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Dell records third-quarter profit increase of 144%

Dell has posted an increase...

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Dell has posted an increase in profits of 144% for the third quarter of fiscal year 2011 compared to company figures released a year ago.

For the period ending 29 October, Dell said sales grew from $15.4bn (£9.6bn) to $12.9bn (£8bn), an increase of 19%, while profits were boosted 144% from $337m (£210m) in fiscal year 2010 to $822m (£549m) for the same quarter in fiscal 2011.

Dell CEO Michael Dell said the strong results, "validates that our strategy to offer choice and efficiency at every level of the IT enterprise computing stack is taking hold, and we are more focused than ever on being a true partner - not merely a provider - to our customers. Dell is growing in the right areas, and I'm very excited about our momentum".

Brian Gladden, CFO at Dell, added, "Our teams delivered outstanding results in the quarter. With solid demand in our commercial segments, we executed well and that led to record profitability for the company and especially in our important enterprise solutions and services business."

Sales of commercial enterprise products and services saw an increase of 33%.

Despite a slight decline in shipments during Q3, HP retained the top worldwide position for PC sales with 18% marketshare. Acer followed with 13% and Dell with 12%.

Lenovo had the strongest growth rate, displacing Toshiba in the top five in Europe, Middle East and Africa, with marketshare growing 33%.

Dell recently lost out in a bidding war with HP for specialist storage supplier 3Par, after HP closed the deal at $1.6bn. The company has also announced the departure of mobile chief, Ron Garriques, and the closure of the mobile business division, according to the Wall Street Journal.

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