Dell Computer Corporation five-year statistical review

Transcription

1 five-year statistical review (DOLLARS IN MILLIONS, EXCEPT PER-SHARE, PER-UNIT DATA) FISCAL YEAR ENDED JAN. 29, 1999 FEB. 1, 1998 FEB. 2, 1997 JAN. 28, 1996 JAN. 29, 1995 OPERATING RESULTS Net revenue $ 18,243 $ 12,327 $ 7,759 $ 5,296 $ 3,475 Gross margin $ 4,106 $ 2,722 $ 1,666 $ 1,067 $ 738 Income before extraordinary loss $ 1,460 $ 944 $ 531 $ 272 $ 149 Income before extraordinary loss per common share Basic $ 0.58 $ 0.36 $ 0.19 $ 0.09 $ 0.06 Diluted $ 0.53 $ 0.32 $ 0.17 $ 0.08 $ 0.05 Operating income 11.2% 10.7% 9.2% 7.1% 7.1% Net income 8.0% 7.7% 6.7% 5.1% 4.3% PERCENT OF NET REVENUE Operating income $ 2,046 $ 1,316 $ 714 $ 377 $ 249 Net income $ 1,460 $ 944 $ 518 $ 272 $ 149 Income tax rate 30.0% 31.0% 29.0% 29.0% 30.0% Net revenue, by region Americas 68% 69% 68% 66% 69% Europe 26% 24% 26% 28% 27% Asia-Pacific and Japan 6% 7% 6% 6% 4% System net revenue, by product line Desktops 64% 71% 78% 81% 87% Enterprise 13% 9% 4% 3% 5% Portables 23% 20% 18% 16% 8% Non-system net revenue, percent of total system net revenue 7% 9% 10% 11% 12% Share and per-share information has been restated to reflect splits of the common stock in September 1998 and March

2 FISCAL YEAR ENDED JAN. 29, 1999 FEB. 1, 1998 FEB. 2, 1997 JAN. 28, 1996 JAN. 29, 1995 FINANCIAL POSITION Total current assets $ 6,339 $ 3,912 $ 2,747 $ 1,957 $ 1,470 Property, plant and equipment, net $ 523 $ 342 $ 235 $ 179 $ 117 Working capital $ 2,644 $ 1,215 $ 1,089 $ 1,018 $ 718 Total assets $ 6,877 $ 4,268 $ 2,993 $ 2,148 $ 1,594 Total current liabilities $ 3,695 $ 2,697 $ 1,658 $ 939 $ 752 Long-term debt $ 512 $ 17 $ 18 $ 113 $ 113 Stockholders equity $ 2,321 $ 1,293 $ 806 $ 973 $ 652 Total liabilities and stockholders equity $ 6,877 $ 4,268 $ 2,993 $ 2,148 $ 1,594 KEY RATIOS Current ratio Quick ratio Days of supply in inventory Days of sales in accounts receivable Days in accounts payable Return on invested capital 195% 186% 85% 39% 37% OTHER DATA Employees (year-end, approximate) 24,400 16,200 10,350 8,400 6,400 Average total revenue per unit (approximate) $ 2,350 $ 2,600 $ 2,700 $ 2,850 $ 2,900 Shares issued and outstanding (year-end) 2,543 2,574 2,768 2,992 2,580 Weighted average shares outstanding Basic 2,531 2,631 2,838 2,863 2,473 Diluted 2,772 2,952 3,126 3,158 3,000 Common shares outstanding (year-end) 2,543 2,574 2,768 2,990 2,540 Closing stock price (NASDAQ: DELL) $ $ $ 4.13 $ 0.86 $ 0.65 Market capitalization $ 127,150 $ 31,995 $ 11,430 $ 2,570 $ 1,650 21

3 senior management BOARD OF DIRECTORS MICHAEL S. DELL Dell Computer Corporation DONALD J. CARTY Chairman of the Board, President and AMR Corporation and American Airlines Inc. Committee: Compensation PAUL O. HIRSCHBIEL JR. President, Eden Capital, and Former Managing Director, Cornerstone Equity Investors L.L.C. Audit, Finance MICHAEL H. JORDAN Former CBS Corporation Audit, Nominating THOMAS W. LUCE III Of Counsel Hughes & Luce L.L.P. Compensation KLAUS S. LUFT Owner and President, MATCH - Market Access for Technology Services GmbH, and Vice Chairman/ International Advisor, Goldman Sachs Europe Ltd. Compensation CLAUDINE B. MALONE President, Financial & Management Consulting Inc. Finance ALEX J. MANDL Teligent Inc. Audit, Nominating MICHAEL A. MILES Former Philip Morris Companies Inc. Finance EXECUTIVE OFFICERS MICHAEL S. DELL Chief Executive Officer MORTON L. TOPFER Vice Chairman KEVIN B. ROLLINS Vice Chairman PAUL D. BELL Americas Home and Small Business Group G. CARL EVERETT JR. Personal Systems Group JAN GESMAR-LARSEN Senior Vice President and President, Europe, Middle East and Africa THOMAS B. GREEN Law and Administration, and Secretary JEROME N. GREGOIRE Senior Vice President and Chief Information Officer MICHAEL D. LAMBERT Enterprise Systems Group JOHN J. LEGERE Vice President and President, Asia-Pacific JOSEPH A. MARENGI Americas Relationship Group D. KEITH MAXWELL Worldwide Operations Group THOMAS J. MEREDITH Senior Vice President and Chief Financial Officer ROSENDO G. PARRA Americas Public and International Group CHARLES H. SAUNDERS Vice President and President, Japan MARY ALICE TAYLOR Corporate Executive Vice President, Global Operations and Technology, Citigroup Inc. Finance JAMES M. SCHNEIDER Finance 22

