Source: http://news.feedzilla.com/en_us/stories/politics/top-stories/287217452?client_source=feed&format=rss
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Tuesday, February 26, 2013
Ultrasound reveals autism risk at birth
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Public release date: 25-Feb-2013[ | E-mail |
Share ] Contact: Andy McGlashen
andy.mcglashen@cabs.msu.edu
517-355-5158
Michigan State University
Low-birth-weight babies with a particular brain abnormality are at greater risk for autism, according to a new study that could provide doctors a signpost for early detection of the still poorly understood disorder.
Led by Michigan State University, the study found that low-birth-weight newborns were seven times more likely to be diagnosed with autism later in life if an ultrasound taken just after birth showed they had enlarged ventricles, cavities in the brain that store spinal fluid. The results appear in the Journal of Pediatrics.
"For many years there's been a lot of controversy about whether vaccinations or environmental factors influence the development of autism, and there's always the question of at what age a child begins to develop the disorder," said lead author Tammy Movsas, clinical assistant professor of pediatrics at MSU and medical director of the Midland County Department of Public Health.
"What this study shows us is that an ultrasound scan within the first few days of life may already be able to detect brain abnormalities that indicate a higher risk of developing autism."
Movsas and colleagues reached that conclusion by analyzing data from a cohort of 1,105 low-birth-weight infants born in the mid-1980s. The babies had cranial ultrasounds just after birth so the researchers could look for relationships between brain abnormalities in infancy and health disorders that showed up later. Participants also were screened for autism when they were 16 years old, and a subset of them had a more rigorous test at 21, which turned up 14 positive diagnoses.
Ventricular enlargement is found more often in premature babies and may indicate loss of a type of brain tissue called white matter.
"This study suggests further research is needed to better understand what it is about loss of white matter that interferes with the neurological processes that determine autism," said co-author Nigel Paneth, an MSU epidemiologist who helped organize the cohort. "This is an important clue to the underlying brain issues in autism."
Prior studies have shown an increased rate of autism in low-birth-weight and premature babies, and earlier research by Movsas and Paneth found a modest increase in symptoms among autistic children born early or late.
###
The study was supported by a grant from the National Institutes of Health.
Michigan State University has been working to advance the common good in uncommon ways for more than 150 years. One of the top research universities in the world, MSU focuses its vast resources on creating solutions to some of the world's most pressing challenges, while providing life-changing opportunities to a diverse and inclusive academic community through more than 200 programs of study in 17 degree-granting colleges.
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AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.
Public release date: 25-Feb-2013[ | E-mail |
Share ] Contact: Andy McGlashen
andy.mcglashen@cabs.msu.edu
517-355-5158
Michigan State University
Low-birth-weight babies with a particular brain abnormality are at greater risk for autism, according to a new study that could provide doctors a signpost for early detection of the still poorly understood disorder.
Led by Michigan State University, the study found that low-birth-weight newborns were seven times more likely to be diagnosed with autism later in life if an ultrasound taken just after birth showed they had enlarged ventricles, cavities in the brain that store spinal fluid. The results appear in the Journal of Pediatrics.
"For many years there's been a lot of controversy about whether vaccinations or environmental factors influence the development of autism, and there's always the question of at what age a child begins to develop the disorder," said lead author Tammy Movsas, clinical assistant professor of pediatrics at MSU and medical director of the Midland County Department of Public Health.
"What this study shows us is that an ultrasound scan within the first few days of life may already be able to detect brain abnormalities that indicate a higher risk of developing autism."
Movsas and colleagues reached that conclusion by analyzing data from a cohort of 1,105 low-birth-weight infants born in the mid-1980s. The babies had cranial ultrasounds just after birth so the researchers could look for relationships between brain abnormalities in infancy and health disorders that showed up later. Participants also were screened for autism when they were 16 years old, and a subset of them had a more rigorous test at 21, which turned up 14 positive diagnoses.
Ventricular enlargement is found more often in premature babies and may indicate loss of a type of brain tissue called white matter.
"This study suggests further research is needed to better understand what it is about loss of white matter that interferes with the neurological processes that determine autism," said co-author Nigel Paneth, an MSU epidemiologist who helped organize the cohort. "This is an important clue to the underlying brain issues in autism."
Prior studies have shown an increased rate of autism in low-birth-weight and premature babies, and earlier research by Movsas and Paneth found a modest increase in symptoms among autistic children born early or late.
###
The study was supported by a grant from the National Institutes of Health.
Michigan State University has been working to advance the common good in uncommon ways for more than 150 years. One of the top research universities in the world, MSU focuses its vast resources on creating solutions to some of the world's most pressing challenges, while providing life-changing opportunities to a diverse and inclusive academic community through more than 200 programs of study in 17 degree-granting colleges.
[ | E-mail | Share ] ?
AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.
Source: http://www.eurekalert.org/pub_releases/2013-02/msu-ura022513.php
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SND34 Best of Digital Design: Eight single-story projects earn medals
 
February 24th, 2013
Over 100 entries were submitted in the single-story project category, and judges have awarded a total of eight medals. The New York Times led the category with six silver medal winners and one gold medal winner. NPR also won a silver medal.
(Click any of the links below to view the winning entries)
The New York Times:
Build a Pop Song
Signing Science
Lolo Jones, Cleared for Takeoff
The iPhone Economy
The Electoral Map: Presidential Race Ratings and Swing States
512 Paths to the White House
Snow Fall: The Avalanche at Tunnel Creek??(This is the second gold medal for ?Snow Fall.?)
National Public Radio:
Lost And Found: Discover A Black-And-White Era In Full Color
(Kyle Ellis?is a designer for CNN Digital in Atlanta and digital director for the Society for News Design.)
Source: http://www.snd.org/2013/02/snd34-best-of-digital-design-eight-single-story-projects-earn-medals/
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Winterfest a Time to Skate, Sculpt | BU Today | Boston University
In the slideshow above, view photos from Winterfest 2013.
Alums Marissa and Jesse Keppley were ardent BU hockey fans as undergraduates, attending all Terrier home games?even naming their son Colin Parker, after longtime men?s hockey head coach Jack Parker (SMG?68, Hon.?97).
But the Florida natives have never had much ice time themselves. That changed at Winterfest, held this past weekend on the Charles River Campus. On Saturday, Marissa (CAS?09), Jesse (CAS?08, GRS?12), and three-year-old Colin laced up for a turn around the outdoor ice rink set up on Marsh Plaza. ?We were excited about skating,? Marissa Keppley said. ?Marsh is my favorite place on campus. I used to study behind it when the weather was nice.?
Sponsored by the BU Alumni Association, Winterfest was scheduled for February 8 to 10, but was postponed in anticipation of the blizzard that dumped two feet on the region and closed the University. All but one of the activities were rescheduled for this weekend, which drew approximately 800 alumni and other guests to campus. The exception, a cooking demonstration, will take place on Saturday, March 16.
