Dell sees decline in quarterly profits
Dell sees decline in quarterly profits
Friday 20th November 2009
Dell, the US computer maker, has announced its net profit for last quarter stood at £202 million, down from £440 million last year.Shares of Dell sank six per cent following the results, as the 54 per cent profit plunge on lower-than-expected sales was recorded by the number three PC maker.
Revenue also dropped 15 per cent, but the company were optimistic that revenue for the fourth quarter would improve.
Michael Dell, chairman of the board and chief executive officer: "We are seeing improvement in overall underlying IT demand that is continuing into the fourth quarter.
"The same is true with momentum in Dell's business, specifically in our Large Enterprise and SMB (small to medium sized businesses) segments. The launch of Windows 7 is being very well received by SMBs and consumers, and we'll see the benefits of that more fully in our fiscal fourth quarter."
Since 2007 some 10,000 jobs have been cut by the firm. Global computer sales have been knocked by the worldwide recession, as customers cut back on their spending.
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