- Revenue of $14.5 billion
- GAAP earnings of $0.42 per share, non-GAAP earnings of $0.50 per share
- Dell Enterprise Solutions and Services revenue grew 6 percent year over year to $4.9 billion; now represents more than 50 percent of company margin and more than a third of revenue
ROUND ROCK, Texas — (BUSINESS WIRE) — August 21, 2012 — Dell announced fiscal 2013 second-quarter results today with revenue of $14.5 billion, GAAP operating income of $901 million, and earnings of $0.42 per share. Consistent with its strategy, Dell saw growth in its server, services and networking businesses.
“We’re transforming our business, not for a quarter or a fiscal year, but to deliver differentiated customer value for the long term,” said Michael Dell, chairman and CEO. “We’re clear on our strategy and we’re building a leading portfolio of solutions to help our customers achieve their goals.”
“Our performance in the second quarter provided another proof-point that our long-term strategy is right,” said Brian Gladden, Dell chief financial officer. “We continued our progress in shifting the mix of our business to higher-margin enterprise solutions, led by solid growth in our server, networking, services, and Dell IP storage businesses.
“Growth in our PC business was challenging, as we saw a tough macroeconomic and competitive environment, and continued to focus on higher-value solutions in this business,” Mr. Gladden said.
Results
- Revenue in the quarter was $14.5 billion, an 8 percent decrease from the previous year as desktop and mobility revenue contracted.
- GAAP operating income for the quarter was $901 million, or 6.2 percent of revenue. Non-GAAP operating income was $1.1 billion, or 7.8 percent of revenue. Gross margins for the quarter benefitted by approximately $70 million, or 50 basis points, primarily resulting from a vendor settlement.
- GAAP earnings per share in the quarter was 42 cents, down 13 percent from the previous year; non-GAAP EPS was 50 cents, down 7 percent.
- Cash flow from operations in the quarter was $637 million. Dell ended the quarter with $14.6 billion in cash and investments.
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Fiscal-Year 2013 Second Quarter and Half Year Highlights |
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Second Quarter |
Fiscal Year First Half |
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| (in millions) |
FY13 |
FY12 |
Change |
FY13 |
FY12 |
Change |
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| Revenue | $ | 14,483 | $ | 15,658 | (8 | %) | $ | 28,905 | $ | 30,675 | (6 | %) | |||||||||||||
| Operating Income (GAAP) | $ | 901 | $ | 1,146 | (21 | %) | $ | 1,725 | $ | 2,358 | (27 | %) | |||||||||||||
| Net Income (GAAP) | $ | 732 | $ | 890 | (18 | %) | $ | 1,367 | $ | 1,835 | (26 | %) | |||||||||||||
| EPS (GAAP) | $ | 0.42 | $ | 0.48 | (13 | %) | $ | 0.77 | $ | 0.97 | (21 | %) | |||||||||||||
| Operating Income (non-GAAP) | $ | 1,123 | $ | 1,328 | (15 | %) | $ | 2,133 | $ | 2,704 | (21 | %) | |||||||||||||
| Net Income (non-GAAP) | $ | 875 | $ | 1,006 | (13 | %) | $ | 1,636 | $ | 2,056 | (20 | %) | |||||||||||||
| EPS (non-GAAP) | $ | 0.50 | $ | 0.54 | (7 | %) | $ | 0.93 | $ | 1.08 | (14 | %) | |||||||||||||
