 500 is a trademark of Time Inc.
Dell disclaims any proprietary interest in the marks and names of others.
Special note: Statements in this press release that relate to future results and events are based on the company's current expectations. Actual results in future periods may differ materially from those currently expected or desired because of a number of risks and uncertainties, including general economic and business conditions; the level of demand for the company's products and services; the level and intensity of competition in the technology industry and the pricing pressures that have resulted; the company's ability to timely and effectively manage periodic product transitions, as well as component availability and cost; the company's ability to develop new products based on new or evolving technology and the market's acceptance of those products; the company's ability to manage its inventory levels to minimize excess inventory, declining inventory values and obsolescence; the product, customer and geographic sales mix of any particular period; the company's ability to recover its investments in venture capital activities; and the company's ability to effectively manage its operating costs. Additional discussion of these and other factors affecting the company's business and prospects is contained in the company's periodic filings with the Securities and Exchange Commission.
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Contact:
Dell Computer Corporation, Austin
Media Contacts:
Mike Maher, 512/723-2575
mike_maher@dell.com
or
T.R. Reid, 512/728-7977
tr_reid@dell.com
or
Investor Contacts:
Lynn A. Tyson, 512/723-1130
lynn_tyson@dell.com
or
Robert Williams, 512/728-7570
robert_williams@dell.com
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