Dell delays quarterly report with regulators

SAN FRANCISCO: Computer maker Dell Inc. said on Thursday it would delay filing its quarterly report with securities regulators because of investigations into accounting practices, pushing down its shares.

The U.S. Securities and Exchange Commission, the U.S. Attorney for the Southern District of New York, and the company's audit committee have raised questions about Dell's financial reporting.

Last month Dell delayed publishing third-quarter results amid the accounting probes. When it did report, nearly a week late, it said results were preliminary and it did not expect to file its quarterly report on time with the SEC.

Dell said in a filing with the SEC on Thursday that the agency has raised questions about reserves and other balance sheet items that may affect previously reported financial results.

The company also has not yet filed second-quarter earnings with the SEC.

Earlier this year, Dell recalled batteries made by Sony Corp. in the biggest-ever consumer electronics recall. It has had complaints of poor after-sales service and recently lost its status as the top PC maker to Hewlett-Packard Co.

This week Dell named a former EDS executive to lead its $5 billion-a-year computer services organization, the latest in new management hires. The company also said it would restructure its product groups into two segments -- business and consumer -- instead of along product lines the way it has long operated.

The company said in the filing that it had not made any determinations on restatements, and added that it was cooperating with investigators.

Shares of Dell fell 1.3 percent to $26.53 in extended trade. In regular trade, the stock rose 80 cents to close at $26.87.

(Additional reporting by Karey Wutkowski)