Dell Drops in Fourth Quarter
Dragged down by poor notebook sales, Dell’s fourth-quarter income dropped by a third to $673 million and revenue slipped five percent to $14.4 billion, from $15 billion during last year’s quarter.
The declines come during a company restructuring, which recently included the hiring of former Motorola executive vice president Ron Garriques to head up Dell’s new consumer division.
“We are disappointed with the company’s results, but what matters is our future plan of action. We are systematically moving to increase efficiencies, improve execution and transform the company,” said chairman and CEO Michael Dell, who took over the CEO slot following the departure of Kevin Rollins. “Our business model will become more aligned with the needs of our customers, which will improve their experience and yield improved growth and profitability for the long-term.”