Dell has reported revenues of $14.9bn for the first quarter of fiscal 2011, an increase of 21% compared to $12.3bn for the same period last year.
The company posted an operating income of $619m, an increase of 50% compared to $414m of the same period a year ago.
For the first quarter of fiscal 2011, the company reported net income of $441m, an increase of 52% compared to $290m in Q1 FY10. GAAP earnings per share was $0.22, up 47% year-on-year. The resumed stock buyback program during the quarter, spending $200m to repurchase stock.
Revenues from large enterprises, public sectors, small and medium businesses and consumer sector totalled $4.2bn, $3.9bn, $3.5bn and $3.2bn, increasing 25%, 22%, 19%, 16%, respectively. Servers, storage and services revenue grew a combined 38% reaching $4.2bn.
Michael Dell, chairman of the board and chief executive officer of Dell, said: “Our strategy and the significant investments we’re making to enhance our capabilities are providing more of the standards-based, flexible solutions that provide customers the highest value. These efforts are driving renewed Dell growth.”
Dell expects the second quarter and the first part of the third quarter to experience slower demand from larger commercial customers in the US and Europe. Overall, it expects a normal, seasonal sequential demand pick-up in the low single digits in its second quarter.
