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Dell profits fall 63%
Computer manufacturer sees declining revenues
29 May 2009 12:15 GMT / By Duncan Geere
Computer manufacturer Dell has seen its quarterly profits fall by nearly two-thirds. The second-largest PC maker made a profit of $290m (£182m) in February, March and April, in contrast to $784m (£488m) a year ago.
The blame has been pinned on the worldwide recession, with Dell labelling the trading environment "challenging". Revenues fell 23% to $12.3bn.
Dell has already announced cost-cutting measures which includes shedding 9,000 staff over the last year. Chairman Michael Dell said: "We're continuing to transform the company on the cost side and delivering strong cash flow".
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