Sunday August 20, 2006 
Sunday August 20, 2006
Dell profit drops 51%, comes under SEC review
Dell reported a 51% drop in profit and said that the U.S. Securities and Exchange Commission (SEC) told it in August 2005, that it was conducting an informal investigation of the company. News of the SEC review is the latest blow to Dell, which this week announced the biggest electronics recall in U.S. history after faulty Sony battery cells caused several of its laptops to overheat and burst into flames.
Its fortunes contrast with No. 2 PC maker Hewlett-Packard which reported better-than-expected quarterly profit as it took market share from Dell. Dell can no longer rely on price advantages from its direct-sales model to trump rivals and is struggling to improve its battered image, analysts said. Dell's stock, down 40% in the past 12 months, trades at about the same multiple to expected per-share earnings as Hewlett-Packard, whose stock is up 41% in that period.
See also :
1. Dell laptop explodes at Japanese conference
2. Man blames Dell laptop for house fire
(2006-08-20 08:21:14 SGT)
[Biz]
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