- Revenue of $14.3 billion in fourth quarter, $56.9 billion for the year
- GAAP earnings of $0.30 per share in quarter, $1.35 per share for full year; non-GAAP earnings of $0.40 per share in quarter and $1.72 per share for full year
- Cash flow from operations of $1.4 billion; $3.3 billion for fiscal year
ROUND ROCK, Texas — (BUSINESS WIRE) — February 19, 2013 — Dell announced fiscal 2013 fourth quarter and full-year results today, with revenue of $14.3 billion for the quarter and $56.9 billion for the year. Revenue from enterprise solutions and services grew 6 percent in the quarter to $5.2 billion and was $19.4 billion, or 34 percent of Dell revenue for the fiscal year, a 4 percent gain over fiscal year 2012.
“We continued to execute our long-term strategy in Q4, and realized a 6 percent increase in our enterprise solutions and services business,” said Brian Gladden, Dell CFO. “We also continued to generate strong cash flow from operations of $1.4 billion in the quarter. Our strong balance sheet and cash position enabled the company to invest almost $5 billion in new capabilities and intellectual property this fiscal year, including great assets like Quest, SonicWall, Wyse and AppAssure.”
Results
- Revenue in the quarter was $14.3 billion, an 11 percent decrease from the previous year, and a 4 percent increase sequentially. Revenue for the 2013 fiscal year was $56.9 billion, an 8 percent decrease. Dell’s fiscal year 2012 had an extra week, which was incorporated into the company’s Q4 results.
- GAAP operating income for the quarter was $698 million, or 4.9 percent of revenue. Non-GAAP operating income was $954 million, or 6.7 percent of revenue. Gross margins for the quarter benefitted by approximately $250 million, primarily resulting from vendor settlements. For the fiscal year, GAAP operating income was $3 billion and non-GAAP operating income was $4 billion.
- GAAP earnings per share in the quarter was 30 cents, down 30 percent from the previous year; non-GAAP EPS was 40 cents, down 22 percent. For the fiscal year, GAAP EPS was $1.35, down 28 percent year over year and non-GAAP EPS was $1.72, down 19 percent.
- Cash flow from operations in the quarter was $1.4 billion, and Dell ended Q4 with $15.3 billion in cash and investments. Full-year cash flow from operations was $3.3 billion.
Fiscal-Year 2013 Fourth Quarter and Full Year Highlights
Fourth Quarter |
Fiscal Year |
||||||||||||||||
(in millions) |
FY13 |
FY12 |
Change |
FY13 |
FY12 |
Change |
|||||||||||
Revenue | $ | 14,314 | $ | 16,031 | (11 | %) | $ | 56,940 | $ | 62,071 | (8 | %) | |||||
Operating Income (GAAP) | $ | 698 | $ | 931 | (25 | %) | $ | 3,012 | $ | 4,431 | (32 | %) | |||||
Net Income (GAAP) | $ | 530 | $ | 764 | (31 | %) | $ | 2,372 | $ | 3,492 | (32 | %) | |||||
EPS (GAAP) | $ | 0.30 | $ | 0.43 | (30 | %) | $ | 1.35 | $ | 1.88 | (28 | %) | |||||
Operating Income (non-GAAP) | $ | 954 | $ | 1,143 | (17 | %) | $ | 3,973 | $ | 5,135 | (23 | %) | |||||
Net Income (non-GAAP) | $ | 702 | $ | 913 | (23 | %) | $ | 3,017 | $ | 3,952 | (24 | %) | |||||
EPS (non-GAAP) | $ | 0.40 | $ | 0.51 | (22 | %) | $ | 1.72 | $ | 2.13 | (19 | %) | |||||