Dell Technologies Reports Fiscal Year 2017 Fourth Quarter and Full Year Financial Results
News summary
- Fourth quarter revenue of
$20.1 billion , with full-year revenue of$61.6 billion - Non-GAAP fourth quarter revenue of
$20.6 billion , with non-GAAP annual revenue of$62.8 billion - Fourth quarter operating loss of
$1.7 billion , with non-GAAP operating income of$1.8 billion - Fiscal 2017 accomplishments include completion of industry's largest merger transaction, combined award-winning solutions portfolio, completed announced divestitures and reduced debt
Full story
For the fourth quarter, consolidated revenue from continuing operations was
For the full year, consolidated revenue from continuing operations was
Due to the
"I'm pleased with our overall fiscal 2017 performance, with growth in our client business and positive momentum from investments we're making in our infrastructure business," said
The company ended the year with a cash and investments balance of
Since closing the
Today the company also announced the board has approved an amendment to its existing Class V Group Repurchase Program for up to an additional
Fiscal year 2017 fourth quarter and full year results
Three Months Ended |
Fiscal Year Ended |
||||||||||
February 3, 2017 |
January 29, 2016 |
Change |
February 3, 2017 |
January 29, 2016 |
Change |
||||||
(in millions, except percentages, unaudited) |
|||||||||||
Net revenue |
$ 20,074 |
$ 12,679 |
58 % |
$ 61,642 |
$ 50,911 |
21 % |
|||||
Operating loss |
$ (1,668) |
$ (26) |
NM |
$ (3,252) |
$ (514) |
(533)% |
|||||
Net loss from continuing operations |
$ (1,414) |
$ (168) |
(742)% |
$ (3,737) |
$ (1,168) |
(220)% |
|||||
Non-GAAP net revenue |
$ 20,581 |
$ 12,768 |
61 % |
$ 62,822 |
$ 51,370 |
22 % |
|||||
Non-GAAP operating income |
$ 1,843 |
$ 655 |
181 % |
$ 5,113 |
$ 2,225 |
130 % |
|||||
Non-GAAP net income from continuing operations |
$ 1,091 |
$ 382 |
186 % |
$ 2,687 |
$ 1,053 |
155 % |
|||||
Adjusted EBITDA |
$ 2,184 |
$ 753 |
190 % |
$ 5,941 |
$ 2,633 |
126 % |
Information about
Operating segments summary
Client
Key calendar fourth quarter highlights include:
- PC shipments of 11 million, representing the largest volume of products shipped since the fourth quarter of 2011 1
- 8.2 percent year-over-year PC shipment increase, the best among the top seven PC vendors, with 16 consecutive quarters of year-over-year PC unit share growth and 150 basis points of unit share gained for the calendar year 1
No. 1 share position worldwide for displays, gaining unit share year-over-year for the 16th consecutive quarter 2
Infrastructure
Key calendar fourth quarter highlights:
- Regained the
No. 1 worldwide server unit share position driven by strength in the mainstream PowerEdge business 3 No. 1 market share position in all-flash arrays4, which exited 2016 at a more than$4 billion demand run rate- The industry's fastest growing hyperconverged infrastructure vendor during the calendar fourth quarter with more than 300 percent demand growth
Conference call information
As previously announced, the company will hold a conference call to discuss its fourth quarter and full-year performance today at
A slide presentation containing additional financial and operating information may be downloaded from
Dell Technologies Investor Meeting
Dell EMC World
Join us
About
Copyright © 2017 Dell Inc. or its subsidiaries. All Rights Reserved. Dell, Dell EMC, Dell Inc. and the Dell logo are trademarks of Dell Technologies in the United States and/or other jurisdictions. All other marks and names mentioned herein may be trademarks of their respective companies.