Marissa Keppley (CAS'09) (from left), Colin Parker Keppley, and Jesse Keppley (CAS'08, GRS'12) at the ice skating on the rink set up in Marsh Plaza for Winterfest. Photo by Vernon Doucette
The outdoor skating rink was a first for Winterfest, now in its eighth year. Sandy Miller of Watertown learned to skate as a child, but she eyed the artificial ice skeptically. ?I put my insurance card in here just in case,? said Miller, patting her coat pocket, ?as a good luck charm.? Miller (GSM?77, SED?07) had been to the men?s ice hockey game on Friday night (the Terriers fell to UMass Lowell, 3-0) and attends other BU events now and then throughout the year. ?I got a good education here,? she said. ?It?s close by, and there?s fun stuff to do.?
On Saturday, Marsh Plaza was swirling with activity. As alumni and their families and guests glided?or in many cases, picked?their way across the ice, others lined up to have their photos taken in a giant inflatable snow globe (500 filed through during the day) after sipping cocoa and eating doughnuts.
Eight teams competed in the ice-sculpting competition. They started by sketching on tracing paper in a College of Arts & Science classroom. First-time participants Xuemei Zhong and her seven-year-old daughter, Danielle Gao, were collaborating on a drawing of the Earth, with a dove and a puppy (Danielle?s idea) at the top and the words ?Peace on Earth? at the bottom. ?An adventure,? said Zhong (MED?02), as she surveyed their progress.
Xuemei Zhong (MED'02) and her daughter, Danielle Gao, plan their ice sculpture on paper. Photo by Vernon Doucette
Outside on the plaza, the teams chiseled, chipped, and scraped large blocks of ice into a dragon, a polar bear, and R2-D2. The winners: Derrick Kwan (CAS?14) and Meera Ganesan (CAS?13), for their sculpture, ?Baby Patrick,? based on the starfish in SpongeBob SquarePants. The two hadn?t planned on participating, but they were on their way to study at Mugar when they stopped by for hot chocolate. ?We saw free stuff,? Kwan said.
Elsewhere, alums and their families tested their skills on the rock-climbing wall at the Fitness & Recreation Center?Ellen Mak (MET?99) snapped pictures of her children, Audrey 11, and Andrew, 8, as they ascended?and worked off the doughnuts at a zumba class.
Alumni and student broomball teams hit the ice in the second annual broomball tournament at Walter Brown Arena, with the alums picking up a win?again. Photo by Chitose Suzuki
On Friday evening, teams made up of students and alumni faced off in the second annual broomball tournament. The championship match took place after the men?s hockey game, and for the second year, an alumni team came out on top?3-0. The women?s hockey Terriers had similar success on Saturday, coming from behind to beat Connecticut 7-5 at Walter Brown Arena.
Marc DeCastro of Maynard, his wife, Wanda, and their two children made their way to Winterfest for the first time this year. Noah, 10, was interested in the arts and cultural activities, and 13-year-old Nicholas was curious about college life and ?the campus Daddy used to hang out on,? said DeCastro (SMG?90), as he watched the boys skate on Saturday. The family also had tickets to see the women?s hockey game.
The one thing DeCastro wasn?t about to do: join his sons on the ice. ?I like my ankles too much today.?
Source: http://www.bu.edu/today/2013/winterfest-a-time-to-skate-sculpt/
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Oscars 2013: Seth MacFarlane Opens With 'We Saw Your Boobs'
Oscars host performs a risqué song and dance, despite warnings from William Shatner as Captain James T. Kirk.
By Brett White
Seth MacFarlane at the 2013 Oscars
Photo: Kevin Winter/ Getty Images
Source: http://www.mtv.com/news/articles/1702510/seth-macfarlane-boobs-lyrics-oscars-2013.jhtml
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Thursday, February 21, 2013
Court backs documentary maker Burns in battle with NYC
NEW YORK (Reuters) - Filmmaker Ken Burns won a favorable ruling in a battle to keep outtakes from his 2012 documentary "The Central Park Five" from the New York City Police Department after a federal judge in Manhattan sided with his production company on Tuesday.
Last October, the city subpoenaed all images, audio tapes and other items related to the making of the documentary, which chronicles the conviction of five black and Hispanic teenage boys for the brutal 1989 rape of Trisha Meili, a white woman who was jogging in Central Park. The case was reversed in 2002, leading to a still-unresolved $250 million lawsuit that the so-called "Central Park Five" and their families brought against the city and the police department.
The city said it wanted the material because parts of the film conflicted with prior testimony some of the plaintiffs provided in their criminal trials, among other reasons, according to court papers.
Burns' production company, Florentine Films, motioned to quash the subpoena, arguing in part that they were protected under New York's shield law for journalists. The city countered that Florentine failed to qualify for the protection, in part because the filmmakers had a "longstanding sympathetic relationship with the plaintiffs."
U.S. Magistrate Judge Ronald Ellis agreed with Florentine, writing that it met its burden in demonstrating journalistic independence with the film.
"It was a marvelous decision, of great value to the media industry generally and to documentary filmmakers in particular," said John Siegal, an attorney representing Florentine.
The city said it was reviewing its options.
"This film is a one-sided advocacy piece that depicts the plaintiffs' version of events as undisputed fact. It is our view that we should be able to view the complete interviews, not just those portions that the filmmakers chose to include," Celeste Koeleveld, a senior lawyer for the city, said in a prepared statement.
The case is In re McRay, Richardson, Santana, Wise and Salaam Litigation, U.S. District Court for the Southern District of New York, No. 03-09974.
(Reporting By Bernard Vaughan; Editing by Daniel Trotta, Bernard Orr)
Source: http://news.yahoo.com/court-backs-documentary-maker-burns-battle-nyc-002510493.html
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Wednesday, February 20, 2013
Dell reports Q4 2013 earnings: $14.3 billion in revenue as profits plummet 31 percent year-over-year
Dell hasn't had good news to share during its quarterly earnings reports in quite sometime. And on the eve of it going private, things don't appear to be on the verge of changing. The fourth quarter of its fiscal year 2013 saw the company rake in revenues totaling $14.3 billion, which is up slightly from Q3, but down 11 percent from the same period last year. The story gets even worse when looking at profit. A net income of $530 million represented a 31 percent drop year-over-year. Again, not nearly as bad as last quarter, but still a stunningly steep drop off for a manufacturer that was once at the pinnacle of the industry. The crash is particularly stunning when you look at the consumer division, which was once Dell's bread-and-butter.
Revenue there was down 24 percent year-over-year and operating income has dropped by a staggering 87 percent. In fact, almost every division within Dell has seen its revenue and income drop, with the exception of servers and networking, which enjoyed an 18 percent growth from Q4 of 2012, pulling in just over $2.6 billion. As we've said before, though, the few enterprise-related bright spots are likely not enough to hold off the company's continued slide. Lets just hope that loan from Microsoft is put to good use. Check out the full financial monty after the break.
Dell Reports Fourth Quarter, Full Fiscal Year Financial Results
Revenue of $14.3 billion in fourth quarter, $56.9 billion for the year
ROUND ROCK, Texas, Feb 19, 2013 (BUSINESS WIRE) -- --GAAP earnings of $0.30 per share in quarter, $1.35 per share for full year; non-GAAP earnings of $0.40 per share in quarter and $1.72 per share for full year
--Cash flow from operations of $1.4 billion; $3.3 billion for fiscal year
Dell announced fiscal 2013 fourth quarter and full-year results today, with revenue of $14.3 billion for the quarter and $56.9 billion for the year. Revenue from enterprise solutions and services grew 6 percent in the quarter to $5.2 billion and was $19.4 billion, or 34 percent of Dell revenue for the fiscal year, a 4 percent gain over fiscal year 2012.
