Dell shares down as net profit dips 54 percent
From AFP American Edition | 2009-11-20 13:10:30
<div><p>Shares in Dell fell sharply on Thursday after the US computer giant said quarterly net profit declined 54 percent and revenue dropped 15 percent.</p><p>Dell shares were trading 6.05 percent lower in after-hours electronic trading at 14.91 dollars.</p><p>The Texas-based company said net profit declined to 337 million dollars, or 17 cents per share, in the third quarter from 727 million dollars, or 37 cents per share, a year ago.</p><p>Revenue dipped to 12.9 billion dollars from 15.2 billion dollars a year ago.</p><p>Dell's results disappointed Wall Street analysts who had been expecting revenue of 13.18 billion dollars and earnings per share of 28 cents.</p><p>Dell chairman and chief executive Michael Dell said there were signs that the computer industry was emerging from its slump.</p><p>"We are seeing improvement in overall underlying IT demand that is continuing into the fourth quarter," Dell said in a statement. "The same is true with momentum in Dell's business."</p><p>"The launch of Windows 7 is being very well received by (small and medium businesses) and consumers, and we'll see the benefits of that more fully in our fiscal fourth quarter," he said.</p><p>Microsoft launched the new computer operating system last month.</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=63840440&bid=informcom" /></div><div id="copyright"><div>
Copyright 2009 <a href="http://www.afp.com/english/links/?pid=copyright">AFP American Edition</a></div></div>
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