Dell Computer Corp., Round Rock, TX, reported last week that revenues for fiscal 1998 soared 58.9 percent to $12.3 billion, from $7.8 billion last year. The computer direct marketer's net income grew 82.2 percent to $944 million in fiscal 1998, up from $518 million in 1997.
Revenues for the fourth quarter ended Feb. 1 hit $3.7 billion, a 54.9 percent increase from $2.4 billion for the fourth quarter of 1997. Fourth-quarter net income increased to $285 million, up 51.6 percent from $188 million for the same period last year.
By year's end, www.dell.com was generating sales of more than $4 million per day and received about 10 million visits in the fourth quarter.
Dell's board of directors also declared a two-for-one stock split. The split, the company's fifth in the last six years, will be paid in the form of a 100 percent stock dividend issued March 6 to shareholders of record as of Feb. 27.
“We see additional opportunities in the year ahead,” said chairman and CEO Michael Dell, noting that his company plans to expand in Asia/Pacific, Latin America and Europe and to increase its shares of the server, workstation and notebook markets. “The Internet holds great promise for us to enhance efficiencies as we ultimately move toward a goal of virtual integration with our customers and suppliers.”