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Reply #7: Dell Net Falls on Tax Costs; Sales Rise on PC Demand (Update4) [View All]

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54anickel Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Feb-11-05 09:34 AM
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7. Dell Net Falls on Tax Costs; Sales Rise on PC Demand (Update4)
:wtf: What tax cost? Nothing in the article that I can see, other than the statement profit fell 11 percent because of tax costs.

http://www.bloomberg.com/apps/news?pid=10000103&sid=aEZHRjkGuyas&refer=us

Feb. 10 (Bloomberg) -- Dell Inc., the world's largest personal-computer maker, said profit fell 11 percent because of tax costs. The company said first-quarter sales may not meet analysts' estimates.

Fourth-quarter net income fell to $667 million, or 26 cents a share, from $749 million, or 29 cents, a year earlier, the Round Rock, Texas-based company said in a statement today. Sales rose 17 percent to $13.46 billion, short of Dell's $13.5 billion forecast and disappointing investors.

``They're good but not great,'' Jason Maxwell, an analyst at Los Angeles-based TCW Group Inc., said of the results. TCW manages $100 billion and held 31.5 million Dell shares as of September. ``The revenue growth was a bit light.''

Consumer demand was ``slower'' than the company anticipated in January and that weighed on revenue, Chief Executive Officer Kevin Rollins said. Shipments rose 19 percent, less than the 20 percent Dell predicted. Dell sliced prices, helping the company win sales and take market share from International Business Machines Corp. and Hewlett-Packard Co., which yesterday ousted CEO Carly Fiorina.

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