As expected, Dell today reported its first quarter 2014 results. The company reported the revenue of $14.1 billion, thanks to the company’s increase in revenue from Enterprise Solutions, Services and Software 12 percent year over year to $5.5 billion, or 8 percent growth. The company further reported GAAP earnings of $0.07 per share and non-GAAP earnings of $0.21 per share.
“We made progress in building our enterprise solutions capabilities in the first quarter and are confident in our strategy to be the leading provider of end-to-end scalable solutions,” said Brian Gladden, Dell chief financial officer. “In addition, we have taken actions to improve our competitive position in key areas of the business, especially in end-user computing, and it has affected profitability. We’ll also continue to make important investments to support our strategy and drive long-term profitability.”
Highlights:
- Revenue in the quarter was $14.1 billion, a 2 percent decrease from the previous year.
- GAAP operating income for the quarter was $226 million, or 1.6 percent of revenue. Non-GAAP operating income was $590 million, or 4.2 percent of revenue.
- GAAP earnings per share in the quarter was 7 cents, down 81 percent from the previous year; non-GAAP EPS was 21 cents, down 51 percent.
- Cash used in operations in the quarter was $39 million. On a trailing, 12-month basis, Dell has generated $3.4 billion in cash flow. Dell ended the quarter with $13.2 billion in cash and investments.