"We continued to execute our long-term strategy in Q4, and realized a 6 percent increase in our enterprise solutions and services business," said Brian Gladden, Dell CFO. "We also continued to generate strong cash flow from operations of $1.4 billion in the quarter. Our strong balance sheet and cash position enabled the company to invest almost $5 billion in new capabilities and intellectual property this fiscal year, including great assets like Quest, SonicWall, Wyse and AppAssure."
Results
-- Revenue in the quarter was $14.3 billion, an 11 percent decrease from the previous year, and a 4 percent increase sequentially. Revenue for the 2013 fiscal year was $56.9 billion, an 8 percent decrease. Dell's fiscal year 2012 had an extra week, which was incorporated into the company's Q4 results.
-- GAAP operating income for the quarter was $698 million, or 4.9 percent of revenue. Non-GAAP operating income was $954 million, or 6.7 percent of revenue. Gross margins for the quarter benefitted by approximately $250 million, primarily resulting from vendor settlements. For the fiscal year, GAAP operating income was $3 billion and non-GAAP operating income was $4 billion.
-- GAAP earnings per share in the quarter was 30 cents, down 30 percent from the previous year; non-GAAP EPS was 40 cents, down 22 percent. For the fiscal year, GAAP EPS was $1.35, down 28 percent year over year and non-GAAP EPS was $1.72, down 19 percent.
-- Cash flow from operations in the quarter was $1.4 billion, and Dell ended Q4 with $15.3 billion in cash and investments. Full-year cash flow from operations was $3.3 billion.
Fiscal-Year 2013 Fourth Quarter and Full Year Highlights
Fourth Quarter Fiscal Year
(in millions) FY13 FY12 Change FY13 FY12 Change
-------- -------- ------ -------- -------- ------
Revenue $ 14,314 $ 16,031 (11 %) $ 56,940 $ 62,071 (8 %)
Operating Income (GAAP) $ 698 $ 931 (25 %) $ 3,012 $ 4,431 (32 %)
Net Income (GAAP) $ 530 $ 764 (31 %) $ 2,372 $ 3,492 (32 %)
EPS (GAAP) $ 0.30 $ 0.43 (30 %) $ 1.35 $ 1.88 (28 %)
Operating Income (non-GAAP) $ 954 $ 1,143 (17 %) $ 3,973 $ 5,135 (23 %)
Net Income (non-GAAP) $ 702 $ 913 (23 %) $ 3,017 $ 3,952 (24 %)
EPS (non-GAAP) $ 0.40 $ 0.51 (22 %) $ 1.72 $ 2.13 (19 %)
Information about Dell's use of non-GAAP financial information is provided under "Non-GAAP Financial Measures" below. Non-GAAP financial information excludes costs related primarily to the amortization of purchased intangibles, severance and facility-action costs, certain settlement costs and acquisition-related charges. All comparisons in this press release are year over year unless otherwise noted.
Products and Solutions:
-- Dell server revenue increased 5 percent driven by strong growth in the company's hyper-scale data center solutions business and migration to the company's 12th-generation servers. The 12G-server line now represents almost 80 percent of Dell PowerEdge server revenue at average selling prices and margins that are a premium over previous-generation servers.
-- Dell networking continued to deliver strong growth, with a 42 percent revenue increase, including more than 100 percent growth in the company's Force10 business.
-- Dell Quest software delivered revenue over the company's stated target of $180-$200 million for the quarter. The company's security software business also grew sequentially.
-- Dell desktop and mobility business revenue declined 20 percent and was up 3 percent sequentially.
Business Units and Regions:
-- Large Enterprise had revenue of $4.7 billion in the quarter, a 7 percent decrease. Operating income for the quarter was $393 million, a 16 percent decrease. Server and networking revenue increased 25 percent and ES&S business grew 10 percent. Revenue for the full year was $17.8 billion, down 5 percent from the previous year.
-- Public revenue was $3.5 billion, a 9 percent decrease. Operating income for the quarter was $236 million, a 25 percent decrease. Servers and networking revenue grew 11 percent. Revenue for the full year was $14.8 billion, down 8 percent from the previous year.
-- Small and Medium Business revenue was $3.4 billion, a 5 percent decrease. Operating income for the quarter was $385 million, a 4 percent decrease. SMB enterprise solutions and services sales increased 9 percent for the quarter, driven by servers and networking growth of 13 percent and services revenue growth of 17 percent. Revenue for the full year was $13.4 billion, down 1 percent from the previous year.
-- Consumer revenue was $2.8 billion, a 24 percent decline for the quarter. Operating income was $8 million, an 87 percent decrease. Revenue for the full year was $10.9 billion, down 20 percent from the previous year.
-- EMEA revenue decreased 14 percent in the quarter, Americas was down 10 percent, and Asia-Pacific and Japan declined 9 percent.
Company Outlook:
Given the company's announcement Feb. 5 of a definitive merger agreement to take Dell private, the company is not providing an outlook for its fiscal 2014 or Q1.
About Dell
Dell Inc. DELL +0.33% listens to customers and delivers worldwide innovative technology, business solutions and services they trust and value. For more information, visit www.dell.com. The fourth-quarter analyst call with Brian Gladden, CFO, and Tom Sweet, Corporate Controller, will be webcast live today at 4 p.m. CST and archived at www.dell.com/investor. To monitor highlighted facts from the analyst call, follow on the Dell Investor Relations Twitter account at: http://twitter.com/dellshares or hashtag #DellEarnings. To communicate directly with Dell, go to www.dell.com/dellshares.
Segment Realignment:
In the first quarter of Fiscal 2013, Dell made certain segment realignments in order to conform to the way Dell internally manages segment performance. These realignments affected all of Dell's operating segments, but primarily consisted of the transfer of small office business customers from the Small and Medium Business segment to the Consumer Segment. Dell has recast prior period amounts to provide visibility and comparability. None of these changes impacts Dell's previously reported consolidated net revenue, gross margin, operating income, net income, or earnings per share.
Non-GAAP Financial Measures:
This press release includes information about non-GAAP operating income, non-GAAP net income, and non-GAAP earnings per share (collectively with non-GAAP gross margin and non-GAAP operating expenses, the "non-GAAP financial measures"), which are not measurements of financial performance prepared in accordance with U.S. generally accepted accounting principles. In the following tables, Dell has provided a reconciliation of each historical non-GAAP financial measure to the most directly comparable GAAP financial measure under the heading "Reconciliation of Non-GAAP Financial Measures." Dell encourages investors to review the reconciliation in conjunction with Dell's presentation of these non-GAAP financial measures.
