Dell to Report Q3 Results Despite Accounting Woes

Dell plans to report its third-quarter financial results later today once the U.S. stock market closes, after delaying the announcement by nearly a week due to accounting troubles.

The PC maker had previously planned to file its earnings on Nov. 16, but said it was sidetracked by ongoing investigationsfrom its own internal audit committee and by the U.S. Securities and Exchange Commission (SEC) into certain accounting and financial reporting matters.

The accounting issues come at an awkward time for Dell. The company has reported a string of disappointing financial quarters, and recently lost its title as the world’s largest PC vendor to Hewlett-Packard. Dell also faces some pressure to report solid earnings on Tuesday, since HP last week reported its net profit quadrupled compared to a year earlier.

Dell plans to release a third-quarter earnings statement on Tuesday, but does not plan to host a conference call, it said in a statement. Future earnings announcements will be pushed back by a week compared to Dell’s previous schedule.

Last week, Dell announced that an SEC inquiry into its accounting had become a formal investigation. The PC company vowed to cooperate with the investigation and regain compliance with all SEC filing requirements as soon as possible.

-Dan Nystedt, IDG News Service (Taipei Bureau)

Related Links:

• Dell Earnings Delayed by SEC Probe

• HP Overtakes Dell in Global PC Space

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