Dell Technologies Reports Fiscal Year 2020 Fourth Quarter and Full Year Financial Results

ROUND ROCK, Texas, Feb. 27, 2020 — (PRNewswire) —

News summary

  • Record full year revenue of $92.2 billion
  • Full year net income of $5.5 billion; adjusted EBITDA of $11.8 billion
  • Record Client Solutions Group full year revenue of $45.8 billion
  • Share repurchase program of up to $1 billion over the next 24 months

Full story
Dell Technologies (NYSE: DELL) announces financial results for its fiscal 2020 fourth quarter and full year.

Fourth quarter revenue was $24.0 billion, up 1 percent, and non-GAAP revenue was $24.1 billion, up 1 percent, over the same period last year. During the quarter, the company generated operating income of $717 million, a 117 percent increase over the same period in the prior year, and non-GAAP operating income of $2.8 billion, up 4 percent over the prior year. Net income was $416 million or approximately 2 percent of revenue. Non-GAAP net income was $1.7 billion or 7 percent of non-GAAP revenue. Diluted earnings per share was $0.54 and non-GAAP diluted earnings per share was $2.00.

For the full year, revenue was $92.2 billion, up 2 percent, and non-GAAP revenue was $92.5 billion, up 1 percent, over the prior year. The company increased its operating income to $2.6 billion from a $0.2 billion loss in the prior year and generated non-GAAP operating income of $10.1 billion, up 15 percent over the prior year. Cash flow from operations was $9.3 billion, up 33 percent from fiscal year 2019. For the full year, net income was $5.5 billion and non-GAAP net income was $6.1 billion. Diluted earnings per share was $6.03 and non-GAAP diluted earnings per share was $7.35.

"In fiscal 2020, we focused on integration and simplicity across our businesses and product portfolio to accelerate winning go-to-market solutions for our customers," said Jeff Clarke, chief operating officer, Dell Technologies. "With more than $180 billion in revenue over the past two years and significant investments in research, innovation and breadth of capability, we have a uniquely advantaged position heading into the next digital decade."

Fourth Quarter and Full Year Fiscal 2020 Financial Results



Three Months Ended




Fiscal Year Ended




January 31,
2020


February 1,
2019


Change


January 31,
2020


February 1,

2019


Change



(in millions, except percentages; unaudited)


Total net revenue

$

24,032


$

23,841


1%


$

92,154


$

90,621


2%

Operating income (loss)

$

717


$

331


117%


$

2,622


$

(191)


NM

Net income (loss)

$

416


$

(287)


245%


$

5,529


$

(2,181)


354%

















Non-GAAP net revenue

$

24,129


$

24,008


1%


$

92,501


$

91,324


1%

Non-GAAP operating income

$

2,767


$

2,656


4%


$

10,148


$

8,854


15%

Non-GAAP net income

$

1,684


$

1,592


6%


$

6,089


$

5,227


16%

Adjusted EBITDA

$

3,201


$

3,028


6%


$

11,787


$

10,296


14%


Information about Dell Technologies' use of non-GAAP financial information is provided under "Non-GAAP Financial Measures" below. All comparisons in this press release are year-over-year unless otherwise noted.


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