• Executives share vision for long-term value creation at annual meeting of stockholders
  • Revenue over past four completed quarters exceeded company’s long-term, 5-7 percent growth goal
  • GAAP operating income of 6.7 percent during past four completed quarters near 7 percent goal

Dell’s strategy to develop its capability as an efficient technology solutions provider, grow faster than the industry in strategic areas and shift the company’s mix to higher-value products and solutions was outlined here today at the company’s annual stockholders meeting.

During the meeting, Michael Dell, chairman and CEO, and Brian Gladden, chief financial officer, reviewed the company’s business progress and its competitively differentiated strategy to deliver solutions that are highly capable, affordable and flexible to meet the needs of large enterprises, public institutions, small and mid-size businesses.

Mr. Dell described the company’s focus on next-generation computing solutions and intelligent data management; services, security and cloud; and end-user computing, which are critical to driving industry leadership and growing operating income and cash flow over time.

“We are investing for growth, building on our strengths and have developed the solutions portfolio that our customers value,” said Mr. Dell. “We’ve made significant progress and it is reflected in our financial performance.”

Mr. Gladden described key priorities underway to enable the company to deliver on its long-term value creation framework of 5-7 percent revenue growth, GAAP operating income of more than 7 percent and cash flow from operations exceeding net income. He also said the company will continue to invest in differentiated enterprise solutions and services to help the company reach its goals.

“We’re increasingly optimistic about our development of important capabilities for the company and the delivery of new solutions for our customers, and encouraged by the financial results we’ve delivered,” said Mr. Gladden.

In formal business at the meeting, stockholders:

  • Re-elected 10 company directors: James W. Breyer; Donald J. Carty; Michael S. Dell; William H. Gray, III; Gerard J. Kleisterlee; Thomas W. Luce, III; Klaus S. Luft; Alex J. Mandl; Shantanu Narayen; and, Ross Perot, Jr.;
  • Approved the compensation of Dell’s named executive officers as disclosed in the company’s proxy statement;
  • Approved one year as the frequency with which Dell holds a stockholder advisory vote to approve the compensation of its named executive officers;
  • Rejected a stockholder proposal to adopt a policy that the Board’s chairman be an independent director;
  • Rejected a stockholder proposal to permit the company’s stockholders to act by written consent instead of at a meeting of stockholders;
  • Rejected a stockholder proposal that the Board declare a quarterly dividend; and,
  • Ratified PricewaterhouseCoopers LLP as Dell’s independent auditor for fiscal 2012.

Judy Lewent and Sam Nunn, company directors since May 2001 and December 1999 respectively, retired from the Board, effective today, as previously announced.

“Dell and its stockholders have benefitted greatly from the leadership and perspective Judy and Sam have provided,” said Mr. Dell. “We’re grateful for their guidance during their time on the Dell Board, and we wish them well in all their endeavors.”

Presentations and other information for the stockholders meeting can be found at: www.dell.com/investors.

About Dell

Dell Inc. (NASDAQ: DELL) listens to customers and delivers worldwide innovative technology, business solutions and services they trust and value. For more information, visit www.dell.com.

Special Note:

Statements in this press release that relate to future results and events (including statements about Dell’s financial results, investments, acquisitions and strategic focus) are forward-looking statements and are based on Dell's current expectations. In some cases, you can identify these statements by such forward-looking words as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “confidence,” “may,” “plan,” “potential,” “should,” “will” and “would,” or similar expressions. Actual results and events in future periods may differ materially from those expressed or implied by these forward-looking statements because of a number of risks, uncertainties and other factors, including: intense competition; Dell’s cost-cutting measures; Dell’s ability to effectively manage the growth of its distribution capabilities and add to its product and services offerings; Dell’s ability to effectively manage periodic product and services transitions; weak global economic conditions and instability in financial markets; Dell’s ability to generate substantial non-U.S. net revenue; weak economic conditions and additional regulation affecting Dell’s financial services activities; Dell’s ability to achieve favorable pricing from its vendors; Dell’s ability to deliver consistent quality products and services; Dell’s reliance on third-party suppliers for product components, including reliance on several single-sourced or limited-sourced suppliers; successful implementation of Dell’s acquisition strategy; Dell’s product, customer, and geographic sales mix, and seasonal sales trends; access to the capital markets by Dell or its customers; loss of government contracts; the risk of temporary suspension or debarment from contracting with U.S. federal, state and local governments as a result of settlements of an SEC investigation by Dell and Dell’s Chairman and CEO; customer terminations of or pricing changes in services contracts, or Dell’s failure to perform as it anticipates at the time it enters into services contracts; Dell’s ability to obtain licenses to intellectual property developed by others on commercially reasonable and competitive terms; information technology and manufacturing infrastructure disruptions or breaches of data security; Dell’s ability to hedge effectively its exposure to fluctuations in foreign currency exchange rates and interest rates; counterparty default; unfavorable results of legal proceedings; expiration of tax holidays or favorable tax rate structures, or unfavorable outcomes in tax audits and other compliance matters; Dell’s ability to attract, retain, and motivate key personnel; Dell’s ability to maintain strong internal controls; changing environmental and safety laws; the effect of armed hostilities, terrorism, natural disasters, and public health issues; and other risks and uncertainties discussed in Dell’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for its fiscal year ended Jan. 28, 2011. Dell assumes no obligation to update its forward-looking statements.

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