Dell Delivers Record Results in Fiscal-Year 2011 Fourth Quarter and Full Year

• Record earnings per share in fiscal fourth quarter
• Enterprise solutions and services revenue up 27 percent for full year
• Revenue increase of $8.6 billion in FY11 – largest single-year increase in company history

ROUND ROCK, Texas — (BUSINESS WIRE) — February 15, 2011 — Dell’s expanding strength as an enterprise solutions provider and continued strong execution during the fiscal fourth quarter drove record results and one of the company’s most successful financial quarters ever.

Results

• Revenue in the quarter was $15.7 billion and totaled $61.5 billion for the fiscal year, an $8.6 billion or 16 percent increase from the previous fiscal year, including the impact of acquisitions.
• The company had its highest operating income in five years. GAAP operating income was $1.1 billion, or 7.3 percent of revenue. Non-GAAP operating income was $1.3 billion, or 8.2 percent of revenue.
• GAAP earnings per share was a record 48 cents; non-GAAP EPS was 53 cents.
• GAAP gross margin in the quarter was 21 percent and 18.5 percent for the year. Non-GAAP gross margin was 21.5 percent in the quarter and 19.1 percent for the year, the result of record profitability in the enterprise solutions and services business, lower component costs and strong commercial execution.
• Cash flow from operations was $1.5 billion, and Dell ended the quarter with $15 billion in cash and investments.

Fiscal-Year 2011 Fourth Quarter and Full Year Highlights

		Fourth Quarter													Fiscal Year
(in millions)		FY11				FY10				Change					FY11				FY10				Change
Revenue		$	15,692			$	14,900			5	%				$	61,494			$	52,902			16	%
Operating Income (GAAP)		$	1,145			$	510			124	%				$	3,433			$	2,172			58	%
Net Income (GAAP)		$	927			$	334			177	%				$	2,635			$	1,433			84	%
EPS (GAAP)		$	0.48			$	0.17			182	%				$	1.35			$	0.73			85	%
Operating Income (non-GAAP)		$	1,286			$	798			61	%				$	4,149			$	2,974			40	%
Net Income (non-GAAP)		$	1,018			$	544			87	%				$	3,106			$	2,054			51	%
EPS (non-GAAP)		$	0.53			$	0.28			89	%				$	1.59			$	1.05			51	%

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