1 IDC Worldwide Quarterly Personal Computing Device (PCD) Tracker CY16Q4
2 IDC Worldwide Quarterly PC Monitor Tracker CY16Q4
3 IDC Worldwide Quarterly Server Tracker,
4 IDC Worldwide Quarterly Enterprise Storage Systems Tracker,
Non-GAAP Financial Measures
The press release presents information about the Company's non-GAAP net revenue, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income from continuing operations, EBITDA and adjusted EBITDA, which are non-GAAP financial measures provided as a supplement to the results provided in accordance with generally accepted accounting principles in
Special Note on Forward-Looking Statements:
Statements in this press release that relate to future results and events are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933 and are based on
This list of risks, uncertainties, and other factors is not complete.
Special Note on the Divestitures:
On
DELL TECHNOLOGIES INC. |
|||||||||||||||
Consolidated Statements of Income (Loss) and Related Financial Highlights |
|||||||||||||||
(in millions, except per share amounts and percentages; unaudited) |
|||||||||||||||
Three Months Ended |
Fiscal Year Ended |
||||||||||||||
February 3, 2017 |
January 29, 2016 |
Change |
February 3, 2017 |
January 29, 2016 |
Change |
||||||||||
Net revenue: |
|||||||||||||||
Products |
$ 15,196 |
$ 10,642 |
43 % |
$ 48,706 |
$ 42,742 |
14 % |
|||||||||
Services |
4,878 |
2,037 |
139 % |
12,936 |
8,169 |
58 % |
|||||||||
Total net revenue |
20,074 |
12,679 |
58 % |
61,642 |
50,911 |
21 % |
|||||||||
Cost of net revenue: |
|||||||||||||||
Products |
13,313 |
9,208 |
45 % |
42,169 |
37,563 |
12 % |
|||||||||
Services |
2,230 |
1,217 |
83 % |
6,514 |
4,961 |
31 % |
|||||||||
Total cost of net revenue |
15,543 |
10,425 |
49 % |
48,683 |
42,524 |
14 % |
|||||||||
Gross margin |
4,531 |
2,254 |
101 % |
12,959 |
8,387 |
55 % |
|||||||||
Operating expenses: |
|||||||||||||||
Selling, general, and administrative |
4,928 |
2,001 |
146 % |
13,575 |
7,850 |
73 % |
|||||||||
Research and development |
1,271 |
279 |
356 % |
2,636 |
1,051 |
151 % |
|||||||||
Total operating expenses |
6,199 |
2,280 |
172 % |
16,211 |
8,901 |
82 % |
|||||||||
Operating loss |
(1,668) |
(26) |
NM |
(3,252) |
(514) |
(533)% |
|||||||||
Interest and other, net |
(742) |
(172) |
(331)% |
(2,104) |
(772) |
(173)% |
|||||||||
Loss from continuing operations before income taxes |
(2,410) |
(198) |
NM |
(5,356) |
(1,286) |
(316)% |
|||||||||
Income tax benefit |
(996) |
(30) |
NM |
(1,619) |
(118) |
NM |
|||||||||
Net loss from continuing operations |
(1,414) |
(168) |
(742)% |
(3,737) |
(1,168) |
(220)% |
|||||||||
Income from discontinued operations, net of income taxes |
1,144 |
13 |
NM |
2,019 |
64 |
NM |
|||||||||
Net loss |
(270) |
(155) |
(74)% |
(1,718) |
(1,104) |
(56)% |
|||||||||
Less: Net loss attributable to non-controlling interests |
(34) |
— |
NA |
(46) |
— |
NA |
|||||||||
Net loss attributable to Dell Technologies Inc. |
$ (236) |
$ (155) |
(52)% |
$ (1,672) |
$ (1,104) |
(51)% |
|||||||||
Earnings (loss) per share attributable to Dell Technologies Inc. - basic: |
