To: TimbaBear who wrote (15025 ) 8/2/2002 11:42:36 AM From: TimbaBear Read Replies (1) | Respond to DELL a look at the Statement of Cash Flows (page 1)sec.gov "Dell Computer Corporation (the “Company”) is the world’s leading computer systems company and a premier provider of computing products and services. In fiscal year 2002 the Company’s revenue was $31.2 billion. The Company was founded in 1984 by Michael Dell on a simple concept: by selling computer systems directly to customers, the Company could best understand customer needs and efficiently provide the most effective computing solutions to meet those needs. The Company’s climb to market leadership is the result of a relentless focus on delivering the best customer experience by selling computer systems and services directly to its customers." "The Company’s objective is to maximize stockholder value by executing a strategy that focuses on a balance of three priorities: liquidity, profitability and growth. Management believes that opportunity exists for continued worldwide growth by increasing the Company’s market presence in its existing markets, entering new markets, and pursuing additional product and service opportunities." "The Company achieved industry-leading results in fiscal 2002 as year-on-year unit shipments increased by 15% while industry shipments declined 5% (the first ever year-on-year industry decline), resulting in market share gains in every region and product line. The Company attained and solidified its position as the No. 1 personal computer systems company in the world. The Company generated relatively stable year-on-year net revenue of over $31 billion, and achieved operating earnings of over $2 billion (excluding the impact of restructuring actions), whereas its five largest competitors collectively experienced declining revenues and operating losses in their personal computer systems and related businesses. Additionally, an intense focus on operating expenses resulted in the Company reducing operating expenses (excluding special charge) as a percent of revenues for the year.
