In its first financial report since returning to the public market, Dell Technologies has posted decent increases in sales for both the fourth quarter and the full year. Quarterly revenue for the three months ended 1 February reached $23.8bn, a 9% jump, and full year sales were up 15% to $90.6bn.
The company's results continue to be a mixed bag following the mammoth EMC acquisition and the amount it had to borrow to complete the deal. The company posted a 92% reduction in its operating losses for the year to $191m, and non-GAAP full year operating income was $8.9bn - up 14% on the previous year.
During the quarter, the company generated operating income of $331m versus an operating loss of $69m in the fourth quarter last year. Fourth quarter non-GAAP operating income was $2.7bn.
During the year, the net loss decreased 25% to $2.1bn and adjusted EBITDA increased 13% to $10.3bn. Since closing the EMC transaction, Dell Technologies has paid down approximately $14.6bn in gross debt, excluding Dell Financial Services related and subsidiary debt.
"Fiscal 2019 was a year of great progress and momentum. We advanced our leading portfolio through a focus on innovation, added new customers through both direct and channel growth, and delivered solutions from the edge to the core to the cloud," said Jeff Clarke, vice chairman of products and operations at Dell Technologies.
"As data growth continues to explode alongside technology trends like 5G, AI and machine learning, we'll continue to drive a wave of innovations to unlock the power of our customers' data capital."
Infrastructure Solutions Group revenue for the full year was $36.7bn, up 19%, with servers and networking revenue of $20bn, up 28%. Storage revenue reached $16.7bn, up 9% year-over-year. Operating income was $4.2bn for the full year, up 35%.
Annual Client Solutions Group revenue – including PCs and notebooks - was $43.2bn, up 10%, with operating income at $2bn. VMware revenue for the year was up 14% to $9.1bn. Sales from other businesses, including Pivotal, Secureworks, RSA Security, Virtustream and Boomi, was up 6% to $2.3bn for the 12 months.
