Dell Reports Fiscal Year 2014 First Quarter Financial Results

  • Revenue of $14.1 billion
  • Enterprise Solutions, Services and Software revenue up 12 percent
  • GAAP earnings of $0.07 per share; non-GAAP earnings of $0.21 per share

ROUND ROCK, Texas — (BUSINESS WIRE) — May 16, 2013 — Dell today announced fiscal 2014 first quarter results, with revenue of $14.1 billion, as the company grew revenue from Enterprise Solutions, Services and Software 12 percent year over year to $5.5 billion, or 8 percent growth, excluding the acquisition of Quest Software. Pricing adjustments that affected gross margins and continued acquisition-related costs in the quarter resulted in GAAP earnings of $0.07 per share and non-GAAP earnings of $0.21 per share.

“We made progress in building our enterprise solutions capabilities in the first quarter and are confident in our strategy to be the leading provider of end-to-end scalable solutions,” said Brian Gladden, Dell chief financial officer. “In addition, we have taken actions to improve our competitive position in key areas of the business, especially in end-user computing, and it has affected profitability. We’ll also continue to make important investments to support our strategy and drive long-term profitability.”

Results

  • Revenue in the quarter was $14.1 billion, a 2 percent decrease from the previous year.
  • GAAP operating income for the quarter was $226 million, or 1.6 percent of revenue. Non-GAAP operating income was $590 million, or 4.2 percent of revenue.
  • GAAP earnings per share in the quarter was 7 cents, down 81 percent from the previous year; non-GAAP EPS was 21 cents, down 51 percent.
  • Cash used in operations in the quarter was $39 million. On a trailing, 12-month basis, Dell has generated $3.4 billion in cash flow. Dell ended the quarter with $13.2 billion in cash and investments.

Fiscal-Year 2014 First Quarter Results

 

First Quarter

(in millions)

FY14

 

FY13

 

Change

Revenue $ 14,074   $ 14,422   (2 )%
 
Operating Income (GAAP) $ 226 $ 824 (73 )%
Net Income (GAAP) $ 130 $ 635 (79 )%
EPS (GAAP) $ 0.07 $ 0.36 (81 )%
 
Operating Income (non-GAAP) $ 590 $ 1,010 (42 )%
Net Income (non-GAAP) $ 372 $ 761 (51 )%
EPS (non-GAAP) $ 0.21 $ 0.43 (51 )%
 

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