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August 22, 2012

Dell reports 8% decline in Q2 revenue

Dell's Q2 2012 revenue declined 8% to $14.5bn

By CBR Staff Writer

Dell has reported 8% decline its revenue during the second quarter (Q2) of fiscal year 2013 to $14.5bn when compared to $15.65bn registered during the same period in fiscal 2012 as PC sales slump.

The company’s operating income during the period declined 21% to $901m when compared to $1.14bn during the same period in 2012.

Dell has recorded 18% drop in net income during Q1 to $732m, over $890m registered during the earlier year period.

During the period, Dell’s earnings per share declined 7% to 42 cents, when compared to 54 cents reported during the same period in 2011.

Dell chairman and CEO Michael Dell said: "We’re transforming our business, not for a quarter or a fiscal year, but to deliver differentiated customer value for the long term."

Dell’s Enterprise Solutions and Services reported 6% rise in revenue year over year to $4.9bn and according to company the sector is now approaching an annual run rate of $20bn.

Dell chief financial officer Brian Gladden said: "Growth in our PC business was challenging, as we saw a tough macroeconomic and competitive environment, and continued to focus on higher-value solutions in this business."

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During Q2, Dell’s revenue from server and networking rose 14%, while Dell-owned storage reported 6% rise in its revenues.

Revenue of Dell Services increased to $2.1bn, up 3%, with new signings of more than $1bn in the first half (H1) of 2012 and $1.8bn over the last 12 months.

During H1 2012, Dell has reported 6% decline its revenue to $28.9bn when compared to $30.67bn registered during the same period last year.

The operating income, net income and EPS have declined 27%, 26% and 21% respectively during H1 2012 when compared to the same period in 2011.

The PC maker has forecast that its revenue would drop 2% to 5% during the fiscal third quarter compared to the Q2.

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