Dell Technologies Reports Fiscal Year 2018 Fourth Quarter and Full Year Financial Results

ROUND ROCK, Texas, March 8, 2018 — (PRNewswire) —

 (PRNewsfoto/Dell Technologies)

News summary

  • Strong velocity with record revenue of $21.9 billion for the fourth quarter, up 9 percent
  • $6.8 billion cash flow from operations for the full year and paid $10 billion of debt since EMC transaction close
  • Exited the fiscal year with growth across all segments; strong customer acceptance across the Dell Technologies portfolio
  • Leader in 21 of the top market share categories

Full story

Dell Technologies (NYSE: DVMT) announces its fiscal 2018 fourth quarter and full year results. For the fourth quarter, consolidated revenue was $21.9 billion, up 9 percent, and non-GAAP revenue was $22.2 billion, up 8 percent from the prior period. During the quarter, the company generated a GAAP operating loss of $321 million1, with a non-GAAP operating income of $2.1 billion, up 15 percent.

For the full year, consolidated revenue was $78.7 billion and non-GAAP revenue was $79.9 billion. The company generated an annual GAAP operating loss of $3.3 billion, with a non-GAAP operating income of $6.9 billion.

"I was pleased with our results in fiscal 2018. We finished the year with good revenue and profitability momentum, with non-GAAP operating income up 15 percent year-over-year," said Tom Sweet, chief financial officer, Dell Technologies. "We drove velocity at or above market rate in multiple areas of the business and generated strong operating cash flow as we brought the full capabilities of Dell Technologies together. In fiscal 2019 we'll continue to execute our long-term strategy, capitalizing on our broad portfolio of solutions for customers at every stage of the digital transformation journey."

The company ended the year with a cash and investments balance of $20.3 billion, an increase of $2.3 billion from the third quarter and an increase of $5.0 billion from last year. Since closing the EMC transaction, Dell Technologies has paid down approximately $10 billion in gross debt, excluding Dell Financial Services debt.

Fiscal year 2018 fourth quarter and full year results


Three Months Ended




Fiscal Year Ended




February 2, 2018


February 3, 2017


Change


February 2, 2018


February 3, 2017


Change


(in millions, except percentages; unaudited)













Net revenue

$                         21,935


$                         20,074


9 %


$                         78,660


$                         61,642


28 %

Operating loss

$                            (321)


$                         (1,668)


81 %


$                         (3,333)


$                         (3,252)


(2)%

Net loss from continuing operations

$                            (553)


$                         (1,414)


61 %


$                         (3,855)


$                         (3,737)


(3)%













Non-GAAP net revenue

$                         22,219


$                         20,581


8 %


$                         79,929


$                         62,822


27 %

Non-GAAP operating income

$                           2,120


$                           1,843


15 %


$                           6,855


$                           5,113


34 %

Non-GAAP net income from continuing operations

$                           1,097


$                           1,091


1 %


$                           3,660


$                           2,687


36 %

Adjusted EBITDA

$                           2,466


$                           2,184


13 %


$                           8,217


$                           5,941


38 %


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