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Dell Profit Down 63 Per Cent

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It looks like Dell is still feeling the pinch; its latest financial results show profits down 63 per cent in the last quarter, as compared to last year, falling from $784 million (£487 million) to $290 million (£180 million).

Dell's revenue for the quarter was an impressive $12.342 billion (£7.63 billion), although again that was significantly down from $16.077 billion (£9.942 billion) the previous year. Notably Dell decreased its operating expenses by some $312 million compared to the same quarter last year, helping keep the company in profit, despite reduced profit. And the company says it is on track to reduce its costs by some $4 billion annually, albeit partly through over 9,000 staff having been cut over the past year.

Moreover, the company has some $10.7 billion worth of cash and assets, so it's hardly in difficulty yet. Chairman and CEO Michael Dell says: "We're continuing to transform the company on the cost side and delivering strong cash flow," such as Dell hopes to be in a good position once consumers and business are ready to start spending money again.

Link:
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