DELL » Topics » Results of Operations

This excerpt taken from the DELL 10-Q filed Sep 4, 2008.
Results of Operations
 
The following table summarizes the results of our operations for the three and six-month periods ended August 1, 2008, and August 3, 2007:
 
                                                                 
    Three Months Ended     Six Months Ended  
    August 1, 2008     August 3, 2007     August 1, 2008     August 3, 2007  
          % of
          % of
          % of
          % of
 
     Dollars       Revenue       Dollars       Revenue       Dollars       Revenue       Dollars      Revenue  
    (in millions, except per share amounts and percentages)  
 
Net revenue
  $ 16,434       100.0%     $ 14,776       100.0%     $ 32,511       100.0%     $ 29,498       100.0%  
Gross margin
  $ 2,827       17.2%     $ 2,951       19.9%     $ 5,792       17.8%     $ 5,789       19.6%  
Operating expenses
  $ 2,008       12.2%     $ 2,049       13.8%     $ 4,074       12.5%     $ 3,954       13.4%  
Operating income
  $ 819       5.0%     $ 902       6.1%     $ 1,718       5.3%     $ 1,835       6.2%  
Net income
  $ 616       3.7%     $ 746       5.1%     $ 1,400       4.3%     $ 1,502       5.1%  
Earnings per share diluted
  $ 0.31       N/A     $ 0.33       N/A     $ 0.69       N/A     $ 0.66       N/A  
 
This excerpt taken from the DELL 10-Q filed Jun 27, 2008.
Results of Operations
 
The following table summarizes the results of our operations for the three month periods ended May 2, 2008, and May 4, 2007:
 
                                 
    Three Months Ended  
    May 2, 2008     May 4, 2007  
          % of
          % of
 
    Dollars     Revenue     Dollars     Revenue  
    (in millions, except per share amounts and percentages)  
 
Net revenue
  $   16,077         100.0%     $   14,722         100.0%  
Gross margin
  $ 2,965       18.4%     $ 2,838       19.3%  
Operating expenses
  $ 2,066       12.9%     $ 1,905       13.0%  
Operating income
  $ 899       5.5%     $ 933       6.3%  
Net income
  $ 784       4.9%     $ 756       5.1%  
Earnings per share diluted
  $ 0.38       N/A     $ 0.34       N/A  
 
This excerpt taken from the DELL 10-Q filed Jun 3, 2008.
Results of Operations
 
The following table summarizes the results of our operations for the three month periods ended May 2, 2008, and May 4, 2007:
 
                                 
    Three Months Ended  
    May 2, 2008     May 4, 2007  
          % of
          % of
 
    Dollars     Revenue     Dollars     Revenue  
    (in millions, except per share amounts and percentages)  
 
Net revenue
  $   16,077         100.0%     $   14,722         100.0%  
Gross margin
  $ 2,965       18.4%     $ 2,838       19.3%  
Operating expenses
  $ 2,066       12.9%     $ 1,905       13.0%  
Operating income
  $ 899       5.5%     $ 933       6.3%  
Net income
  $ 784       4.9%     $ 756       5.1%  
Earnings per share diluted
  $ 0.38       N/A     $ 0.34       N/A  
 
These excerpts taken from the DELL 10-K filed Mar 31, 2008.
Results of Operations
 
The following table summarizes our consolidated results of operations for each of the past three fiscal years:
 
                                     
    Fiscal Year Ended
    February 1, 2008(a)   February 2, 2007(a)   February 3, 2006(b)
    Dollars   % of Revenue   Dollars   % of Revenue   Dollars   % of Revenue
    (in millions, except per share amounts and percentages)
 
