Dell sales drop ahead of buyout

  • PC maker Dell posted a drop in quarterly profits and revenues on Tuesday, in what could be its last set of results as a public company.

    The world's third largest computer maker said net profit in the fourth quarter dropped 31 percent to $530 million compared to the same period last year.

    Revenue was down 11 percent to $14.3 billion on the back of a decrease in its, consumer business.

    For the full year ending 1 February 2013, net profit fell 32 percent to $2.37 billion while revenue decreased by 8 percent to $56.9 billion.

    Dell was unable to provide an outlook for the full fiscal year due to a pending merger to make the company private.

    Founder Michael Dell has offered to buy the business for $24.4 billion.

    However, he has faced opposition as he attempts to turn it back into a private firm.

    Dell's largest independent shareholder, Southeastern Asset Management, said the offer "grossly undervalues the company".

    The move will also take Dell off the Nasdaq stock exchange after 25 years.

    Dell is headquartered in Texas. Explore some quick facts through Texas Fast Facts