Special Note on Forward Looking Statements:
Statements in this press release that relate to future results and events (including statements about trends relating to macroeconomic challenges, effects of our server business, and government demand) are forward-looking statements and are based on Dell's current expectations. In some cases, you can identify these statements by such forward-looking words as "anticipate," "believe," "could," "estimate," "expect," "intend," "confidence," "may," "plan," "potential," "should," "will" and "would," or similar expressions. Actual results and events in future periods may differ materially from those expressed or implied by these forward-looking statements because of a number of risks, uncertainties and other factors, including: intense competition; Dell's reliance on third-party suppliers for product components, including reliance on several single-sourced or limited-sourced suppliers; Dell's ability to achieve favorable pricing from its vendors; weak global economic conditions and instability in financial markets; Dell's ability to manage effectively the change involved in implementing strategic initiatives; successful implementation of Dell's acquisition strategy; Dell's cost-efficiency measures; Dell's ability to effectively manage periodic product and services transitions; Dell's ability to deliver consistent quality products and services; Dell's ability to generate substantial non-U.S. net revenue; Dell's product, customer, and geographic sales mix, and seasonal sales trends; the performance of Dell's sales channel partners; access to the capital markets by Dell or its customers; weak economic conditions and additional regulation affecting our financial services activities; counterparty default; customer terminations of or pricing changes in services contracts, or Dell's failure to perform as it anticipates at the time it enters into services contracts; loss of government contracts; Dell's ability to obtain licenses to intellectual property developed by others on commercially reasonable and competitive terms; infrastructure disruptions; cyber-attacks or other data security breaches; Dell's ability to hedge effectively its exposure to fluctuations in foreign currency exchange rates and interest rates; expiration of tax holidays or favorable tax rate structures, or unfavorable outcomes in tax audits and other compliance matters; impairment of portfolio investments; unfavorable results of legal proceedings; Dell's ability to attract, retain, and motivate key personnel; Dell's ability to maintain strong internal controls; changing environmental and safety laws; the effect of armed hostilities, terrorism, natural disasters, and public health issues; and other risks and uncertainties discussed in Dell's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for its fiscal year ended February 3, 2012. Factors or risks that could cause our actual results to differ materially from the results we anticipate also include: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; (2) the inability to complete the proposed merger due to the failure to obtain stockholder approval for the proposed merger or the failure to satisfy other conditions to completion of the proposed merger, including that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the transaction; (3) the failure to obtain the necessary financing arrangements set forth in the debt and equity commitment letters delivered pursuant to the merger agreement; (4) risks related to disruption of management's attention from the Company's ongoing business operations due to the transaction; and (5) the effect of the announcement of the proposed merger on the Company's relationships with its customers, operating results and business generally. Dell assumes no obligation to update its forward-looking statements.
Additional Information and Where to Find It
In connection with the proposed merger transaction, the Company will file with the SEC and furnish to the Company's stockholders a proxy statement and other relevant documents. These materials do not constitute a solicitation of any vote or approval. Stockholders are urged to read the proxy statement when it becomes available and any other documents to be filed with the SEC in connection with the proposed merger or incorporated by reference in the proxy statement because they will contain important information about the proposed merger.
Investors will be able to obtain a free copy of documents filed with the SEC at the SEC's website at http://www.sec.gov. In addition, investors may obtain a free copy of the Company's filings with the SEC from the Company's website at http://content.dell.com/us/en/corp/investor-financial-reporting.aspx or by directing a request to: Dell Inc. One Dell Way, Round Rock, Texas 78682, Attn: Investor Relations, (512) 728-7800, investor_relations@dell.com.
The directors, executive officers and certain other members of management and employees of the Company may be deemed "participants" in the solicitation of proxies from stockholders of the Company in favor of the proposed merger. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the stockholders of the Company in connection with the proposed merger will be set forth in the proxy statement and the other relevant documents to be filed with the SEC. You can find information about the Company's executive officers and directors in its Annual Report on Form 10-K for the fiscal year ended February 3, 2012 and in its definitive proxy statement filed with the SEC on Schedule 14A on May 24, 2012.
Consolidated statements of income, financial position and cash flows and other financial data follow.
Dell is a trademark of Dell Inc. Dell disclaims any proprietary interest in the marks and names of others.
DELL INC. Condensed Consolidated Statement of Income and Related Financial Highlights (in millions, except per share data and percentages; percentage growth rates and ratios are calculated based on underlying data in thousands) (unaudited)
Three Months Ended % Growth Rates
------------------------------------------------------- -------------------------------------------
February 1, November 2, February 3, Sequential Yr. to Yr.
2013(1) 2012 (1) 2012
------------ ------------ -------------------- ------------------- -------------------
Net revenue
Products $ 11,212 $ 10,706 $ 12,925 5 % (13)%
Services, including software related 3,102 3,015 3,106 3 % -- %
------ ------ --------------
Total net revenue 14,314 13,721 16,031 4 % (11)%
------ ------ --------------
Cost of net revenue
Products 9,169 8,904 10,521 3 % (13)%
Services, including software related 2,036 1,945 2,125 5 % (4)%
------ ------ --------------
Total cost of net revenue 11,205 10,849 12,646 3 % (11)%
------ ------ --------------
Gross margin 3,109 2,872 3,385 8 % (8)%
Operating expenses
Selling, general, and administrative 2,104 2,013 2,218 5 % (5)%
Research, development, and engineering 307 270 236 14 % 30 %
------ ------ --------------
Total operating expenses 2,411 2,283 2,454 6 % (2)%
------ ------ --------------
Operating income 698 589 931 19 % (25)%
Interest and other, net (38) (38) (24) (2)% (59)%
------ --- ------ --- -------------- ---
Income before income taxes 660 551 907 20 % (27)%
Income tax provision 130 76 143 70 % (9)%
------ ------ --------------
Net income $ 530 $ 475 $ 764 12 % (31)%
=== ====== === ====== === ==============
Earnings per share:
Basic $ 0.30 $ 0.27 $ 0.43 11 % (30)%
=== ====== === ====== === ==============
Diluted $ 0.30 $ 0.27 $ 0.43 11 % (30)%
=== ====== === ====== === ==============
Cash dividends declared per common share $ 0.08 $ 0.08 $ --
Weighted average shares outstanding:
Basic 1,738 1,735 1,778 -- % (2)%
Diluted 1,748 1,742 1,796 -- % (3)%
Percentage of Total Net Revenue:
---------------------------------------------------------------
Gross margin 21.7 % 20.9 % 21.1 %
Selling, general, and administrative 14.7 % 14.7 % 13.8 %
Research, development, and engineering 2.1 % 1.9 % 1.5 %
Operating expenses 16.8 % 16.6 % 15.3 %
Operating income 4.9 % 4.3 % 5.8 %
Income before income taxes 4.6 % 4.0 % 5.7 %
Net income 3.7 % 3.5 % 4.8 %
Income tax rate 19.7 % 13.8 % 15.8 %
Net Revenue by Product Category:
---------------------------------------------------------------
Servers and Networking (1) $ 2,623 $ 2,322 $ 2,220 13 % 18 %
Storage 434 386 500 12 % (13)%
Services 2,112 2,107 2,179 -- % (3)%
Third-party software and peripherals 2,275 2,258 2,558 1 % (11)%
Mobility 3,674 3,523 4,877 4 % (25)%
Desktop PCs 3,196 3,125 3,697 2 % (14)%
------ ------ --------------
Consolidated net revenue $ 14,314 $ 13,721 $ 16,031 4 % (11)%
=== ====== === ====== === ==============
Percent of Total Net Revenue:
---------------------------------------------------------------
Servers and Networking (1) 18 % 17 % 14 %
Storage 3 % 3 % 3 %
Services 15 % 15 % 14 %
Third-party software and peripherals 16 % 16 % 16 %
Mobility 26 % 26 % 30 %
Desktop PCs 22 % 23 % 23 %
Net Revenue by Global Segment:
(2)
---------------------------------------------------------------
Large Enterprise $ 4,653 $ 4,156 $ 4,982 12 % (7)%
Public 3,473 3,824 3,833 (9)% (9)%
Small and Medium Business 3,396 3,282 3,560 3 % (5)%
Consumer 2,792 2,459 3,656 14 % (24)%
------ ------ --------------
Consolidated net revenue $ 14,314 $ 13,721 $ 16,031 4 % (11)%
=== ====== === ====== === ==============
Percentage of Total Net Revenue:
(2)
---------------------------------------------------------------
Large Enterprise 33 % 30 % 31 %
Public 24 % 28 % 24 %
Small and Medium Business 24 % 24 % 22 %
Consumer 19 % 18 % 23 %
Consolidated Operating Income:
(2)
---------------------------------------------------------------
Large Enterprise $ 393 $ 325 $ 467
Public 236 352 312
Small and Medium Business 385 349 399
Consumer 8 (65) 61
------ ------ --- --------------
Segment operating income 1,022 961 1,239
Broad based long-term incentives (68) (75) (96)
Amortization of intangible assets (188) (165) (104)
Severance and facility actions and acquisition-related costs (68) (132) (108)
------ --- ------ --- -------------- ---
Consolidated operating income $ 698 $ 589 $ 931
=== ====== === ====== === ==============
(1) Includes the results of Dell's Fiscal 2013 acquisitions from their respective acquisition dates. Servers and Networking includes our Fiscal 2013 Software acquisitions (Quest Software, SonicWALL, and AppAssure).
