Dell Profit Continues To Fall
Dell Thursday reported a 79 percent drop in profit as PC sales continued to plummet. The company's profit for the first fiscal quarter of 2014 was $130 million, down from $635 million last year. Sales in Dell's PC division were down 9 percent.
The earnings announcement comes as CEO Michael Dell continues to try to take the company private in a leveraged buyout. In a piece of good news, Dell saw its enterprise systems revenue jump 10 percent.
"As we head into the new fiscal year, we continue to execute on our strategy of being a provider of end-to-end solutions. ... Our continued focus on customers and the ability to meet their needs is evident," said Senior Vice President and CFO Brian Gladden.