4 corporate information COMPANY INFORMATION Information about Dell s products, operations, financial results and history can be obtained online via REGIONAL HEADQUARTERS AMERICAS Dell Computer Corporation One Dell Way Round Rock, TX , Fax: EUROPE, MIDDLE EAST AND AFRICA Dell Computer Europe Dell Plaza Western Road Bracknell, Berkshire United Kingdom RG12 1DX Fax: ASIA-PACIFIC Dell Computer Asia Ltd Stanhope House King s Road Quarry Bay, Hong Kong Fax: INVESTOR DATA Dell Computer Corporation s common stock is traded on The Nasdaq National Market under the symbol DELL. The company s stock was initially offered to the public on June 22, 1988, at $8.50 per share. Following is a roster of subsequent stock splits: April 1992 October 1995 December 1996 July 1997 March 1998 September 1998 March for-2 (Example: One-hundred shares of Dell stock at the IPO was equal to 9,600 shares in April 1999.) One-hundred dollars invested in Dell at the IPO price was worth about $56,470 at the close of the last fiscal year, Jan. 29, Investor information, including Dell s fiscal 1999 year-in-review and annual reports, can be found at For printed copies of the annual report on Form 10-K (without exhibits), or other investor data, contact: Investor Relations Dell Computer Corporation One Dell Way Round Rock, TX The company s 1999 annual shareholders meeting will be held at 9:00 a.m. on Friday, July 16, at the Austin Convention Center, 500 E. Cesar Chavez St., Austin, Texas. INDEPENDENT ACCOUNTANTS PricewaterhouseCoopers LLP Austin, Texas JAPAN Dell Computer K.K. Solid Square East Tower 20F 580 Horikawa-cho, Saiwai-ku Kawasaki, Kanagawa Japan Fax:

5 corporate information DELL AND THE COMMUNITY Dell and its employees continued to enrich the lives of people around the world through corporate programs, the Dell Foundation and direct giving. As examples, Dell last year supported community traditions such as the Martin Luther King Day celebration in Austin, Texas; helped bring the arts to employees and neighbors through partnerships with the Austin Museum of Art and Japan s Ginza Gallery; and promoted understanding through technology in Ireland by donating to the Schools Exchange Programme, which links children from the Irish Republic with children in Northern Ireland. Since its inception in 1995, the Dell Foundation has contributed significantly to arts, education, and health and human-services projects for children. Company employees donated millions of dollars and thousands of hours to numerous service and community organizations and related events, among them the Juvenile Diabetes Foundation, March of Dimes WalkAmerica, Junior Achievement and Habitat for Humanity. More information about Dell s community activities can be found on the World Wide Web at DELL AND THE ENVIRONMENT Dell s positive environmental practices continued in fiscal 1999 through innovative product-design and clean-manufacturing initiatives. Dell achieved a 70-percent recycling and reuse rate at its manufacturing facilities worldwide, and was recognized for having the Best Workplace Recycling Program by the Recycling Coalition of Texas. Company products continued to meet the stringent environmental efficiency and design standards required for the German Blue Angel and Swedish TCO 95 certification labels. The U.S. Environmental Protection Agency Waste Wise program recognized Dell for its environmentally responsible programs, and Keep Austin Beautiful gave Dell its President s Award. For a more extensive description of Dell s environmental programs,visit via the Internet. Statements in this report that relate to future results and events are based on the company s current expectations. Actual results in future periods may differ materially from those currently expected or desired because of a number of risks and uncertainties, including the level of demand for personal computers; the intensity of competition; currency fluctuations; the cost of certain key components; and the company s ability to effectively manage product transitions and material availability, to minimize excess and obsolete inventory and to continue to expand and improve its infrastructure (including personnel and systems). Additional discussion of these and other factors affecting the company s business and prospects is contained in the company s periodic filings with the U.S. Securities and Exchange Commission. Dell, Dimension, Latitude, OptiPlex and PowerEdge are registered trademarks; Inspiron, Dell Precision and PowerVault are trademarks; Gigabuys is a registered service mark; and Be Direct, Premier Pages, and ImageWatch are service marks of Dell Computer Corporation. Other trademarks and trade names used in this document refer either to the entities claiming the marks and names, or to their products. Dell disclaims proprietary interest in the marks and names of others. 24

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7 To learn more about Being Direct, visit Dell s Fiscal 1999 in Review on-line: Dell Computer Corporation is an Equal-Opportunity/Affirmative-Action Employer