“Amid stiffening competition, computer maker Dell Inc. said Monday its fiscal first-quarter results will miss earnings targets, blaming the shortfall on ‘pricing decisions.’ The news sent Dell shares falling nearly 6 percent to a 52-week low,” May Wong reports for The Associated Press. “The Round Rock, Texas-based company said it expects to earn 33 cents per share on revenue of about $14.2 billion, compared with analysts’ average estimate of 38 cents per share on revenue of $14.52 billion.”
“During the quarter, Dell aggressively discounted some of its products as it lost ground to rivals. In a statement, Dell CEO Kevin Rollins said the company had been ‘making investments in our support infrastructure and product quality’ and slashing prices. Company officials declined to comment further. Dell will report first-quarter earnings on May 18,” Wong reports. “Stamford, Conn.-based market researcher Gartner Inc. said Dell saw its share of industry computer shipments decline to 16.5 percent in the first quarter of 2006 from 16.9 percent a year ago.”
Full article here.
[Thanks to MacDailyNews Reader “LinuxGuy” for the heads up.]
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