Dell Reports Fourth Quarter, Full Fiscal Year Financial Results

⁽¹⁾ Includes the results of Dell's Fiscal 2013 acquisitions from their respective acquisition dates. Servers and Networking includes our Fiscal 2013 Software acquisitions (Quest Software, SonicWALL, and AppAssure).

⁽²⁾ Segment Results for Fiscal 2012 have been recast to conform to segment realignments that were completed during the first quarter of Fiscal 2013. See Supplemental Segment Information at the end of these financial tables for more information.

DELL INC.
Condensed Consolidated Statement of Income and Related Financial Highlights (continued)
(in millions, except per share data and percentages; percentage growth rates and ratios are calculated based on underlying data in thousands)
(unaudited)


	Fiscal Year Ended						% Growth Rates
	February 1, 2013⁽¹⁾			February 3, 2012			Yr. to Yr.
Net revenue
Products	$	44,744		$	49,906		(10	)%
Services, including software related		12,196			12,165		—	%
Total net revenue		56,940			62,071		(8	)%
Cost of net revenue
Products		36,683			39,689		(8	)%
Services, including software related		8,071			8,571		(6	)%
Total cost of net revenue		44,754			48,260		(7	)%
Gross margin		12,186			13,811		(12	)%
Operating expenses
Selling, general, and administrative		8,102			8,524		(5	)%
Research, development, and engineering		1,072			856		25	%
Total operating expenses		9,174			9,380		(2	)%
Operating income		3,012			4,431		(32	)%
Interest and other, net		(171	)		(191	)	10	%
Income before income taxes		2,841			4,240		(33	)%
Income tax provision		469			748		(37	)%
Net income	$	2,372		$	3,492		(32	)%
Earnings per share:
Basic	$	1.36		$	1.90		(28	)%
Diluted	$	1.35		$	1.88		(28	)%
Cash dividends declared per common share	$	0.16		$	—

Weighted average shares outstanding:
Basic		1,745			1,838		(5	)%
Diluted		1,755			1,853		(5	)%

Percentage of Total Net Revenue:
Gross margin		21.4	%		22.3	%
Selling, general, and administrative		14.2	%		13.7	%
Research, development, and engineering		1.9	%		1.5	%
Operating expenses		16.1	%		15.2	%
Operating income		5.3	%		7.1	%
Income before income taxes		5.0	%		6.8	%
Net income		4.2	%		5.6	%
Income tax rate		16.5	%		17.6	%

Net Revenue by Product Category:
Servers and Networking ⁽¹⁾	$	9,294		$	8,336		11	%
Storage		1,699			1,943		(13	)%
Services		8,396			8,322		1	%
Third-party software and peripherals		9,257			10,222		(9	)%
Mobility		15,303			19,104		(20	)%
Desktop PCs		12,991			14,144		(8	)%
Consolidated net revenue	$	56,940		$	62,071		(8	)%

Percent of Total Net Revenue:
Servers and Networking ⁽¹⁾		16	%		13	%
Storage		3	%		3	%
Services		15	%		13	%
Third-party software and peripherals		16	%		17	%
Mobility		27	%		31	%
Desktop PCs		23	%		23	%

Net Revenue by Global Segment: ⁽²⁾
Large Enterprise	$	17,781		$	18,786		(5	)%
Public		14,828			16,070		(8	)%
Small and Medium Business		13,413			13,547		(1	)%
Consumer		10,918			13,668		(20	)%
Consolidated net revenue	$	56,940		$	62,071		(8	)%

Percentage of Total Net Revenue: ⁽²⁾
Large Enterprise		31	%		30	%
Public		26	%		26	%
Small and Medium Business		24	%		22	%
Consumer		19	%		22	%

Consolidated Operating Income: ⁽²⁾
Large Enterprise	$	1,553		$	1,889
Public		1,238			1,584
Small and Medium Business		1,505			1,581
Consumer		(11	)		433
Segment operating income		4,285			5,487
Broad based long-term incentives		(312	)		(352	)
Amortization of intangible assets		(613	)		(391	)
Severance and facility actions and acquisition-related costs		(348	)		(313	)
Consolidated operating income	$	3,012		$	4,431

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 Next Page »