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

To: kaka who wrote (171615)	11/14/2002 10:04:04 PM
From: calgal	Respond to of 176387

News from Dallas: NOVEMBER 14, 20:59 ET Dell Nets $561 Million in 3Q Profits URL:http://wire.ap.org/?FRONTID=TECHNOLOGY&SLUG=EARNS%2dDELL By DAVID KOENIG AP Business Writer DALLAS (AP) — Dell Computer Corp. reported rising sales and profits in the third quarter and predicted it would make further gains during the holidays, despite a sluggish economy and concern about consumer spending. Dell said profit jumped 31 percent to $561 million, or 21 cents per share, in the three months ended Nov. 1, compared to $429 million, or 16 cents per share, a year earlier. That matched Dell's forecast from six weeks ago and met the expectation of analysts surveyed by Thomson First Call. Revenue rose 22 percent to $9.14 billion from $7.47 billion in the same period last year. Dell raised its sales estimate from $8.9 billion to $9.1 billion in October. Company officials said unit shipments would rise 10 percent from the third quarter to the fourth quarter and revenue would gain a more modest 6 percent, to nearly $9.7 billion, because of price-cutting competition. Chief financial officer Jim Schneider said consumer sales during the holiday quarter would offset the usual late-year downturn in buying by schools and government. Dell also said earnings would meet analysts' forecasts of 23 cents per share in the fourth quarter. Analysts called the company's predictions conservative. Kevin Hunt, an analyst with Thomas Weisel Partners, said Dell could be leaving room to raise its targets in the middle of the fourth quarter, as it did during the third quarter. Investors also may have been looking for stronger signals about the next three months. Shares of Dell rose 89 cents to $30.94 on the Nasdaq Stock Market before the results were issued. In after-hours trading, the shares dropped 88 cents, or 2.8 percent. John Park, an analyst with Independence Investment in Boston, said Dell appears to be running strongly while industry rivals struggle with a downturn in technology spending by business customers. ``By all indications, they're still gaining share in most of their markets. There don't seem to be any glaring problems,'' Park said. Hunt said the only risk to Dell's current success is its entry or expansion into new lines such as handheld computers, storage equipment and printers. ``It's harder to do many things well than to do one thing well,'' he said. Dell has about 15 percent of the worldwide PC market. It aims to expand its presence in selling servers and other equipment to business customers, which it sees as a more rapidly growing industry. Officials said they don't expect a strong rebound in business purchases of computers and other equipment until the economy improves. Dell believes the slump is creating pent-up demand for equipment upgrades — many companies haven't upgraded since the buildup to Y2K more than three years ago. Dell earned $1.52 billion, or 57 cents per share, in the first nine months of its fiscal year, compared with $1.32 billion, or 48 cents per share last year. Year-to-date revenues rose 11 percent to $25.67 billion from $23.11 billion. On the Net: dell.com

To: kaka who wrote (171615)	11/14/2002 10:07:53 PM
From: calgal	Respond to of 176387

Texas Business Daily: Thursday, Nov. 14 Dell earnings meet expectations Dell Computer Corp. said Thursday that sales and profits surged in the third quarter despite the sluggish market for personal computers and other equipment. Dell said it earned $561 million, or 21 cents per share, in the three months ended Nov. 1, compared to $429 million, or 16 cents per share, a year earlier. That matched Dell's forecast made six weeks ago and met the expectation of analysts surveyed by Thomson First Call. Revenue rose 22 percent to $9.14 billion from $7.47 billion in the same period last year. The company said fourth-quarter revenue would rise about 20 percent over a year earlier, to nearly $9.7 billion, and earnings would meet analysts' forecasts of 23 cents per share. Associated Press