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Dell's fourth quarter just misses

For fiscal 2013, the company says that non-GAAP earnings will top the $2.13 a share mark posted in fiscal 2012.

Dell delivered fourth-quarter results that fell just short of expectations. Dell’s sales and outlook for fiscal 2013 were above expectations.

Dell’s fourth-quarter revenue topped estimates, but earnings were light. The company reported fourth-quarter earnings of $764 million, or 43 cents a share, on revenue of $16.03 billion. Non-GAAP earnings were 51 cents a share.

Wall Street expected Dell to report fourth-quarter earnings of 52 cents a share on revenue of $15.96 billion.

For the year, Dell reported earnings of $3.49 billion, or $1.88 a share, on revenue of $62.07 billion.

Dell's Q4 2012 earnings
Screenshot by Larry Dignan/ZDNet

As for the outlook, Dell said it will “prioritize operating income and cash flow.” For fiscal 2013, the company said that non-GAAP earnings will top the $2.13 a share mark posted in fiscal 2012. Wall Street was looking for fiscal 2013 earnings of $2.05. Revenue in the first quarter will fall 7 percent from the fourth quarter due to seasonality.

By the numbers:

  • Dell’s large enterprise unit delivered fourth-quarter sales of $4.9 billion, up 5 percent. Operating income for the quarter was $461 million.
  • Public sector revenue in the fourth quarter was $3.9 billion, down 1 percent from a year ago. Operating income was $327 million. Dell said it was seeing weakness in U.S. and Europe government spending.
  • SMB revenue was up 6 percent from a year ago to $4 billion in the fourth quarter. Operating income was $412 million.
  • Dell’s consumer revenue in the fourth quarter fell 2 percent to $3.2 billion. Operating income was $39 million.
  • Asia-Pacific and Japan revenue was up 10 percent from a year ago. Europe Middle East and Africa saw fourth quarter revenue jump 8 percent from a year ago. Americas revenue fell 3 percent.
  • Dell said its services revenue in the fourth quarter was $2.2 billion, up 12 percent from a year ago. Services backlog was up 11 percent to $15.5 billion.
  • Mobility revenue was $4.87 billion in the fourth quarter, up 3 percent from a year ago. Servers and networking revenue was $2.2 billion in the fourth quarter, up 6 percent from a year ago. Storage revenue fell 13 percent due to the end of a partnership with EMC.

This story originally appeared at ZDNet's Between the Lines under the headline "Dell's Q4 a mixed bag with pockets of enterprise strength."