Dell Q2 net income plummets 51 percent

0

 

18 August 2006 — Rolling Rock (TX): Dell has announced a five percent rise in Q2 revenue to $14.1 billion compared to $13.4 billion a year earlier.

 

Net income fell by 51 percent to $502 million from $1.02 billion in the same period last year. The company had previously warned that its Q2 would be affected by aggressive pricing in a slowing global commercial market. EPS was $0.22, compared to $0.41 in the previous Q2.

 

The US Securities and Exchange Commission is conducting an informal investigation into the PC manufacturer related to revenue recognition and other accounting and financial reporting matters.

 

Two former Dell executives have also joined Lenovo. Former China president of Dell, David Miller, has been appointed SVP and Asia Pacific president at Lenovo and Sotaro Amano, who has most recently served at corporate director of Japan home and business sales for Dell, has been named president of Lenovo Japan.