|||||||||||||||
Continuing operations - Class V Common Stock - basic |
$ |
0.64 |
$ |
— |
$ |
1.44 |
$ |
— |
|||||||
Continuing operations - DHI Group - basic |
$ |
(2.68) |
$ |
(0.41) |
$ |
(8.52) |
$ |
(2.88) |
|||||||
Discontinued operations - DHI Group - basic |
$ |
2.02 |
$ |
0.03 |
$ |
4.30 |
$ |
0.16 |
|||||||
Earnings (loss) per share attributable to Dell Technologies Inc. - diluted: |
|||||||||||||||
Continuing operations - Class V Common Stock - diluted |
$ |
0.64 |
$ |
— |
$ |
1.43 |
$ |
— |
|||||||
Continuing operations - DHI Group - diluted |
$ |
(2.68) |
$ |
(0.41) |
$ |
(8.52) |
$ |
(2.88) |
|||||||
Discontinued operations - DHI Group - diluted |
$ |
2.02 |
$ |
0.03 |
$ |
4.30 |
$ |
0.16 |
|||||||
Weighted-average shares outstanding: |
|||||||||||||||
Basic - Class V Common Stock |
215 |
— |
217 |
— |
|||||||||||
Diluted - Class V Common Stock |
215 |
— |
217 |
— |
|||||||||||
Basic - DHI Group |
566 |
405 |
470 |
405 |
|||||||||||
Diluted - DHI Group |
566 |
405 |
470 |
405 |
|||||||||||
Percentage of Total Net Revenue: |
|||||||||||||||
Gross margin |
23 % |
18 % |
21 % |
16 % |
|||||||||||
Selling, general, and administrative |
25 % |
16 % |
22 % |
15 % |
|||||||||||
Research and development |
6 % |
2 % |
4 % |
2 % |
|||||||||||
Operating expenses |
31 % |
18 % |
26 % |
17 % |
|||||||||||
Operating loss |
(8)% |
(0)% |
(5)% |
(1)% |
|||||||||||
Loss from continuing operations before income taxes |
(12)% |
(2)% |
(9)% |
(3)% |
|||||||||||
Net loss from continuing operations |
(7)% |
(1)% |
(6)% |
(2)% |
|||||||||||
Income tax rate |
41 % |
15 % |
30 % |
9 % |
DELL TECHNOLOGIES INC. |
|||
Consolidated Statements of Financial Position |
|||
(in millions; unaudited) |
|||
February 3, 2017 |
January 29, 2016 |
||
ASSETS |
|||
Current assets: |
|||
Cash and cash equivalents |
$ 9,474 |
$ 6,322 |
|
Short-term investments |
1,975 |
— |
|
Accounts receivable, net |
9,420 |
4,887 |
|
Short-term financing receivables, net |
3,222 |
2,915 |
|
Inventories, net |
2,538 |
1,619 |
|
Other current assets |
4,144 |
3,497 |
|
Current assets held for sale |
— |
4,333 |
|
Total current assets |
30,773 |
23,573 |
|
Property, plant, and equipment, net |
5,653 |
1,649 |
|
Long-term investments |
3,802 |
114 |
|
Long-term financing receivables, net |
2,651 |
2,177 |
|
Goodwill |
38,910 |
8,406 |
|
Intangible assets, net |
35,053 |
8,577 |
|
Other non-current assets |
1,364 |
626 |
|
Total assets |
$ 118,206 |
$ 45,122 |
|
LIABILITIES, REDEEMABLE SHARES, AND STOCKHOLDERS' EQUITY |
|||
Current liabilities: |
|||
Short-term debt |
$ 6,329 |
$ 2,981 |
|
Accounts payable |
14,422 |
12,881 |
|
Accrued and other |
7,119 |
4,217 |
|
Short-term deferred revenue |
10,265 |
3,632 |
|
Current liabilities held for sale |
— |
1,599 |
|
Total current liabilities |
38,135 |
25,310 |
|
Long-term debt |
43,061 |
10,650 |
|
Long-term deferred revenue |
8,431 |
4,089 |
|
Other non-current liabilities |
9,339 |
3,501 |
|
Total liabilities |
98,966 |
43,550 |
|
Redeemable shares |
231 |
106 |
|
Stockholders' equity: |
|||
Total Dell Technologies Inc. stockholders' equity |
