To: BigAppleBoy who wrote (79218 ) 11/12/1998 5:36:00 PM From: Secret_Agent_Man Read Replies (1) | Respond to of 176387
Thursday November 12, 5:08 pm Eastern Time Dell's Q3 profit up 55 percent, just beats estimate ROUND ROCK, Texas, Nov 12 (Reuters) - Third-quarter profit at Dell Computer Corp. (Nasdaq:DELL - news) jumped 55 percent to $384 million, just beating Wall Street estimates, on strong growth in all its customer segments and in all regions, including Asia, the company announced on Thursday. For the quarter ended Nov. 1, earnings on a per share basis for the leading director distributor of personal computers translated into 28 cents per share, beating by one cent the consensus First Call estimate. A year ago, Dell earned $248 million, or 17 cents per share. Quarterly revenue for Dell, which sells computers via Internet, mail and telephone orders, surged 51 percent to $4.82 billion, from $3.19 billion a year ago. For the first time, sales over the Internet topped $10 million a day, representing 20 percent of total revenue, Dell said. Despite the economic crisis that limited overall industry growth to a modest two percent in Asia-Pacific including Japan, Dell's revenue in the region increased 49 percent, exceeding its 35 percent rate in the first half of the year. In Europe, holding on to its No. 2 market position, Dell's revenue ballooned by 68 percent. Revenue in the Americas rose 46 percent. ''As we come to the end of the calendar year, industry conditions remain healthy,'' Chief Executive Michael Dell said in a statement. ''Processor and operating system transitions and component cost declines continue to position our industry for strong customer demand.'' Gross margins as a percent of revenue remained unchanged versus the year-ago quarter at 22.5 percent, and operating expenses slipped to 11.4 percent from 11.6 percent.