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article imageDell Earnings Fall Through Floor - 33% Loss

By malan     Mar 8, 2007 in Business
Profit loss due to federal investigation into company's finances.
In what Dell is calling an "preliminary earnings report" that has been released to due a federal investigation of the company's finances, the well known PC maker's profits dropped a staggering 33%.
"We are disappointed with the company's results, but what matters is our future plan of action," Chairman and CEO Michael Dell said in a statement. "We are systematically moving to increase efficiencies, improve execution and transform the company."
It's amazing to see what happens to a company's numbers when an investigation like this happens. Since the Enron scandal people just seem to jump ship when they smell a rat. Coupled with the fact that competitors like HP are really starting to compete and own a larger part of the market share. Dell could be in some serious trouble.
More about Dell, Earnings, Plunge, 33, Sales
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