Dell reported fourth quarter net earnings of $456m - in line with expectations.
The PC vendor had turnover of $8.1bn for the quarter to 1 February compared to $8.7b a year ago.
Full-year net earnings were $1.25bn versus $2.18bn in for its financial year 2001.
Chairman and chief executive Michael Dell said that a seasonal drop in purchases of home computers combined with softness in demand from businesses will lead to a drop in sales in the current quarter.
The company saw a growth in shipments of PowerEdge servers of 27 per cent worldwide, and shipments of Dell Precision workstations were up 21 per cent.
Combined unit volumes of Inspiron and Latitude notebook computers were up at twice the quarterly industry rate, and four times faster for all of last year, Dell said.
Shipments of Dell products in Europe increased nine per cent in the fourth quarter, compared to the industry decline of five per cent.
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