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Dell Profits Decline

2/27/2009 12:36:00 PM Eastern

Round Rock, Texas — Dell reported a massive drop in net income for its fiscal year and fourth quarter, but still managed to stay in the black.

The company posted a $469 million drop in net income for 2009, with $328 million of the falloff coming in its fourth quarter, ended Jan. 30.

Dell’s revenue was flat for the year, at $61.1 billion, and net income was down 16 percent to $2.5 billion. Fourth-quarter revenue was also down 16 percent to $13.4 billion, but net income during this period fell 48 percent to $351 million, the company reported.

Dell founder and CEO Michael Dell pointed to various cost-saving measures the company has instituted as a means for the firm to manage its way through the economic downturn.  He expects Dell to save between $3 billion and $4 billion by fiscal 2011.

However, Dell’s overall outlook was not bright as he admitted many people and businesses are holding off on IT purchases until some improvement in the economy can be foreseen.

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