(2) Segment Results for Fiscal 2012 have been recast to conform to segment realignments that were completed during the first quarter of Fiscal 2013. See Supplemental Segment Information at the end of these financial tables for more information.
DELL INC. Condensed Consolidated Statement of Income and Related Financial Highlights (continued) (in millions, except per share data and percentages; percentage growth rates and ratios are calculated based on underlying data in thousands) (unaudited)
Fiscal Year Ended % Growth Rates
--------------------------------------- -----------------------
February 1, February 3, Yr. to Yr.
2013 (1) 2012
------------ -------------------- ---------------------
Net revenue
Products $ 44,744 $ 49,906 (10)%
Services, including software related 12,196 12,165 -- %
------ --------------
Total net revenue 56,940 62,071 (8)%
------ --------------
Cost of net revenue
Products 36,683 39,689 (8)%
Services, including software related 8,071 8,571 (6)%
------ --------------
Total cost of net revenue 44,754 48,260 (7)%
------ --------------
Gross margin 12,186 13,811 (12)%
Operating expenses
Selling, general, and administrative 8,102 8,524 (5)%
Research, development, and engineering 1,072 856 25 %
------ --------------
Total operating expenses 9,174 9,380 (2)%
------ --------------
Operating income 3,012 4,431 (32)%
Interest and other, net (171) (191) 10 %
------ --- -------------- ---
Income before income taxes 2,841 4,240 (33)%
Income tax provision 469 748 (37)%
------ --------------
Net income $ 2,372 $ 3,492 (32)%
=== ====== === ==============
Earnings per share:
Basic $ 1.36 $ 1.90 (28)%
=== ====== === ==============
Diluted $ 1.35 $ 1.88 (28)%
=== ====== === ==============
Cash dividends declared per common share $ 0.16 $ --
Weighted average shares outstanding:
Basic 1,745 1,838 (5)%
Diluted 1,755 1,853 (5)%
Percentage of Total Net Revenue:
---------------------------------------------------------------
Gross margin 21.4 % 22.3 %
Selling, general, and administrative 14.2 % 13.7 %
Research, development, and engineering 1.9 % 1.5 %
Operating expenses 16.1 % 15.2 %
Operating income 5.3 % 7.1 %
Income before income taxes 5.0 % 6.8 %
Net income 4.2 % 5.6 %
Income tax rate 16.5 % 17.6 %
Net Revenue by Product Category:
---------------------------------------------------------------
Servers and Networking (1) $ 9,294 $ 8,336 11 %
Storage 1,699 1,943 (13)%
Services 8,396 8,322 1 %
Third-party software and peripherals 9,257 10,222 (9)%
Mobility 15,303 19,104 (20)%
Desktop PCs 12,991 14,144 (8)%
------ --------------
Consolidated net revenue $ 56,940 $ 62,071 (8)%
=== ====== === ==============
Percent of Total Net Revenue:
---------------------------------------------------------------
Servers and Networking (1) 16 % 13 %
Storage 3 % 3 %
Services 15 % 13 %
Third-party software and peripherals 16 % 17 %
Mobility 27 % 31 %
Desktop PCs 23 % 23 %
Net Revenue by Global Segment:
(2)
---------------------------------------------------------------
Large Enterprise $ 17,781 $ 18,786 (5)%
Public 14,828 16,070 (8)%
Small and Medium Business 13,413 13,547 (1)%
Consumer 10,918 13,668 (20)%
------ --------------
Consolidated net revenue $ 56,940 $ 62,071 (8)%
=== ====== === ==============
Percentage of Total Net Revenue:
(2)
---------------------------------------------------------------
Large Enterprise 31 % 30 %
Public 26 % 26 %
Small and Medium Business 24 % 22 %
Consumer 19 % 22 %
Consolidated Operating Income:
(2)
---------------------------------------------------------------
Large Enterprise $ 1,553 $ 1,889
Public 1,238 1,584
Small and Medium Business 1,505 1,581
Consumer (11) 433
------ --- --------------
Segment operating income 4,285 5,487
Broad based long-term incentives (312) (352)
Amortization of intangible assets (613) (391)
Severance and facility actions and acquisition-related costs (348) (313)
------ --- -------------- ---
Consolidated operating income $ 3,012 $ 4,431
=== ====== === ==============
(1) Includes the results of Dell's Fiscal 2013 acquisitions from their respective acquisition dates. Servers and Networking includes our Fiscal 2013 Software acquisitions (Quest Software, SonicWALL, and AppAssure).
(2) Segment Results for Fiscal 2012 have been recast to conform to segment realignments that were completed during the first quarter of Fiscal 2013. See Supplemental Segment Information at the end of these financial tables for more information.
