Dell Inc. (DELL) said it will report its fiscal first-quarter
results on Thursday, three business days sooner than it had
initially planned, the computer giant said Tuesday.
The company had planned to announce the results on May 21.
CNBC's David Faber earlier Tuesday cited people close to the
situation as saying that Dell's results are expected to be below
market expectations. He said the company's trend points to annual
operating income "well below" $3 billion.
The news comes as founder and Chief Executive Michael Dell is
seeking to take the company private in a $24.4 billion deal, while
activist investor Carl Icahn and Southeastern Asset Management
Inc.--Dell's largest outside shareholder--last week proposed an
alternative offer.
A special committee of the Dell board, responding to the
alternative proposal, said it would consider the overture only if
the two parties came forward with secured financing, a proposed
management team and a litany of details not included in their
initial proposal.
A strong earnings report could play into the hands of Mr. Icahn
and Southeastern, while a weak report could persuade shareholders
they should take the deal on the table.
Shares slipped seven cents to $13.45 in recent trading. The
stock is up 40% over the past six months.
Write to Debbie Cai at debbie.cai@dowjones.com
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