Dell's fourth quarter results fell short of expectations Thursday and the company "will continue to incur costs as it realigns its business to improve growth and profitability." Meanwhile, Dell said future results "could be adversely impacted by more conservative spending by its customers."
Simply put, Dell is still a work in progress and it's unclear when the company will be firing on all cylinders. For the quarter ending Feb. 1 (preview, Dell statement), Dell said net income was $679 million, or 31 cents a share, on revenue of $16 billion. Excluding charges Dell had earnings of 34 cents a share.
According to Thomson Financial, Dell was expected to report fourth quarter earnings of 36 cents a share with revenue of $16.26 billion. Some analysts had expected Dell to miss estimates with earnings of 35 cents a share, but Dell missed that target too.
For the year, Dell reported earnings per share of $1.31 a share on revenue of $61.1 billion, up 6 percent from a year ago. In a statement, CEO Michael Dell said the company is executing against its plan. However, thus far those plans aren't enough to deliver the results Wall Street wants.
Here's the fourth quarter by the numbers: