Digital Edition

SYS-CON.TV
'Complexity' Keeps Dell from Reporting its Quarter; SEC Probe - Uh-Oh - Gets Serious
Dell's fortunes just soured again - just when Wall Street was starting to think of it as a turnaround story

Dell's fortunes just soured again - just when Wall Street was starting to think of it as a turnaround story even if it hasn't really done much to deserve that assessment.

Anyway, first off, that 16-month-old SEC investigation that Dell tried to keep quite and didn't tell anybody existed until this past August has turned formal, suggesting there are problems with its books and how it recognizes revenues.

However, Dell claims this has nothing to do with the second problem, which is that it can't get its numbers out.

It was supposed to report its third fiscal quarter Thursday, but "the level of complexity the company is facing," it said, " in the preparation of its preliminary results" defeated it.

Apparently its adding machine gave out under the demands of the ongoing SEC investigation and the company's own audit committee investigation "into certain accounting and financial reporting matters."

A couple of months ago Dell said the audit committee had issues with some "accruals, reserves and other balance sheet items" that could impact past results - oh, yes, and the US Attorney's Office in New York had subpoenaed some documents.

It doesn't help, Dell said Thursday, that it hasn't filed its second-quarter 10-Q yet.

It's promising to post its results by the end of the month - which gives it two weeks - but says it won't have a conference call - where people might ask questions - it'll just put out a press release. None of which is good, especially since earnings are expected to be a bummer, down, oh, maybe 38% year-over-year on revenues up marginally.

Dell also said that ongoing forward it.

About Security News Desk
SYS-CON's Security News desk trawls the world of security for news of software, hardware, products, and services that seems likely to be of interest to infosec professionals and summarizes them for easy assimilation by busy IT managers and staff.

In order to post a comment you need to be registered and logged in.

Register | Sign-in

Reader Feedback: Page 1 of 1

even if it hasn't really done much to deserve that assessment. Anyway, first off, that 16-month-old SEC investigation that Dell tried to keep quite and didn't tell anybody existed until this past August has turned formal, suggesting there are problems with its books and how it recognizes revenues.




ADS BY GOOGLE
Subscribe to the World's Most Powerful Newsletters

ADS BY GOOGLE

The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news an...
DXWorldEXPO | CloudEXPO are the world's most influential, independent events where Cloud Computing w...
Disruption, Innovation, Artificial Intelligence and Machine Learning, Leadership and Management hear...
Enterprises are striving to become digital businesses for differentiated innovation and customer-cen...
DXWorldEXPO LLC announced today that Telecom Reseller has been named "Media Sponsor" of CloudEXPO | ...
"Calligo is a cloud service provider with data privacy at the heart of what we do. We are a typical ...
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As au...
"We host and fully manage cloud data services, whether we store, the data, move the data, or run ana...
Enterprise architects are increasingly adopting multi-cloud strategies as they seek to utilize exist...
In this Women in Technology Power Panel at 15th Cloud Expo, moderated by Anne Plese, Senior Consulta...
To Really Work for Enterprises, MultiCloud Adoption Requires Far Better and Inclusive Cloud Monitori...
Adding public cloud resources to an existing application can be a daunting process. The tools that y...
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, ...
Discussions of cloud computing have evolved in recent years from a focus on specific types of cloud,...
We are seeing a major migration of enterprises applications to the cloud. As cloud and business use ...
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost...
DXWorldEXPO LLC announced today that "IoT Now" was named media sponsor of CloudEXPO | DXWorldEXPO 20...
In this presentation, you will learn first hand what works and what doesn't while architecting and d...
Everyone wants the rainbow - reduced IT costs, scalability, continuity, flexibility, manageability, ...
Founded in 2000, Chetu Inc. is a global provider of customized software development solutions and IT...