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December 17, 2006

Dell receives Nasdaq non-compliance notice

Dell Inc, the number two PC maker in the world, said it had received a notice from the Nasdaq Stock Exchange that it is not in listing compliance because of its delayed fiscal third-quarter report.

By CBR Staff Writer

Dell earlier last week said it would delay filing its financials because of an ongoing investigation by the US Securities and Exchange Commission into its accounting and financial reporting.

The Round Rock, Texas-based company declined to comment on the potential ramifications of the Nasdaq notice.

It received a similar non-compliance letter from the Nasdaq in mid-September for delaying its fiscal second-quarter results. In early November, Dell appeared before a Nasdaq Listing Qualifications Panel to present its plan to regain compliance and continue its Nasdaq listing. The panel has not yet rendered a decision, Dell said, in a statement.

The company also said it was committed to resolving the issues raised in connection with the investigations, and regaining compliance with all SEC filing requirements (including the filing of its forms 10-Q for the fiscal second and third quarters of 2007) and all NASDAQ listing requirements, as soon as possible.

In addition to the SEC, the US Attorney for the Southern District of New York and the company’s internal audit committee have all flagged potential questions about Dell’s financial reporting.

Dell shares fell 34 cents to close at $26.53 on the Nasdaq on Friday.

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