Dell: Fiscal 1Q14 Financial Results

For storage only

(without services)

(in $ million)	1Q13	1Q14
Revenues	473	424
*Growth*		-10%

Dell, Inc. reports 1FQ14 financial results ended May 3, 2013.

Former quarter (4FQ13) Dell storage was plunging with $434 million revenue, down 13% for quarter and year. Last three-month period is not much better with sales of $424 million, down 3% sequentially and 10% Y/Y.

Dell is really disappointed by these results since many quarters after the costly acquisitions of Compellent and EqualLogic. It was a better time when it was reselling EMC storage products.

And we don’t see how the company will come back to growth. It needs new executives for a new business plan in this field.

CFO Brian Gladden commented:" The storage business I think a little bit different discussion, we feel like that business is growing about in line with the market, it’s shrinking at the market – the market is shrinking and we’re seeing that from the data that we see in the market right now. I would say that’s not what we’d like to see obviously and that’s not acceptable to us."