Dell Reports Q2 FY12 Results
Dell's investment in differentiated enterprise solutions and services continued to drive substantial gains in the company's profitability in the fiscal second quarter as operating income rose significantly on a 1 percent revenue increase.
The Revenue in the quarter was $15.7 billion, up 1 percent over last year and 4 percent sequentially. GAAP earning per share was 48 cents, up 71 percent, non-GAAP EPS was 54 cents, up 69 percent. Vendor settlements resulted in approximately $70 million in benefit in the quarter that increased non-GAAP gross margins 50 basis points and non-GAAP earnings per share by 4cents.GAAP operating income was $1.1 billion, or 7.3 percent of revenue. Non-GAAP operating income was $1.3 billion, or 8.5 percent of revenue. Cash flow from operations was $2.4 billion for the quarter and $5.2 billion over the last four quarters. Dell ended the quarter with a record high $16.2 billion in cash and investments and repurchased $1.1 billion in stock in the quarter.
Michael Dell, Chairman &CEO said, "We continue to see great momentum in the high growth areas of our business, which is a direct reflection of the discipline and strong execution our global Dell team is applying to help solve real-world challenges for our customers. We're creating efficiency across every step of the IT value chain and ultimately enabling all customers from home users to large businesses and government organizations to achieve the outcomes that matter most to them."
Brian Gladden, chief financial officer said, "Our results for the first half of the fiscal year reflect our commitments and are enabling us to accelerate the reshaping of our portfolio while delivering substantially higher operating income. We're maintaining our focus on developing higher-value solutions and services to drive stronger profitability and smartly manage a balance of growth, increased operating income and cash flow."
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