Dell posts 21% increase in earnings in Q3

Products sold to U.S. consumers jumped by 28% over year-ago levels

By Linda Rosencrance

November 13, 2003 12:00 PM ET

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Computerworld - Dell Inc. today reported third-quarter earnings of $677 million, or 26 cents per share. That's up 21% from the $561 million, or 21 cents per share, in earnings the company reported in the same quarter last year.
Revenue was $10.6 billion, 16% higher than the $9.1 billion reported in the same quarter of 2002 and up more than 40% from the third quarter of 2001. The quarter ended Oct. 31.
Dell cited 35% growth in the Asian-Pacific and European markets as contributing to the increased earnings.
CEO Michael Dell said in a statement that the company anticipates fourth-quarter revenue of $11.5 billion, an increase of 18% over the same quarter a year ago, and earnings per share of 28 cents, up 22% over the year-ago quarter.
Dell said it had overall volume growth of 22% in five strategic markets: China, France, Germany, Japan and the U.K.
The company said Asia-Pacific and Japan led the company's regional growth with a 35% increase, nearly three times the combined rate of other companies. Dell's strength in Asia-Pacific and Japan was mainly in servers and notebook computers, which were up 37% and 36%, respectively.
Dell said products sold to U.S. consumers increased 28%, while sales to government agencies and small and medium-size businesses both increased 22%.

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