DELL INC. Condensed Consolidated Statement of Financial Position and Related Financial Highlights (in millions, except for ratios; ratios are calculated based on underlying data in thousands) (unaudited)
February 1, 2013 November 2, 2012 (1) February 3, 2012 (1)
----------------- --------------------- ------------------------
Assets:
----------------------------------------
Current assets:
Cash and cash equivalents $ 12,569 $ 10,991 $ 13,852
Short-term investments 208 281 966
Accounts receivable, net 6,629 6,187 6,476
Short-term financing receivables, net 3,213 3,151 3,327
Inventories, net 1,382 1,364 1,404
Other current assets 3,967 3,688 3,423
------ ------ --------------
Total current assets 27,968 25,662 29,448
Property, plant, and equipment, net 2,126 2,156 2,124
Long-term investments 2,565 2,908 3,404
Long-term financing receivables, net 1,349 1,354 1,372
Goodwill 9,304 9,191 5,838
Purchased intangible assets, net 3,374 3,511 1,857
Other non-current assets 854 664 490
------ ------ --------------
Total assets $ 47,540 $ 45,446 $ 44,533
===== ====== ====== ====== ====== ==============
Liabilities and Stockholders' Equity:
----------------------------------------
Current liabilities:
Short-term debt $ 3,843 $ 3,724 $ 2,867
Accounts payable 11,579 10,556 11,656
Accrued and other 3,644 3,324 3,740
Short-term deferred revenue 4,373 4,207 3,738
------ ------ --------------
Total current liabilities 23,439 21,811 22,001
Long-term debt 5,242 5,310 6,387
Long-term deferred revenue 3,971 3,963 3,855
Other non-current liabilities 4,187 4,164 3,373
------ ------ --------------
Total liabilities 36,839 35,248 35,616
------ ------ --------------
Total Dell stockholders' equity 10,680 10,177 8,917
Noncontrolling interest 21 21 --
------ ------ --------------
Total stockholders' equity 10,701 10,198 8,917
------ ------ --------------
Total liabilities and equity $ 47,540 $ 45,446 $ 44,533
===== ====== ====== ====== ====== ==============
Ratios:
----------------------------------------
Days of sales outstanding (2) 46 45 42
Days supply in inventory 11 11 11
Days in accounts payable (93) (88) (89)
------ --- ------ ------ -------------- -
Cash conversion cycle (36) (32) (36)
------ --- ------ ------ -------------- -
Average total revenue/unit (approximate) 1,390 $ 1,410 $ 1,330
(1) Certain prior year amounts have been reclassified from accrued and other liabilities and other non-current liabilities on the Condensed Consolidated Statements of Financial Position to short-term deferred revenue and long-term deferred revenue, respectively, to conform to the current year presentation.
(2) Days of sales outstanding ("DSO") is based on the ending net trade receivables and most recent quarterly revenue for each period. DSO includes the effect of product costs related to customer shipments not yet recognized as revenue that are classified as other current assets. At February 1, 2013, November 2, 2012, and February 3, 2012, DSO and days of customer shipments not yet recognized were 42 and 4 days, 41 and 4 days, and 39 and 3 days, respectively.
DELL INC.
Condensed Consolidated Statements of Cash Flows
(in millions, unaudited)
Three Months Ended Fiscal Year Ended
----------------------------------------------- ---------------------------------------
February 1, February 3, February 1, February 3,
2013 2012 (1) 2013 2012 (1)
-------------------- -------------------- ------------ --------------------
Cash flows from operating activities:
Net income $ 530 $ 764 $ 2,372 $ 3,492
Adjustments to reconcile net income to net cash provided by
operating activities:
Depreciation and amortization 321 249 1,144 936
Stock-based compensation 71 101 347 362
Effects of exchange rate changes on monetary assets and liabilities 3 14 18 (5)
denominated in foreign currencies
Deferred income taxes (321) 110 (428) 19
Provision for doubtful accounts -- including financing receivables 73 67 258 234
Other (3) (25) 19 21
Changes in assets and liabilities, net of effects from acquisitions:
Accounts receivable (444) 137 (150) (53)
Financing receivables (142) (210) (193) (372)
Inventories (19) (6) 48 (52)
Other assets -- (251) (334) (28)
Accounts payable 1,030 558 (74) 327
Deferred revenue 192 190 382 701
Accrued and other liabilities 150 139 (126) (55)
-------------- -------------- ------ --- -------------- ---
Change in cash from operating activities 1,441 1,837 3,283 5,527
-------------- -------------- ------ --------------
Cash flows from investing activities:
Investments:
Purchases (784) (2,237) (2,615) (4,656)
Maturities and sales 1,198 579 4,354 1,435
Capital expenditures (130) (165) (513) (675)
Proceeds from sale of facilities, land, and other assets 54 2 135 14
Collections on purchased financing receivables 31 74 167 278
Acquisition of business, net of cash received (136) 2 (4,844) (2,562)
-------------- --- -------------- ------ --- -------------- ---
Change in cash from investing activities 233 (1,745) (3,316) (6,166)
-------------- -------------- --- ------ --- -------------- ---
Cash flows from financing activities:
Repurchase of common stock -- (537) (724) (2,717)
Cash dividends paid (139) -- (278) --
Issuance of common stock under employee plans 3 6 52 40
Issuance (repayment) of commercial paper (maturity 90 days or less), (39) 635 (331) 635
net
Proceeds from debt 521 733 3,311 4,050
Repayments of debt (426) (380) (3,248) (1,435)
Other -- 1 8 4
-------------- -------------- ------ --------------
Change in cash from financing activities (80) 458 (1,210) 577
-------------- --- -------------- ------ --- --------------
Effect of exchange rate changes on cash and cash equivalents (16) 9 (40) 1
-------------- --- -------------- ------ --- --------------
Change in cash and cash equivalents 1,578 559 (1,283) (61)
Cash and cash equivalents at beginning of the period 10,991 13,293 13,852 13,913
-------------- -------------- ------ --------------
Cash and cash equivalents at end of the period $ 12,569 $ 13,852 $ 12,569 $ 13,852
=== ============== === ============== === ====== === ==============
(1) Certain prior year amounts have been reclassified from accrued and other liabilities and other non-current liabilities on the Condensed Consolidated Statements of Financial Position to short-term deferred revenue and long-term deferred revenue, respectively, to conform to the current year presentation. Prior period amounts on the Condensed Consolidated Statements of Cash Flows have been reclassified to conform to the current period presentation.
SUPPLEMENTAL NON-GAAP FINANCIAL MEASURES
The following tables include information about non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, and non-GAAP earnings per share (collectively, the "non-GAAP financial measures"), which are not measurements of financial performance prepared in accordance with U.S. generally accepted accounting principles. Dell has provided a reconciliation of the historical non-GAAP financial measures to the most directly comparable GAAP measures in the below tables. A detailed discussion of Dell's reasons for including the non-GAAP financial measures and the limitations associated with those measures is presented in "Management's Discussion and Analysis of Financial Condition and Results of Operations - Results of Operations - Non-GAAP Financial Measures" in Dell's annual report on Form 10-K for the financial year ended February 3, 2012. Dell encourages investors to review the historical reconciliation and the non-GAAP discussion in conjunction with the presentation of non-GAAP financial measures.
DELL INC. Reconciliation of Non-GAAP Financial Measures (in millions, except per share data and percentages; percentage growth rates and ratios are calculated based on underlying data in thousands) (unaudited)
Three Months Ended % Growth Rates
-------------------------------------------- ------------------------
February 1, November 2, February 3, Sequential Yr. to Yr.
