Motor City Fastener buys Emco, an electrical and mechanical supplies distributor, and gains a presence in the Southeast.
No. 16 in the B2B E-Commerce 300, Dell realized a spike in revenue from data storage products but posted a net loss of $1.637 billion.
With a renewed focus on “enabling customers’ digital transformation initiatives,” Dell Technologies Inc. reported a 28.2% increase in revenue for its fiscal third quarter ended Oct. 28, to $16.247 billion from $12.674 billion in the year-earlier quarter.
“We remain intensely focused on enabling customers’ digital transformation initiatives,” chief financial officer Tom Sweet says. “This customer-first focus is also driving our near-term priorities, which include successfully integrating our salesforce and channel partner programs and seizing top-line synergies through cross-selling opportunities.”
The privately held company—which unlike most private companies publicly releases its financial figures—realized much of its increased revenue in the quarter from its acquisition of data storage company EMC Corp., which closed on Sept. 7. Following the acquisition, which was completed by the former Dell Inc. the new company changed its name to Dell Technologies. Dell doesn’t break out e-commerce sales, but it’s ranked No. 16 in the B2B E-Commerce 300 with more than $11 billion in annual B2B e-commerce sales.
Dell’s third-quarter results include revenue as of Sept. 7 from EMC, Dell said in a conference call with stock analysts yesterday, according to a transcript provided by Seeking Alpha. It said the quarter’s increase in revenue was “primarily attributable” to the acquired EMC business.
Dell Technologies is comprised of several units—including Dell for computer products; Dell EMC for data storage and related products and services; Pivotal for software development; Dell Boomi professional services; and RSA, SecureWorks, Virustream and VMware for security and cloud-based infrastructure—that offer internet-based technology and services designed to help client companies digitalize much of their internal and external operations.
Among Dell’s products and services are online systems for business-to-business and retail-focused CRM, sales and marketing systems. (Dell sold earlier this year Dell Services, which also provided e-commerce and other digital technology services, to NTT Data Services.)
In addition to letting businesses and consumers purchase its products online at Dell.com, Dell also provides procurement technology and web portals designed to let its business contract customers purchase its products. Its PremierConnect procurement system is designed to integrate with its customers’ enterprise resource planning, or ERP, systems; as customers place orders through PremierConnect, the system updates the financial and inventory records in their ERP system.
Dell also offers business customers its Premier Global Portal, a purchasing and technical support website personalized to the interests of individual corporate clients.
Dell also reported for the third quarter ended Oct. 28:
● An operating loss of $1.512 billion, compared with a year-earlier operating loss of $78 million;
● A net loss from continuing operations of $1.637 billion, compared with a net loss from continuing operations of $264 million;
● Non-GAAP net income from continuing operations of $970 million, up 230% from $294 million. It said the non-GAAP figures include financial results from EMC, which were not factored into the year-earlier net income figures.
GAAP, or generally accepted accounting principles, is the standard method by which U.S. companies report their financial figures.
For the nine months ended Oct. 28, Dell reported:
● Net revenue of $41.568 billion, up 8.7% from $38.232 billion a year earlier;
● An operating loss of $1.584 billion, compared with $488 million;
● A net loss from continuing operations of $2.323 billion, compared with a net loss from continuing operations of $1.0 billion.
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