Dell to Delay Filing Q2 Financials

Dell, the world’s largest producer of PCs, on Monday announced that it will delay filing its second quarter financial results, as well as put a temporary halt to its share buyback initiative, due to previously announced accounting investigations, the Associated Press reports via WashingtonPost.com.

Dell also said documents related to its financial filings reaching back to 2002 were subpoenaed by the U.S. Attorney for the Southern District of New York, according to the AP.

The Round Rock, Texas-based firm will delay its filings for the second quarter due to “questions raised” in relation to an ongoing SEC probe, as well as its own internal investigation, though it did say it plans to file “as soon as possible,” the AP reports.

Both probes suggest that Dell may have filed inaccurate reports in the past, which could have affected final financial results, the firm said, according to the AP.

Dell Chairman Michael Dell said in a statement, “We are fully cooperating with the investigations and working to resolve any and all issues raised in connection with those investigations as quickly as possible, and we will take any appropriate remedial or corrective actions to address any problems,” the AP reports.

Dell has not yet released any estimates as to how potential accounting errors could impact its business, according to the AP.

A Dell investors’ meeting slated for this week has been postponed, the AP reports.

Related Links:

• Dell Acknowledges SEC Probe, Profit Falls

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