2013 (1) 2012 (1) 2012
----------- ----------- ----------- --------- ----------
GAAP gross margin $ 3,109 $ 2,872 $ 3,385 8 % (8)%
Non-GAAP adjustments:
Amortization of intangibles 138 120 83
Severance and facility actions and acquisition-related costs 11 21 15
----- ----- -----
Non-GAAP gross margin $ 3,258 $ 3,013 $ 3,483 8 % (6)%
=== ===== === ===== === =====
GAAP operating expenses $ 2,411 $ 2,283 $ 2,454 6 % (2)%
Non-GAAP adjustments:
Amortization of intangibles (50) (45) (21)
Severance and facility actions and acquisition-related costs (57) (111) (93)
----- --- ----- --- ----- ---
Non-GAAP operating expenses $ 2,304 $ 2,127 $ 2,340 8 % (2)%
=== ===== === ===== === =====
GAAP operating income $ 698 $ 589 $ 931 19 % (25)%
Non-GAAP adjustments:
Amortization of intangibles 188 165 104
Severance and facility actions and acquisition-related costs 68 132 108
----- ----- -----
Non-GAAP operating income $ 954 $ 886 $ 1,143 8 % (17)%
=== ===== === ===== === =====
GAAP net income $ 530 $ 475 $ 764 12 % (31)%
Non-GAAP adjustments:
Amortization of intangibles 188 165 104
Severance and facility actions and acquisition-related costs 68 132 108
Aggregate adjustment for income taxes (84) (93) (63)
----- --- ----- --- ----- ---
Non-GAAP net income $ 702 $ 679 $ 913 3 % (23)%
=== ===== === ===== === =====
GAAP earnings per share - diluted $ 0.30 $ 0.27 $ 0.43 11 % (30)%
Non-GAAP adjustments per share - diluted 0.10 0.12 0.08
----- ----- -----
Non-GAAP earnings per share - diluted $ 0.40 $ 0.39 $ 0.51 3 % (22)%
=== ===== === ===== === =====
Diluted WAS 1,748 1,742 1,796
Percentage of Total Net Revenue:
---------------------------------------------------------------
GAAP gross margin 21.7 % 20.9 % 21.1 %
Non-GAAP adjustment 1.1 % 1.1 % 0.6 %
----- --- ----- --- ----- ---
Non-GAAP gross margin 22.8 % 22.0 % 21.7 %
===== === ===== === ===== ===
GAAP operating expenses 16.8 % 16.6 % 15.3 %
Non-GAAP adjustment (0.7)% (1.1)% (0.7)%
----- --- ----- --- ----- ---
Non-GAAP operating expenses 16.1 % 15.5 % 14.6 %
===== === ===== === ===== ===
GAAP operating income 4.9 % 4.3 % 5.8 %
Non-GAAP adjustment 1.8 % 2.2 % 1.3 %
----- --- ----- --- ----- ---
Non-GAAP operating income 6.7 % 6.5 % 7.1 %
===== === ===== === ===== ===
GAAP net income 3.7 % 3.5 % 4.8 %
Non-GAAP adjustment 1.2 % 1.4 % 0.9 %
----- --- ----- --- ----- ---
Non-GAAP net income 4.9 % 4.9 % 5.7 %
===== === ===== === ===== ===
(1) Includes the results of Dell's Fiscal 2013 acquisitions from their respective acquisition dates.
DELL INC. Reconciliation of Non-GAAP Financial Measures (in millions, except per share data and percentages; percentage growth rates and ratios are calculated based on underlying data in thousands) (unaudited)
Fiscal Year Ended % Growth Rates
------------------------------- ----------------
February 1, February 3, Yr. to Yr.
2013 (1) 2012
------------ ------------ --------------
GAAP gross margin $ 12,186 $ 13,811 (12)%
Non-GAAP adjustments:
Amortization of intangibles 455 305
Severance and facility actions and acquisition-related costs 67 49
------ ------
Non-GAAP gross margin $ 12,708 $ 14,165 (10)%
=== ====== === ======
GAAP operating expenses $ 9,174 $ 9,380 (2)%
Non-GAAP adjustments:
Amortization of intangibles (158) (86)
Severance and facility actions and acquisition-related costs (281) (264)
------ --- ------ ---
Non-GAAP operating expenses $ 8,735 $ 9,030 (3)%
=== ====== === ======
GAAP operating income $ 3,012 $ 4,431 (32)%
Non-GAAP adjustments:
Amortization of intangibles 613 391
Severance and facility actions and acquisition-related costs 348 313
------ ------
Non-GAAP operating income $ 3,973 $ 5,135 (23)%
=== ====== === ======
GAAP net income $ 2,372 $ 3,492 (32)%
Non-GAAP adjustments:
Amortization of intangibles 613 391
Severance and facility actions and acquisition-related costs 348 313
Aggregate adjustment for income taxes (316) (244)
------ --- ------ ---
Non-GAAP net income $ 3,017 $ 3,952 (24)%
=== ====== === ======
GAAP earnings per share - diluted $ 1.35 $ 1.88 (28)%
Non-GAAP adjustments per share - diluted 0.37 0.25
------ ------
Non-GAAP earnings per share - diluted $ 1.72 $ 2.13 (19)%
=== ====== === ======
Diluted WAS 1,755 1,853
Percentage of Total Net Revenue:
---------------------------------------------------------------
GAAP gross margin 21.4 % 22.3 %
Non-GAAP adjustment 0.9 % 0.5 %
------ --- ------ ---
Non-GAAP gross margin 22.3 % 22.8 %
====== === ====== ===
GAAP operating expenses 16.1 % 15.2 %
Non-GAAP adjustment (0.8)% (0.7)%
------ --- ------ ---
Non-GAAP operating expenses 15.3 % 14.5 %
====== === ====== ===
GAAP operating income 5.3 % 7.1 %
Non-GAAP adjustment 1.7 % 1.2 %
------ --- ------ ---
Non-GAAP operating income 7.0 % 8.3 %
====== === ====== ===
GAAP net income 4.2 % 5.6 %
Non-GAAP adjustment 1.1 % 0.8 %
------ --- ------ ---
Non-GAAP net income 5.3 % 6.4 %
====== === ====== ===
(1) Includes the results of Dell's Fiscal 2013 acquisitions from their respective acquisition dates.
Dell Inc.
