Dell clocks a net of $483 million in Q3

BANGALORE: Dell Computer Corp clocked a net profit of $483 million in the third quarter ended October 1999. Dell said net income rose 21 per cent to $483 million, or 18 cents per share, compared with $384 million or 14 cents per share and revenue rose 41 per cent to $6.78 billion.

Third quarter net income excluded a previously disclosed charge of $194 million, or 7 cents per share for ConvergeNet Technologies Inc, Dell’s first ever acquisition. Including the charge, third quarter net was $289 million, or 11 cents a share.

Growth was driven by a 72 per cent increase in sales of its powerful computers and storage systems to big businesses. Shares of Dell gained more than a point to $44.88 in after-hours trading, up from a closing price of $43.44 on the Nasdaq stock market. Shares rose $2 in anticipation of the report, which was released after the regular trading session ended.