Net revenue
  $ 61,133     100.0%   $ 57,420     100.0%   $ 55,788     100.0%
Gross margin
  $ 11,671     19.1%   $ 9,516     16.6%   $ 9,891     17.7%
Operating expenses
  $ 8,231     13.5%   $ 6,446     11.2%   $ 5,509     9.8%
Operating income
  $ 3,440     5.6%   $ 3,070     5.4%   $ 4,382     7.9%
Income tax provision
  $ 880     1.4%   $ 762     1.3%   $ 1,006     1.8%
Net income
  $ 2,947     4.8%   $ 2,583     4.5%   $ 3,602     6.5%
Earnings per share — diluted
  $ 1.31     N/A   $ 1.14     N/A   $ 1.47     N/A
 
 
(a) Results for Fiscal 2008 include stock-based compensation expense of $436 million, or $309 million ($0.14 per share) net of tax, and results for Fiscal 2007 include stock-based compensation expense of $368 million, or $258 million ($0.11 per share) net of tax, due to the implementation of Statement of Financial Accounting Standards No. 123 (revised 2004), Share-Based Payment, (“SFAS 123(R)”). We implemented SFAS 123(R) using the modified prospective method effective February 4, 2006. For additional information, see Note 5 of Notes to Consolidated Financial Statements included in “Part II — Item 8 — Financial Statements and Supplementary Data”.
 
(b) Results for Fiscal 2006 include charges aggregating $421 million ($338 million of other product charges and $83 million in selling, general, and administrative expenses) related to the cost of servicing or replacing certain OptiPlextm systems that include a vendor part that failed to perform to our specifications, workforce realignment, product rationalizations, excess facilities, and a write-off of goodwill recognized in the third quarter. The related tax effect of these items was $96 million. Fiscal 2006 also includes an $85 million income tax benefit related to a revised estimate of taxes on the repatriation of earnings under the American Jobs Creation Act of 2004 recognized in the second quarter.
 
Results
of Operations



 



The following table summarizes our consolidated results of
operations for each of the past three fiscal years:


 


















































































































































































































                                     

 

 

Fiscal Year Ended

 

 

February 1,
2008(a)


 

February 2,
2007(a)


 

February 3,
2006(b)


 

 

Dollars

 

% of Revenue

 

Dollars

 

% of Revenue

 

Dollars

 

% of Revenue

 

 

(in millions, except per share amounts and percentages)
 


Net revenue


 

$

61,133

 

 

100.0%

 

$

57,420

 

 

100.0%

 

$

55,788

 

 

100.0%


Gross margin


 

$

11,671

 

 

19.1%

 

$

9,516

 

 

16.6%

 

$

9,891

 

 

17.7%


Operating expenses


 

$

8,231

 

 

13.5%

 

$

6,446

 

 

11.2%

 

$

5,509

 

 

9.8%


Operating income


 

$

3,440

 

 

5.6%

 

$

3,070

 

 

5.4%

 

$

4,382

 

 

7.9%


Income tax provision


 

$

880

 

 

1.4%

 

$

762

 

 

1.3%

 

$

1,006

 

 

1.8%


Net income


 

$

2,947

 

 

4.8%

 

$

2,583

 

 

4.5%

 

$

3,602

 

 

6.5%


Earnings per share — diluted


 

$

1.31

 

 

N/A

 

$

1.14

 

 

N/A

 

$

1.47

 

 

N/A






 




 




























(a)

Results for Fiscal 2008 include
stock-based compensation expense of $436 million, or
$309 million ($0.14 per share) net of tax, and results for
Fiscal 2007 include stock-based compensation expense of
$368 million, or $258 million ($0.11 per share) net of
tax, due to the implementation of Statement of Financial
Accounting Standards No. 123 (revised 2004), Share-Based
Payment,
(“SFAS 123(R)”). We implemented
SFAS 123(R) using the modified prospective method effective
February 4, 2006. For additional information, see
Note 5 of Notes to Consolidated Financial Statements
included in “Part II —
Item 8 — Financial Statements and Supplementary
Data”.
 

