Dell surpassed analysts' expectations for its second quarter and said it expects its meteoric growth to continue well into the millennium.
For the quarter ending 30 July 1999, the company reported a 42 per cent rise in revenue to $6.1 billion compared to $4.3 billion for the same quarter last year.
Profit jumped 47 per cent to $507 million, from $346 in the year earlier quarter.
Overall, earnings per share rose 58 per cent to 19 cents.
Company chief executive Michael Dell said in the last month of the quarter sales of Dell products online reached $30 million per day, representing nearly 40 per cent of company revenue.
By comparison, Dell's online sales in December 1997 were $3 million a day.
Dell commented: "We are now the largest direct company within the worldwide home and small business market, and are significantly more profitable in that space than our nearest direct competitor," he said.
"Our US shipments grew more than 100 per cent in the quarter, and about one half of those sales were generated online."
In Europe, Dell achieved a 24 per cent revenue gain, with company shipments growing at more than double those for the total industry. Another high point for the company was attaining the number one ranking in PC shipments in the UK, overtaking Compaq for the first time. (see Newswire 8 August 1999)
Contrary to what some of its competitors have said, Dell said uncertainty about the Year 2000 issue and its affect on computer system purchasing is diminishing. Dell said he expected overall demand to be very healthy in the second half of this year.
"Based on what customer's are telling us, we expect sequential industry growth to follow historical trends, Y2K notwithstanding."
He added: "And we're very optimistic about our ability to grow at a multiple of the industry rate."
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