Dell sales drop ahead of buyout
February 20 , 2013
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.
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