The ongoing slump in PC sales is taking its toll
on Dell. The Texas-based computer maker reported a 79-per-cent plunge
in first-quarter profits Thursday, earning 130 million dollars,
compared to the 635 million dollars a year earlier.
Dell said that sales dipped just 2 per cent to 14.1 billion, but the company had to spend a lot to acquire many of those sales in the enterprise solutions sector to compensate for lower consumer sales which dropped by 9 per cent to 8.9 billion dollars.
The downbeat results came amidst a fierce buyout battle for the company, which earlier this year agreed to be taken private by founder Michael Dell and a consortium of private equity companies. That 24.4-billion-dollar deal is being challenged by activist shareholder Carl Icahn and allies.
Most Popular Stories
- Updates on Everglades' Stranded Pilot Whales
- NSA Tracks 5 Billion Cellphone Records a Day
- Hezbollah Chief's Assassination Claimed by Sunni Group
- Stolen Cobalt-60 Recovered in Mexico
- Ford Mustang Still Packs Power
- Wind Power and Wildlife Can Coexist
- Allstate Seeks to Invest in Minority Firms
- Sarmiento to Handle Greeley Latin Ops
- First-time Jobless Claims Drop Below 300,000
- White House Pushes to Extend Unemployment Benefits