Supplemental Segment Information
Fiscal 2011
(in millions, unaudited)
Three Months Ended Fiscal Year Ended
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------
April 30, 2010 July 30, 2010 October 29, 2010 January 28, 2011 January 28, 2011
------------------------------------------------- ------------------------------------------------- --------------------------------------------------------- ------------------------------------------------- -------------------------------------------------
As Recast Variance As Recast Variance As Recast Variance As Recast Variance As Recast Variance
Reported Reported Reported Reported Reported
---------- ---------- ------------------ ---------- ---------- ------------------ ------------------ ---------- ------------------ ---------- ---------- ------------------ ---------- ---------- ------------------
Net Revenue by Global Segment:
(1)
--------------------------------
Large Enterprise $ 4,246 $ 4,341 $ 95 $ 4,549 $ 4,618 $ 69 $ 4,326 $ 4,389 $ 63 $ 4,692 $ 4,763 $ 71 $ 17,813 $ 18,111 $ 298
Public 3,856 3,708 (148) 4,580 4,467 (113) 4,442 4,340 (102) 3,973 3,862 (111) 16,851 16,377 (474)
Small and Medium Business 3,524 3,096 (428) 3,535 3,083 (452) 3,665 3,179 (486) 3,749 3,250 (499) 14,473 12,608 (1,865)
Consumer 3,248 3,729 481 2,870 3,366 496 2,961 3,486 525 3,278 3,817 539 12,357 14,398 2,041
------ ------ -------------- ------ ------ -------------- -------------- ------ -------------- ------ ------ -------------- ------ ------ --------------
Consolidated net revenue $ 14,874 $ 14,874 $ -- $ 15,534 $ 15,534 $ -- $ 15,394 $ 15,394 $ -- $ 15,692 $ 15,692 $ -- $ 61,494 $ 61,494 $ --
== ====== == == ====== == == ============== == == ====== == == ====== == == ============== == == ============== == == ====== == == ============== == == ====== == == ====== == == ============== == == ====== == == ====== == == ============== ==
Percentage of Total Net Revenue:
(1)
--------------------------------
Large Enterprise 28 % 29 % 1 % 29 % 30 % 1 % 28 % 28 % -- 30 % 30 % -- 29 % 29 % --
Public 26 % 25 % -1 % 30 % 29 % -1 % 29 % 28 % -1 % 25 % 25 % -- 27 % 27 % --
Small and Medium Business 24 % 21 % -3 % 23 % 20 % -3 % 24 % 21 % -3 % 24 % 21 % -3 % 24 % 21 % -3 %
Consumer 22 % 25 % 3 % 18 % 21 % 3 % 19 % 23 % 4 % 21 % 24 % 3 % 20 % 23 % 3 %
Consolidated Operating Income:
(1)
--------------------------------
Large Enterprise $ 283 $ 293 $ 10 $ 288 $ 289 $ 1 $ 400 $ 398 $ (2) $ 502 $ 510 $ 8 $ 1,473 $ 1,490 $ 17
Public 298 280 (18) 369 363 (6) 451 450 (1) 366 353 (13) 1,484 1,446 (38)
Small and Medium Business 313 301 (12) 323 298 (25) 391 365 (26) 450 419 (31) 1,477 1,383 (94)
Consumer 17 37 20 (21) 9 30 -- 29 29 69 105 36 65 180 115
------ ------ -------------- ------ -- ------ -------------- -------------- ------ -------------- ------ ------ -------------- ------ ------ --------------
Segment operating income $ 911 $ 911 $ -- $ 959 $ 959 $ -- $ 1,242 $ 1,242 $ -- $ 1,387 $ 1,387 $ -- $ 4,499 $ 4,499 $ --
== ====== == ====== == ============== == ====== == ====== == ============== == ============== == ====== == ============== == ====== == ====== == ============== == ====== == ====== == ==============
(1) In the first quarter of Fiscal 2013, Dell made certain segment realignments in order to conform to the way Dell now internally manages segment performance. These realignments affected all of Dell's operating segments, but primarily consisted of the transfer of small office business customers from the Small and Medium Business segment to the Consumer Segment. Dell has recast prior period amounts to provide visibility and comparability. None of these changes impacts Dell's previously reported consolidated net revenue, gross margin, operating income, net income, or earnings per share.
Dell Inc.
Supplemental Segment Information
Fiscal 2012
(in millions, unaudited)
Three Months Ended Fiscal Year Ended
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------
April 29, 2011 July 29, 2011 October 28, 2011 February 3, 2012 February 3, 2012
------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- -------------------------------------------------
As Recast Variance As Recast Variance As Recast Variance As Recast Variance As Recast Variance
Reported Reported Reported Reported Reported
---------- ---------- ------------------ ---------- ---------- ------------------ ---------- ---------- ------------------ ---------- ---------- ------------------ ---------- ---------- ------------------
Net Revenue by Global Segment:
(1)
--------------------------------
Large Enterprise $ 4,477 $ 4,587 $ 110 $ 4,584 $ 4,677 $ 93 $ 4,487 $ 4,540 $ 53 $ 4,909 $ 4,982 $ 73 $ 18,457 $ 18,786 $ 329
Public 3,767 3,621 (146) 4,457 4,329 (128) 4,375 4,287 (88) 3,949 3,833 (116) 16,548 16,070 (478)
Small and Medium Business 3,768 3,355 (413) 3,709 3,306 (403) 3,712 3,326 (386) 3,977 3,560 (417) 15,166 13,547 (1,619)
Consumer 3,005 3,454 449 2,908 3,346 438 2,791 3,212 421 3,196 3,656 460 11,900 13,668 1,768
------ ------ -------------- ------ ------ -------------- ------ ------ -------------- ------ ------ -------------- ------ ------ --------------
Consolidated net revenue $ 15,017 $ 15,017 $ -- $ 15,658 $ 15,658 $ -- $ 15,365 $ 15,365 $ -- $ 16,031 $ 16,031 $ -- $ 62,071 $ 62,071 $ --
== ====== == ====== == ============== == ====== == ====== == ============== == ====== == ====== == ============== == ====== == ====== == ============== == ====== == ====== == ==============
Percentage of Total Net Revenue:
(1)
--------------------------------
Large Enterprise 30 % 31 % 1 % 29 % 30 % 1 % 29 % 29 % -- 30 % 31 % 1 % 30 % 30 % --
Public 25 % 24 % -1 % 28 % 28 % -- 29 % 28 % -1 % 25 % 24 % -1 % 27 % 26 % -1 %
Small and Medium Business 25 % 22 % -3 % 24 % 21 % -3 % 24 % 22 % -2 % 25 % 22 % -3 % 24 % 22 % -2 %
Consumer 20 % 23 % 3 % 19 % 21 % 2 % 18 % 21 % 3 % 20 % 23 % 3 % 19 % 22 % 3 %
Consolidated Operating Income:
(1)
--------------------------------
Large Enterprise $ 504 $ 516 $ 12 $ 448 $ 460 $ 12 $ 441 $ 446 $ 5 $ 461 $ 467 $ 6 $ 1,854 $ 1,889 $ 35
Public 370 352 (18) 484 466 (18) 463 454 (9) 327 312 (15) 1,644 1,584 (60)
Small and Medium Business 463 435 (28) 404 380 (24) 386 367 (19) 412 399 (13) 1,665 1,581 (84)
Consumer 136 170 34 73 103 30 76 99 23 39 61 22 324 433 109
------ ------ -------------- ------ ------ -------------- ------ ------ -------------- ------ ------ -------------- ------ ------ --------------
Segment operating income $ 1,473 $ 1,473 $ -- $ 1,409 $ 1,409 $ -- $ 1,366 $ 1,366 $ -- $ 1,239 $ 1,239 $ -- $ 5,487 $ 5,487 $ --
== ====== == ====== == ============== == ====== == ====== == ============== == ====== == ====== == ============== == ====== == ====== == ============== == ====== == ====== == ==============
(1) In the first quarter of Fiscal 2013, Dell made certain segment realignments in order to conform to the way Dell now internally manages segment performance. These realignments affected all of Dell's operating segments, but primarily consisted of the transfer of small office business customers from the Small and Medium Business segment to the Consumer Segment. Dell has recast prior period amounts to provide visibility and comparability. None of these changes impacts Dell's previously reported consolidated net revenue, gross margin, operating income, net income, or earnings per share.
http://cts.businesswire.com/ct/CT?id=bwnews&sty=20130219006965r1&sid=cmtx4&distro=nx
SOURCE: Dell Inc.
Source: Dell
Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/4jAD7Yp37K4/
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