(b)

Results for Fiscal 2006 include
charges aggregating $421 million ($338 million of
other product charges and $83 million in selling, general,
and administrative expenses) related to the cost of servicing or
replacing certain
OptiPlextm

systems that include a vendor part that failed to perform to our
specifications, workforce realignment, product rationalizations,
excess facilities, and a write-off of goodwill recognized in the
third quarter. The related tax effect of these items was
$96 million. Fiscal 2006 also includes an $85 million
income tax benefit related to a revised estimate of taxes on the
repatriation of earnings under the American Jobs Creation Act of
2004 recognized in the second quarter.


 




This excerpt taken from the DELL 10-Q filed Dec 10, 2007.
Results of Operations
 
The following table summarizes the results of our operations for the three and nine month periods ended November 2, 2007 and November 3, 2006:
 
                                                 
    Three Months Ended   Nine Months Ended
    November 2, 2007   November 3, 2006   November 2, 2007   November 3, 2006
        % of
      % of
      % of
      % of
    Dollars   Revenue   Dollars   Revenue   Dollars   Revenue   Dollars   Revenue
    (in millions, except per share amounts and percentages)
 
                                                 
Net revenue
  $ 15,646     100.0%   $ 14,419     100.0%   $ 45,144     100.0%   $ 42,950     100.0%
Gross margin
  $ 2,888     18.5%   $ 2,391     16.6%   $ 8,677     19.2%   $ 7,037     16.4%
Operating expenses
  $ 2,059     13.2%   $ 1,657     11.5%   $ 6,013     13.3%   $ 4,794     11.2%
Operating income
  $ 829     5.3%   $ 734     5.1%   $ 2,664     5.9%   $ 2,243     5.2%
Net income
  $ 766     4.9%   $ 601     4.2%   $ 2,268     5.0%   $ 1,857     4.3%
Earnings per share diluted
  $ 0.34     N/A   $ 0.27     N/A   $ 1.00     N/A   $ 0.82     N/A
 
This excerpt taken from the DELL 10-K filed Mar 15, 2006.
Results of Operations:
                                       
 
Net revenue
  $ 55,908     $ 49,205     $ 41,444     $ 35,404     $ 31,168  
 
Gross margin
    9,950       9,015       7,552       6,349       5,507  
 
Operating income
    4,347       4,254       3,544       2,844       1,789  
Net income
  $ 3,572     $ 3,043     $ 2,645     $ 2,122     $ 1,246  
 
Earnings per common share:
                                       
   
Basic
  $ 1.49     $ 1.21     $ 1.03     $ 0.82     $ 0.48  
   
Diluted
  $ 1.46     $ 1.18     $ 1.01     $ 0.80     $ 0.46  
Number of weighted average shares outstanding:
                                       
   
Basic
    2,403       2,509       2,565       2,584       2,602  
   
Diluted
    2,449       2,568       2,619       2,644       2,726  
This excerpt taken from the DELL 10-K filed Mar 8, 2005.
Results of Operations:
                                       
 
Net revenue
  $ 49,205     $ 41,444     $ 35,404     $ 31,168     $ 31,888  
 
Gross margin
    9,015       7,552       6,349       5,507       6,443  
 
Operating income
    4,254       3,544       2,844       1,789       2,663  
 
Income before cumulative effect of change in accounting principle(d)
    3,043       2,645       2,122       1,246       2,236  
 
Net income
  $ 3,043     $ 2,645     $ 2,122     $ 1,246     $ 2,177  
 
Earnings per common share:
                                       
   
Before cumulative effect of change in accounting principle:
                                       
     
Basic
  $ 1.21     $ 1.03     $ 0.82     $ 0.48     $ 0.87  
     
Diluted
  $ 1.18     $ 1.01     $ 0.80     $ 0.46     $ 0.81  
   
After cumulative effect of change in accounting principle:
                                       
     
Basic
  $ 1.21     $ 1.03     $ 0.82     $ 0.48     $ 0.84  
     
Diluted
  $ 1.18     $ 1.01     $ 0.80     $ 0.46     $ 0.79  
   
Number of weighted average shares outstanding:
                                       
     
Basic
    2,509       2,565       2,584       2,602       2,582  
     
Diluted
    2,568       2,619       2,644       2,726       2,746  
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