13,243 |
1,466 |
|
Non-controlling interests |
5,766 |
— |
|
Total stockholders' equity |
19,009 |
1,466 |
|
Total liabilities, redeemable shares, and stockholders' equity |
$ 118,206 |
$ 45,122 |
|
DELL TECHNOLOGIES INC. |
|||||||
Consolidated Statements of Cash Flows |
|||||||
(in millions; unaudited) |
|||||||
Three Months Ended |
Fiscal Year Ended |
||||||
February 3, 2017 |
January 29, 2016 |
February 3, 2017 |
January 29, 2016 |
||||
Cash flows from operating activities: |
|||||||
Net loss |
$ (270) |
$ (155) |
$ (1,718) |
$ (1,104) |
|||
Adjustments to reconcile net loss to net cash provided by operating activities |
946 |
1,126 |
3,940 |
3,266 |
|||
Change in cash from operating activities |
676 |
971 |
2,222 |
2,162 |
|||
Cash flows from investing activities: |
|||||||
Investments: |
|||||||
Purchases |
(267) |
(1) |
(778) |
(27) |
|||
Maturities and sales |
612 |
6 |
1,173 |
7 |
|||
Capital expenditures |
(282) |
(142) |
(699) |
(482) |
|||
Proceeds from sale of facilities, land, and other assets |
— |
— |
24 |
88 |
|||
Capitalized software development costs |
(122) |
— |
(207) |
— |
|||
Collections on purchased financing receivables |
4 |
14 |
35 |
85 |
|||
Acquisition of businesses, net of cash acquired |
(15) |
— |
(37,629) |
— |
|||
Divestitures of businesses, net of cash transferred |
6,873 |
— |
6,873 |
8 |
|||
Other |
— |
— |
(48) |
— |
|||
Change in cash from investing activities |
6,803 |
(123) |
(31,256) |
(321) |
|||
Cash flows from financing activities: |
|||||||
Payment of dissenting shares obligation |
— |
— |
(446) |
— |
|||
Proceeds from the issuance of DHI Group Common Stock |
18 |
— |
4,422 |
— |
|||
Proceeds from the issuance of common stock of subsidiaries |
63 |
— |
164 |
— |
|||
Repurchases of DHI Group Common Stock |
— |
— |
(10) |
— |
|||
Repurchases of Class V Common Stock |
(569) |
— |
(701) |
— |
|||
Repurchases of VMware Class A Common Stock |
— |
— |
(611) |
— |
|||
Issuance of common stock under employee plans |
— |
— |
— |
2 |
|||
Payments for debt issuance costs |
(4) |
— |
(853) |
(10) |
|||
Proceeds from debt |
907 |
567 |
46,893 |
5,460 |
|||
Repayments of debt |
(7,322) |
(742) |
(16,960) |
(5,950) |
|||
Other |
5 |
— |
10 |
2 |
|||
Change in cash from financing activities |
(6,902) |
(175) |
31,908 |
(496) |
|||
Effect of exchange rate changes on cash and cash equivalents |
(7) |
(79) |
24 |
(167) |
|||
Change in cash and cash equivalents |
570 |
594 |
2,898 |
1,178 |
|||
Cash and cash equivalents at beginning of the period, including amounts held for sale |
8,904 |
5,982 |
6,576 |
5,398 |
|||
Cash and cash equivalents at end of the period |
$ 9,474 |
$ 6,576 |
$ 9,474 |
$ 6,576 |
|||
Less: Cash included in current assets held for sale |
— |
254 |
— |
254 |
|||
Cash and cash equivalents from continuing operations |
$ 9,474 |
$ 6,322 |
$ 9,474 |
$ 6,322 |
|||
DELL TECHNOLOGIES INC. |
|||||||||||
Segment Information |
|||||||||||
(in millions, except percentages; unaudited) |
|||||||||||
Three Months Ended |
Fiscal Year Ended |
||||||||||
February 3, 2017 |
January 29, 2016 |
Change |
February 3, 2017 |
