Dell in compliance with Nasdaq listing requirements
After facing delisting on Nasdaq multiple times for failing to file earnings reports with the U.S. Securities and Exchange Commission on time, Dell announced this week it is fully compliant with the stock exchange's listing requirements.
The company received a notice from The Nasdaq Stock Market that it regained compliance after its filing of restated earnings reports from fiscal 2003 to the first quarter of 2007, the company said. Nasdaq earlier set a deadline of November 12 for Dell to file the earnings reports.
Dell restated its earnings after completing an internal accounting investigation. The company cut its cumulative net income by US$92 million from a previously reported net income of US$12 billion and reduced revenue by US$359 million from the previously reported US$196.2 billion for the restatement period.
The SEC is still investigating Dell for accounting errors for certain periods prior to fiscal year 2006.
Dell is trying to restructure amid the accounting scandal, personnel changes and slow growth in the U.S. PC market. In January, Michael Dell returned as CEO in an effort to revive the company after Kevin Rollins resigned. In May, Dell announced it would cut 10 percent of its workforce. It is also battling Hewlett-Packard, which is closing in on Dell's position as the leading U.S. PC vendor, according to surveys.
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Dell revenue rises despite US consumer business fall 03 December, 2007 07:29:29
Manages to record growth in global notebook salesDell experienced a drop in its US consumer business, but managed to record revenue growth for the third quarter boosted by an increase in global notebook sales. - +
Dell reinventing itself, but support issues linger 20 December, 2007 07:30:53
Its efforts have been positive, but some users still have doubtsDell's efforts to reinvent itself this year through a dramatic break from its direct-sales model, expanded services and new enterprise offerings have shown positive early results, but some users have lingering concerns about supply chain management and support -- long-time issues for the company. - +
The 2007 security hall of shame 27 December, 2007 07:47:46
Bad breaches, ghastly gaffes and five people we'd like to forgetHow bad was 2007 for breaches, vulnerabilities and similar mayhem? On the bright side, it was better than 2008 is forecast to be. With more of every sort of meltdown predicted -- more criminalization of the hacker community, more Web-application attacks, more phishing, more spamming, more zero-day attacks and more virtualization-related threats -- we're happy to tell you that you are likely to look back on 2007 as the peaceful old days. - +
The Microsoft-Yahoo deal: How does it compare? 05 February, 2008 08:42:34
See how the deal compares to memorable high-tech acquisitions by Microsoft's main competitorsEven by the bloated standards of high-tech mergers and acquisitions, Microsoft's proposed purchase of Yahoo appears to be the largest ever among technology firms. It is certainly Microsoft's largest. The company mostly buys smaller firms for less than a billion dollars to fill in gaps in its product lineup. But that may be changing. Last year, for instance, Microsoft bought Seattle online advertising firm aQuantive for US$6 billion, its largest ever until the long-rumored Yahoo deal was unveiled on Friday.
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