July 13, 2012 at 8:00 - 9:00 AM CT
Dell Round Rock Campus
501 Dell Way
Building 2-East
Round Rock, Texas 78682
Live via the Internet at www.virtualshareholdermeeting.com/dell2012

View the webcast and access materials related to the 2012 Annual Meeting of Stockholders by using the links below:


The meeting featured presentations by Chairman and CEO, Michael Dell and Senior Vice President and CFO, Brian Gladden, and was followed by a question-and-answer session.

Non-GAAP Financial Measures:

This presentation includes information about non-GAAP operating income and non-GAAP gross margin (the “non-GAAP financial measures”), which are not a measurement of financial performance prepared in accordance with U.S. generally accepted accounting principles. Unless otherwise noted, ALL REFERENCES TO OPERATING INCOME OR GROSS MARGIN REFER TO NON-GAAP OPERATING INCOME AND NON-GAAP GROSS MARGIN, respectively.
We have provided a reconciliation of the historical non-GAAP financial measures to the most directly comparable GAAP measure sin the slides captioned “Supplemental Non-GAAP Measures.” Non-GAAP operating income growth as targeted for Fiscal 2016, which is a forward looking non-GAAP financial measure, excludes the following items, some of which Dell cannot forecast with certainty or accuracy due to their inherently indefinite and contingent nature, thereby preventing Dell from reconciling its projections to GAAP: acquisition related charges, amortization of purchased intangible assets related to acquisitions, and severance and facility action costs. A detailed discussion of our reasons for including the non-GAAP financial measures and the limitations associated with those measures is presented in” Management’s Discussion and Analysis of Financial Condition and Results of Operations – Results of Operations - Non-GAAP Financial Measures” in Dell’s annual report on Form 10-K for the financial year ended February 3, 2012. We encourage investors to review the historical reconciliation and the non-GAAP discussion in conjunction with our presentation of the non-GAAP financial measures.





Special Note on Forward Looking Statements:
Statements in this webcast that relate to future results and events (including statements about Dell’s future financial and operating performance, operating strategies, strategic investments, cost reductions, capital allocation, sales force execution, and product mix, as well as the FY16 financial targets) 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 reliance on third-party suppliers for product components, including reliance on several single-sourced or limited-sourced suppliers; Dell’s ability to achieve favorable pricing from its vendors; weak global economic conditions and instability in financial markets; Dell’s ability to manage effectively the change involved in implementing strategic initiatives; successful implementation of Dell’s acquisition strategy; Dell’s cost-efficiency measures; Dell’s ability to effectively manage periodic product and services transitions; Dell’s ability to deliver consistent quality products and services; Dell’s ability to generate substantial non-U.S. net revenue; Dell’s product, customer, and geographic sales mix, and seasonal sales trends; the performance of Dell’s sales channel partners; access to the capital markets by Dell or its customers; weak economic conditions and additional regulation affecting our financial services activities; counterparty default; 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; loss of government contracts; Dell’s ability to obtain licenses to intellectual property developed by others on commercially reasonable and competitive terms; infrastructure disruptions; cyber attacks or other data security breaches; Dell’s ability to hedge effectively its exposure to fluctuations in foreign currency exchange rates and interest rates; expiration of tax holidays or favorable tax rate structures, or unfavorable outcomes in tax audits and other compliance matters; impairment of portfolio investments; unfavorable results of legal proceedings; 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 February 3, 2012. Dell assumes no obligation to update its forward-looking statements.