January 29, 2016 |
Change |
||||||
Client Solutions Group (CSG): |
|||||||||||
Net Revenue: |
|||||||||||
Commercial |
$ 6,663 |
$ 5,969 |
12 % |
$ 26,006 |
$ 25,747 |
1 % |
|||||
Consumer |
3,113 |
2,868 |
9 % |
10,748 |
10,130 |
6 % |
|||||
Total CSG net revenue |
$ 9,776 |
$ 8,837 |
11 % |
$ 36,754 |
$ 35,877 |
2 % |
|||||
Operating Income: |
|||||||||||
CSG operating income |
$ 342 |
$ 484 |
(29)% |
$ 1,845 |
$ 1,410 |
31 % |
|||||
% of CSG net revenue |
3 % |
5 % |
5 % |
4 % |
|||||||
% of total segment operating income |
18 % |
64 % |
34 % |
57 % |
|||||||
Infrastructure Solutions Group (ISG): |
|||||||||||
Net Revenue: |
|||||||||||
Servers and networking |
$ 3,612 |
$ 3,234 |
12 % |
$ 12,834 |
$ 12,761 |
1 % |
|||||
Storage |
4,783 |
562 |
751 % |
8,942 |
2,217 |
303 % |
|||||
Total ISG net revenue |
$ 8,395 |
$ 3,796 |
121 % |
$ 21,776 |
$ 14,978 |
45 % |
|||||
Operating Income: |
|||||||||||
ISG operating income |
$ 1,004 |
$ 276 |
264 % |
$ 2,393 |
$ 1,052 |
127 % |
|||||
% of ISG net revenue |
12 % |
7 % |
11 % |
7 % |
|||||||
% of total segment operating income |
53 % |
36 % |
45 % |
43 % |
|||||||
VMware: |
|||||||||||
Net Revenue: |
|||||||||||
Total VMware net revenue |
$ 1,936 |
$ — |
NA |
$ 3,225 |
$ — |
NA |
|||||
Operating Income: |
|||||||||||
VMware operating income |
$ 565 |
$ — |
NA |
$ 1,113 |
$ — |
NA |
|||||
% of VMware net revenue |
29 % |
NA |
35 % |
NA |
|||||||
% of total segment operating income |
30 % |
NA |
21 % |
NA |
|||||||
Reconciliation to consolidated net revenue: |
|||||||||||
Reportable segment net revenue |
$ 20,107 |
$ 12,633 |
$ 61,755 |
$ 50,855 |
|||||||
Other businesses (a) |
480 |
107 |
1,026 |
382 |
|||||||
Unallocated transactions (b) |
(6) |
28 |
41 |
133 |
|||||||
Impact of purchase accounting (c) |
(507) |
(89) |
(1,180) |
(459) |
|||||||
Total net revenue |
$ 20,074 |
$ 12,679 |
$ 61,642 |
$ 50,911 |
|||||||
Reconciliation to consolidated operating income (loss): |
|||||||||||
Reportable segment operating income |
$ 1,911 |
$ 760 |
$ 5,351 |
$ 2,462 |
|||||||
Other businesses (a) |
(3) |
(16) |
(39) |
(78) |
|||||||
Unallocated transactions (b) |
(65) |
(89) |
(199) |
(159) |
|||||||
Impact of purchase accounting (c) |
(1,240) |
(129) |
(2,294) |
(604) |
|||||||
Amortization of intangibles |
(1,535) |
(491) |
(3,681) |
(1,969) |
|||||||
Transaction-related expenses (d) |
(159) |
(42) |
(1,488) |
(109) |
|||||||
Other corporate expenses(e) |
(577) |
(19) |
(902) |
(57) |
|||||||
Total operating loss |
$ (1,668) |
$ (26) |
$ (3,252) |
$ (514) |
|||||||
_________________ |
|||||||||||
(a) Other businesses consist of RSA Information Security, SecureWorks, Pivotal, and Boomi offerings, and do not constitute a reportable segment, either individually or collectively, as the results of the businesses are not material to the Company's overall results and the businesses do not meet the criteria for reportable segments. |
|||||||||||
(b) Unallocated transactions includes long-term incentives, certain short-term incentive compensation expenses, and other corporate items that are not allocated to Dell Technologies' reportable segments. |
