Personal computer maker Dell has reported a 63 per cent drop in net income to $290 million for the first quarter of this fiscal mainly on account of declining sales of computers.
The company had a net income of $784 million in the first quarter of FY'09, Dell said in a statement.
Revenue declined by 23 per cent to $12.34 billion in the latest quarter from $16.07 billion in the year ago period.
"Fiscal first-quarter results are consistent with how the company is managing its business in the present IT spending environment.Along with generating strong cash flow, we maintained solid operating margins and made further progress toward reducing annualised costs by $4 billion by the end of fiscal 2011," Dell chief financial officer Brian Gladden said.
All the global strategic business units of Dell reported a decline of 16 to 30 per cent.
Dell's large enterprise revenue totaled $3.4 billion, a 31 per cent decrease from a year ago, as many large IT customers defered spending, while, the public revenue of the company was at $3.2 billion, an 11 per cent decrease from a year ago.
