Friday, November 15, 2002
Dell Computer said that quarterly profits rose 31 percent as it gained market share, taking back the No. 1 personal computer spot from HP.
The company said it will continue to grow, saying that fourth-quarter shipments could rise 23 percent from the year-ago period and forecasting higher earnings and revenues.
Dell said that net profits for the third quarter ended Nov. 1 rose to $561 million, or 21 cents per share, from $429 million, or 16 cents per share, a year-ago.
Revenue rose to $9.14 billion from $7.47 billion a year earlier.
Dell said lower component costs, cost reductions and an improved mix of products and services contributed to its rise in profits.
Dell builds its personal computers and large server computers to order, allowing it to take advantage of decreases in the cost of such components as microprocessors or circuit boards.
By: DocMemory
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