|||||||||||
(c) Impact of purchase accounting includes non-cash purchase accounting adjustments that are primarily related to the EMC merger transaction, as well as the going-private transaction. |
|||||||||||
(d) Transaction-related expenses includes acquisition and integration-related costs. |
|||||||||||
(e) Other corporate expenses includes severance and facility action costs as well as stock-based compensation expense. |
|||||||||||
SUPPLEMENTAL SELECTED NON-GAAP FINANCIAL MEASURES |
|||||||||||||||||||
These tables present information about the Company's non-GAAP net revenue, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income from continuing operations, EBITDA, and adjusted EBITDA, which are non-GAAP financial measures provided as a supplement to the results provided in accordance with generally accepted accounting principles in the United States of America ("GAAP"). A detailed discussion of Dell Technologies' reasons for including these non-GAAP financial measures, the limitations associated with these measures, the items excluded from these measures, and our reason for excluding those items are presented in "Management's Discussion and Analysis of Financial Condition and Results of Operations - Non-GAAP Financial Measures" in our periodic reports filed with the SEC. Dell Technologies encourages investors to review the non-GAAP discussion in conjunction with the presentation of non-GAAP financial measures. |
DELL TECHNOLOGIES INC. |
|||||||||||
Selected Non-GAAP Financial Measures |
|||||||||||
(in millions, except percentages; unaudited) |
|||||||||||
Three Months Ended |
Fiscal Year Ended |
||||||||||
February 3, 2017 |
January 29, 2016 |
Change |
February 3, 2017 |
January 29, 2016 |
Change |
||||||
Non-GAAP net revenue |
$ 20,581 |
$ 12,768 |
61 % |
$ 62,822 |
$ 51,370 |
22 % |
|||||
Non-GAAP gross margin |
$ 6,595 |
$ 2,458 |
168 % |
$ 16,819 |
$ 9,307 |
81 % |
|||||
% of non-GAAP net revenue |
32 % |
19 % |
27 % |
18 % |
|||||||
Non-GAAP operating expenses |
$ 4,752 |
$ 1,803 |
164 % |
$ 11,706 |
$ 7,082 |
65 % |
|||||
% of non-GAAP net revenue |
23 % |
14 % |
19 % |
14 % |
|||||||
Non-GAAP operating income |
$ 1,843 |
$ 655 |
181 % |
$ 5,113 |
$ 2,225 |
130 % |
|||||
% of non-GAAP net revenue |
9 % |
5 % |
8 % |
4 % |
|||||||
Non-GAAP net income from continuing operations |
$ 1,091 |
$ 382 |
186 % |
$ 2,687 |
$ 1,053 |
155 % |
|||||
% of non-GAAP net revenue |
5 % |
3 % |
4 % |
2 % |
|||||||
Adjusted EBITDA |
$ 2,184 |
$ 753 |
190 % |
$ 5,941 |
$ 2,633 |
126 % |
|||||
% of non-GAAP net revenue |
11 % |
6 % |
9 % |
5 % |
DELL TECHNOLOGIES INC. |
|||||||||||
Reconciliation of Selected Non-GAAP Financial Measures |
|||||||||||
(in millions, except percentages; unaudited) |
|||||||||||
Three Months Ended |
Fiscal Year Ended |
||||||||||
February 3, 2017 |
January 29, 2016 |
Change |
February 3, 2017 |
January 29, 2016 |
Change |
||||||
Net revenue |
$ 20,074 |
$ 12,679 |
58 % |
$ 61,642 |
$ 50,911 |
21 % |
|||||
Non-GAAP adjustments: |
|||||||||||
Impact of purchase accounting |
507 |
89 |
1,180 |
459 |
|||||||
