| Table 2 | DELL - Financial Results | Aug-05 | |||||||
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(Fiscal year end: January 31) | ||||||||
| FY06e | % of | Change | FY05 | % of | FY04 | % of | |||
| ($ Mill) | Rev | 06/05 | ($ Mill) | Rev | ($ Mill) | Rev | |||
| Revenue | (e) | ||||||||
| Sales | $57,100 | 100.0% | 16.0% | $49,205 | 100.0% | $41,444 | 100.0% | ||
| Desktops | $21,300 | 37.3% | 2.5% | $20,800 | 42.3% | $0 | 0.0% | ||
| Mobile Products | $14,800 | 25.9% | 25.0% | $11,800 | 24.0% | $9,532 | 23.0% | ||
| Servers | $5,400 | 9.5% | 10.0% | $4,900 | 10.0% | $4,352 | 10.5% | ||
| Storage | $1,600 | 2.8% | 25.0% | $1,300 | 2.6% | $1,036 | 2.5% | ||
| Software & Peripherals | $8,600 | 15.1% | 30.0% | $6,650 | 13.5% | $5,181 | 12.5% | ||
| Services | $5,400 | 9.5% | 43.8% | $3,755 | 7.6% | $21,344 | 51.5% | ||
| Total Revenue | $57,100 | 100.0% | 16.0% | $49,205 | 100.0% | $41,444 | 100.0% | ||
| 2Q06: | $13,438 | 100.0% | 14.8% | $11,706 | 100.0% | ||||
| Costs | $46,537 | 81.5% | 15.8% | $40,190 | 81.7% | $33,892 | 81.8% | ||
| Cost of Sales | $46,537 | 81.5% | 15.8% | $40,190 | 81.7% | $33,892 | 81.8% | ||
| Gross Profit/Margin | $10,564 | 18.5% | 17.2% | $9,015 | 18.3% | $7,552 | 18.2% | ||
| 2Q06: | $2,499 | 18.6% | 17.1% | $2,134 | 18.2% | ||||
| Expenses | |||||||||
| Research & Development | $514 | 0.9% | 11.0% | $463 | 0.9% | $464 | 1.1% | ||
| Sales, General & Admin. | $5,139 | 9.0% | 19.6% | $4,298 | 8.7% | $3,544 | 8.6% | ||
| Total Expenses | $5,653 | 9.9% | 18.7% | $4,761 | 9.7% | $4,008 | 9.7% | ||
| Operating Profit (Loss) | $4,911 | 8.6% | 15.4% | $4,254 | 8.6% | $3,544 | 8.6% | ||
| 2Q06: | $1,173 | 8.7% | 16.6% | $1,006 | 8.6% | ||||
| Interest Expense (Income) | $200 | 0.4% | 4.7% | $191 | 0.4% | $180 | 0.4% | ||
| Income (Loss) Before Tax | $5,111 | 9.0% | 15.0% | $4,445 | 9.0% | $3,724 | 9.0% | ||
| Income Tax (Benefit) | Tax Rate: | $1,278 | 25.0% | $1,402 | 31.5% | $1,079 | 29.0% | ||
| Net Income (Loss) | $3,833 | 6.7% | 26.0% | $3,043 | 6.2% | $2,645 | 6.4% | ||
| 2Q06: | $1,020 | 7.6% | 27.7% | $799 | 6.8% | ||||
| EPS | $1.58 | 22.8% | $1.29 | ||||||
| Source: Annex Research | |||||||||
