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SEC steps up probe into Dell affairs

Earnings delayed again
By INQUIRER staff
Thu Nov 16 2006, 07:33
PC GIANT Dell is facing a full blown investigation into its financial affairs by the Securities and Exchange Commission (SEC).

The SEC started an informal investigation into certain elements of Dell's affairs but this escalation means that its Q3 earnings will be delayed.

Early investigations mean the SEC still hasn't seen Dell's Q2 earnings.

Dell said in a statement yesterday that it will release its preliminary results by the end of this month, rather than today. This "reflects the level of complexity the company is facing in the preparation of its preliminary results," said Dell.

It said the delay in announcing its earnings is unrelated to the escalation of the SEC's inquiry.

"Dell is committed to resolving all issues in connection with the investigation and regaining compliance with all SEC filing requirements as soon as possible," the statement continued. µ

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