Non-GAAP net revenue |
$ 20,581 |
$ 12,768 |
61 % |
$ 62,822 |
$ 51,370 |
22 % |
|||||
Gross margin |
$ 4,531 |
$ 2,254 |
101 % |
$ 12,959 |
$ 8,387 |
55 % |
|||||
Non-GAAP adjustments: |
|||||||||||
Impact of purchase accounting |
1,110 |
104 |
2,007 |
512 |
|||||||
Amortization of intangibles |
847 |
97 |
1,653 |
392 |
|||||||
Transaction-related expenses |
18 |
— |
43 |
6 |
|||||||
Other corporate expenses |
89 |
3 |
157 |
10 |
|||||||
Non-GAAP gross margin |
$ 6,595 |
$ 2,458 |
168 % |
$ 16,819 |
$ 9,307 |
81 % |
|||||
Operating expenses |
$ 6,199 |
$ 2,280 |
172 % |
$ 16,211 |
$ 8,901 |
82 % |
|||||
Non-GAAP adjustments: |
|||||||||||
Impact of purchase accounting |
(130) |
(25) |
(287) |
(92) |
|||||||
Amortization of intangibles |
(688) |
(394) |
(2,028) |
(1,577) |
|||||||
Transaction-related expenses |
(141) |
(42) |
(1,445) |
(103) |
|||||||
Other corporate expenses |
(488) |
(16) |
(745) |
(47) |
|||||||
Non-GAAP operating expenses |
$ 4,752 |
$ 1,803 |
164 % |
$ 11,706 |
$ 7,082 |
65 % |
|||||
Operating loss |
$ (1,668) |
$ (26) |
NM |
$ (3,252) |
$ (514) |
(533)% |
|||||
Non-GAAP adjustments: |
|||||||||||
Impact of purchase accounting |
1,240 |
129 |
2,294 |
604 |
|||||||
Amortization of intangibles |
1,535 |
491 |
3,681 |
1,969 |
|||||||
Transaction-related expenses |
159 |
42 |
1,488 |
109 |
|||||||
Other corporate expenses |
577 |
19 |
902 |
57 |
|||||||
Non-GAAP operating income |
$ 1,843 |
$ 655 |
181 % |
$ 5,113 |
$ 2,225 |
130 % |
|||||
Net loss from continuing operations |
$ (1,414) |
$ (168) |
(742)% |
$ (3,737) |
$ (1,168) |
(220)% |
|||||
Non-GAAP adjustments: |
|||||||||||
Impact of purchase accounting |
1,240 |
129 |
2,294 |
604 |
|||||||
Amortization of intangibles |
1,535 |
491 |
3,681 |
1,969 |
|||||||
Transaction-related expenses |
159 |
42 |
1,485 |
83 |
|||||||
Other corporate expenses |
577 |
19 |
902 |
77 |
|||||||
Aggregate adjustment for income taxes |
(1,006) |
(131) |
(1,938) |
(512) |
|||||||
Non-GAAP net income from continuing operations |
$ 1,091 |
$ 382 |
186 % |
$ 2,687 |
$ 1,053 |
155 % |
|||||
Net loss from continuing operations |
$ (1,414) |
$ (168) |
(742)% |
$ (3,737) |
$ (1,168) |
(220)% |
|||||
Adjustments: |
|||||||||||
Interest and other, net |
742 |
172 |
2,104 |
772 |
|||||||
Income tax benefit |
(996) |
(30) |
(1,619) |
(118) |
|||||||
Depreciation and amortization |
2,041 |
623 |
4,840 |
2,494 |
|||||||
EBITDA |
$ 373 |
$ 597 |
(38)% |
$ 1,588 |
$ 1,980 |
(20)% |
|||||
EBITDA |
$ 373 |
$ 597 |
(38)% |
$ 1,588 |
$ 1,980 |
(20)% |
|||||
Adjustments: |
|||||||||||
Stock-based compensation expense |
215 |
17 |
392 |
63 |
|||||||
Impact of purchase accounting |
1,075 |
95 |
1,926 |
487 |
|||||||
Transaction-related expenses |
159 |
42 |
1,525 |
83 |
|||||||
Other corporate expenses |
362 |
2 |
510 |
20 |
|||||||
Adjusted EBITDA |
$ 2,184 |
$ 753 |
190 % |
$ 5,941 |
$ 2,633 |
126 % |
|||||
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/dell-technologies-reports-fiscal-year-2017-fourth-quarter-and-full-year-financial-results-300431802.html
SOURCE
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