It is always the best policy to tell the truth, unless, of course, you are an exceptionally good liar - Jerome K. Jerome
TIN BOX FLOGGER Dell announced a 32 percent decline in full year profits as fourth quarter sales fell across all of its business units.
Dell, which is in the midst of a leveraged buyout, announced what can only be described as a disastrous set of full year financial results following yet another lacklustre quarter. The firm's fourth quarter fiscal 2013 results reported that revenues fell 11 percent to $14.3bn with profits dropping 31 percent to $530m year over year.
Dell's fourth quarter figures rounded off what has been a year to forget for the firm, with its full year fiscal 2013 financial results showing an eight percent drop in revenues to $56.9bn with profits falling 32 percent to $2.3bn.
During Dell's fourth quarter sales in all four of its business units fell with consumer sales dropping 24 percent. Even the firm's large enterprise and public sector business units saw revenues decline seven percent and nine percent, respectively, while its small and medium business unit reported that revenues fell five percent.
Dell's regional sales in EMEA, the Americas and Asia-Pacific were down 14 percent, 10 percent and nine percent, respectively.
For Dell there really was very little good news in the fourth quarter, other than perhaps it might not have to report quarterly financial results much longer, should Michael Dell successfully take the firm private once again.
With such hopes, Dell didn't oblige investors with first quarter fiscal 2014 or full year fiscal 2014 forecasts, giving the industry a taste of what is to come. µ
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