Dell Reports Fourth Quarter, Full Fiscal Year Financial Results

⁽¹⁾ Includes the results of Dell's Fiscal 2013 acquisitions from their respective acquisition dates.

DELL INC.
Reconciliation of Non-GAAP Financial Measures
(in millions, except per share data and percentages; percentage growth rates and ratios are calculated based on underlying data in thousands)
(unaudited)


	Fiscal Year Ended						% Growth Rates
	February 1, 2013 ⁽¹⁾			February 3, 2012			Yr. to Yr.
GAAP gross margin	$	12,186		$	13,811		(12	)%
Non-GAAP adjustments:
Amortization of intangibles		455			305
Severance and facility actions and acquisition-related costs		67			49
Non-GAAP gross margin	$	12,708		$	14,165		(10	)%

GAAP operating expenses	$	9,174		$	9,380		(2	)%
Non-GAAP adjustments:
Amortization of intangibles		(158	)		(86	)
Severance and facility actions and acquisition-related costs		(281	)		(264	)
Non-GAAP operating expenses	$	8,735		$	9,030		(3	)%

GAAP operating income	$	3,012		$	4,431		(32	)%
Non-GAAP adjustments:
Amortization of intangibles		613			391
Severance and facility actions and acquisition-related costs		348			313
Non-GAAP operating income	$	3,973		$	5,135		(23	)%

GAAP net income	$	2,372		$	3,492		(32	)%
Non-GAAP adjustments:
Amortization of intangibles		613			391
Severance and facility actions and acquisition-related costs		348			313
Aggregate adjustment for income taxes		(316	)		(244	)
Non-GAAP net income	$	3,017		$	3,952		(24	)%

GAAP earnings per share - diluted	$	1.35		$	1.88		(28	)%
Non-GAAP adjustments per share - diluted		0.37			0.25
Non-GAAP earnings per share - diluted	$	1.72		$	2.13		(19	)%

Diluted WAS		1,755			1,853

Percentage of Total Net Revenue:
GAAP gross margin		21.4	%		22.3	%
Non-GAAP adjustment		0.9	%		0.5	%
Non-GAAP gross margin		22.3	%		22.8	%

GAAP operating expenses		16.1	%		15.2	%
Non-GAAP adjustment		(0.8	)%		(0.7	)%
Non-GAAP operating expenses		15.3	%		14.5	%

GAAP operating income		5.3	%		7.1	%
Non-GAAP adjustment		1.7	%		1.2	%
Non-GAAP operating income		7.0	%		8.3	%

GAAP net income		4.2	%		5.6	%
Non-GAAP adjustment		1.1	%		0.8	%
Non-GAAP net income		5.3	%		6.4	%

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 Next Page »