Dell boosts Q2 earnings on tax break
PrintSo begins the Kevin Rollins Band
Posted in Financial News, 16th July 2004 16:52 GMT
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Kevin Rollins began his first day as Dell's CEO with a bang, giving the all clear for the company to raise its second quarter earnings forecast.
Dell is now looking to post per-share earnings of 31 cents. This is 2 cents higher than previous expectations and 29 percent higher the the earnings per share posted in the same quarter last year. Dell made this announcement just ahead of a shareholders meeting in which Kevin Rollins will be announced as the new CEO. Dell's namesake Michael Dell will remain Chairman and still have access to both sides of his brain.
While Dell raised earnings, it did not change a previous revenue forecast of $11.7bn for the second quarter. Although, Dell did say it's enjoying strong sales of servers and storage systems and solid SMB sales.
Dell cited improved operations and a decline in the company's global tax rate for the earnings boost. Dell reports full results for the second quarter on Aug. 12. ®
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