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Dell Profit Plunges 48% and Misses Estimates (DELL) - 11/19/2009 4:13:12 PM

11/19/2009-Dell (NASDAQ:DELL) reported Q3 EPS of $0.23 cents, ex-items, missing consensus estimates of $0.28. Revenues in the quarter fell 15% year-over-year to $12.9 billion, and came in short of consensus estimates of $13.2 billion. Michael Dell, chairman of the board and chief executive officer: "We are seeing improvement in overall underlying IT demand that is continuing into the fourth quarter. The same is true with momentum in Dell's business, specifically in our Large Enterprise and SMB segments. The launch of Windows 7 is being very well received by SMBs and consumers, and we'll see the benefits of that more fully in our fiscal Q4." The company offered this forward-looking statement, "For the fourth quarter, Dell expects seasonal demand improvement in its consumer business, while demand in Public is typically lower during the quarter. The company expects fouth quarter revenue to improve over the third quarter."

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