Dell's net income, revenue plummet

Dell is gaining market share 'faster than ever in Dell's history,' according to the company's eponymous founder and chief executive Michael Dell, but it's still suffering from the US economic slump

          Dell is gaining market share "faster than ever in Dell's history," according to the company's eponymous founder and chief executive Michael Dell, but it's still suffering from the US economic slump: Dell's revenue and net income for its third fiscal quarter of 2002 plunged from its year-ago results, the company announced Thursday.

          Dell's net revenue of $US7.47 billion dropped 10% from last year's third quarter, and its net income of $US429 million fell off 36% from the year-ago period.

          Dell offered no explanation in its prepared statement for the sharp profit drop. The company instead highlighted its unit shipment increases and market-share gains in the statement. Notebook computer shipments grew 18%, as did US server shipments. Internationally, Dell's total product unit shipments rose 21% in Europe, the Middle East and Africa; in Asia-Pacific and Japan, its shipments rose 28%.

          Dell also posted growth in its services revenue, which climbed to $US766 million for the quarter, up 15% from last year's third quarter.

          Dell anticipates a 5% sequential growth in unit shipments next quarter, and a slight increase in revenue over the third quarter, the company said in a statement.

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