Dell earnings fall 31 per cent in the fourth quarter as PC market stays weak, buyout looms

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ROUND ROCK, Texas - Dell Inc.'s net income fell 31 per cent in the latest quarter as the company continued to be hurt by a shrinking PC market.

Dell's founder and CEO Michael Dell and a group of investors are buying the company for $24.4 billion with a plan to turn it around.

Dell posted net income of $530 million, or 30 cents per share, for its fiscal fourth quarter, which ended Feb. 1. That was down from $764 million, or 43 cents per share, in the quarter a year ago.

Excluding acquisition- and severance-related charges, earnings were 40 cents per share, beating by 1 cent the average forecast of analysts polled by FactSet.

Revenue was $14.3 billion, down 11 per cent from a year ago. It beat analyst expectations at $14.1 billion.

Organizations: Dell Inc., FactSet

Geographic location: ROUND ROCK, Texas

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