Note from Lionel: Due to a technical issue, I’ll be publishing Dell’s Q3FY13 results on Direct2Dell instead of the DellShares blog. A conference call with analysts and investors will start at 4pm CT. Chairman and CEO Michael Dell will join Senior VP and CFO Brian Gladden on the call. You can also tune into the webcast here. If you're on Twitter, stay tuned to @DellShares for updates.
Below is a post from Dell’s Vice President of Investor Relations, Robert L. Williams.
This quarter, we are pleased to welcome Brian Gladden, Senior VP & CFO, and Steve Felice, President & Chief Commercial Officer. Brian and Steve will provide us with their perspective on the third quarter and discuss the progress we’ve made in executing on our overall strategy.
Fiscal Year 2013 Q3 highlights include:
We strongly encourage you to review our press release and associated materials, including our GAAP to non-GAAP reconciliation; and listen to our earnings conference call which can be found on the Investor Relations web site.
We have attached a transcript for those of you unable to watch the video or just have a preference to read it.
As always, we encourage you to ask questions or leave comments here or on DellShares.
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 blog 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 blog that relate to future results and events (including statements about Dell’s future financial and operating performance, trends relating to macroeconomic challenges and the IT spending environment, effects of our acquisitions, our server business, our dividends and share repurchases, and consumer demand relating to Windows 8, as well as the financial guidance with respect to revenue and earnings per share) 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. In particular, Dell’s expectations with regard to sequential revenue and earnings per share for the full fiscal year ending Feb. 1, 2013 assume, among other matters, that there is no significant decline in economic conditions generally or demand growth specifically, that macroeconomic challenges do not materialize into more significant economic difficulties, no significant change in seasonality patterns, continued strength in server, storage and network products and continued geographic customer demand trends. Dell assumes no obligation to update its forward-looking statements.
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