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DELL TECHNOLOGIES INC. |
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Condensed Consolidated Statements of Income (Loss) and Related Financial Highlights |
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(in millions, except per share amounts and percentages; unaudited) |
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Three Months Ended |
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May 5, 2017 |
April 29, 2016 |
Change |
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Net revenue: |
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Products |
$ 12,968 |
$ 10,183 |
27 % |
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Services |
4,848 |
2,058 |
136 % |
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Total net revenue |
17,816 |
12,241 |
46 % |
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Cost of net revenue: |
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Products |
11,459 |
8,799 |
30 % |
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Services |
2,055 |
1,249 |
65 % |
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Total cost of net revenue |
13,514 |
10,048 |
34 % |
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Gross margin |
4,302 |
2,193 |
96 % |
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Operating expenses: |
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Selling, general, and administrative |
4,669 |
2,068 |
126 % |
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Research and development |
1,133 |
264 |
329 % |
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Total operating expenses |
5,802 |
2,332 |
149 % |
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Operating loss |
(1,500) |
(139) |
(979)% |
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Interest and other, net |
(573) |
(219) |
(162)% |
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Loss from continuing operations before income taxes |
(2,073) |
(358) |
(479)% |
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Income tax provision (benefit) |
(690) |
66 |
NM |
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Net loss from continuing operations |
(1,383) |
(424) |
(226)% |
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Income from discontinued operations, net of income taxes |
— |
479 |
(100)% |
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Net income (loss) |
(1,383) |
55 |
NM |
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Less: Net loss attributable to non-controlling interests |
(49) |
— |
NA |
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Net income (loss) attributable to Dell Technologies Inc. |
$ (1,334) |
$ 55 |
NM |
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Earnings (loss) per share attributable to Dell Technologies Inc. - basic: |
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Continuing operations - Class V Common Stock - basic |
$ 0.57 |
$ — |
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Continuing operations - DHI Group - basic |
$ (2.57) |
$ (1.05) |
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Discontinued operations - DHI Group - basic |
$ — |
$ 1.18 |
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Earnings (loss) per share attributable to Dell Technologies Inc. - diluted: |
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Continuing operations - Class V Common Stock - diluted |
$ 0.56 |
$ — |
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Continuing operations - DHI Group - diluted |
$ (2.57) |
$ (1.05) |
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Discontinued operations - DHI Group - diluted |
$ — |
$ 1.18 |
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Weighted-average shares outstanding: |
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Basic - Class V Common Stock |
207 |
— |
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Diluted - Class V Common Stock |
207 |
— |
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Basic - DHI Group |
566 |
405 |
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Diluted - DHI Group |
566 |
405 |
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Percentage of Total Net Revenue: |
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Gross margin |
24 % |
18 % |
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Selling, general, and administrative |
26 % |
17 % |
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Research and development |
6 % |
2 % |
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Operating expenses |
33 % |
19 % |
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Operating loss |
(8)% |
(1)% |
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Loss from continuing operations before income taxes |
(12)% |
(3)% |
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Net loss from continuing operations |
(8)% |
(3)% |
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Income tax rate |
33 % |
(18)% |
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