Reuters: Technology News: Dell's profit dives as billionaire battle rages on

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Dell's profit dives as billionaire battle rages on May 16th 2013, 20:35 Tweet Share this Email Print Related News Highfields, other funds dove into Dell fray in first quarter Wed, May 15 2013 Dell to report earnings five days early, on May 16 Tue, May 14 2013 Icahn, Southeastern reveal board nominees as Dell seeks more info Mon, May 13 2013 Icahn, Southeastern mount challenge to Dell buyout Fri, May 10 2013 Dell shares at two month low after Blackstone pulls out Fri, Apr 19 2013 Analysis & Opinion Speech-tech firm's M&A machine could go in reverse Could Silver Lake quietly be rooting for Icahn? A man wipes the logo of the Dell IT firm at the CeBIT exhibition centre in Hannover February 28, 2010. Credit: Reuters/Thomas Peter SAN FRANCISCO | Thu May 16, 2013 4:12pm EDT SAN FRANCISCO (Reuters) - Dell Inc, the subject of a takeover battle between activist investor Carl Icahn and the company's billionaire founder, reported a 79 percent slide in profit as personal computer sales continue to shrink. Revenue in its fiscal first quarter ended May 3 fell to $14.1 billion, while net income fell to $130 million, Dell said on Thursday. The revenue was higher than the average analyst estimate of $13.5 billion according to Thomson Reuters I/B/E/S. Michael Dell wants to take the world's third-largest PC maker private for $24.4 billion, but Icahn and major stakeholder Southeastern Asset Management dismiss that as too low and are proposing new leadership and additional cash or stock for shareholders. (Reporting by Poornima Gupta; Editing by Richard Chang) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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