Dell Technologies, announces financial results for its fiscal 2022 fourth quarter and full year, hit record full-year diluted earnings per share of $6.26, up 114%, and non-GAAP diluted earnings per share of $6.22, up 27%.
Full-year revenue was a record $101.2 billion, up 17% over the prior year, fueled by record demand, strong execution, continued growth across all business units, and record PC shipments.
The company generated record operating income of $4.7 billion, a 26% increase over the prior year, and record non-GAAP operating income of $7.8 billion, up 12%.
For the full year, both net income from continuing operations and non-GAAP net income were $4.9 billion. Cash flow from operations was $10.3 billion and cash flow from operations excluding VMware was a record $7.1 billion.
Full-year diluted earnings per share from continuing operations was $6.26, up 114%, and non-GAAP diluted earnings per share was $6.22, up 27%.
Fourth quarter revenue increased 16% to $28 billion. The company generated operating income of $1.6 billion, up 13%, and non-GAAP operating income of $2.2 billion, up 1%.
Net loss from continuing operations was $29 million, non-GAAP net income was $1.4 billion and adjusted EBITDA was $2.7 billion.
Cash flow from operations was $3.1 billion. Fourth quarter diluted loss per share was $0.04, and non-GAAP diluted earnings per share was $1.72, in each case resulting in part from a higher than anticipated effective tax rate in the quarter.
Dell also announced that its board of directors has approved a dividend policy under which the company intends to pay quarterly cash dividends on its common stock, with an initial dividend rate of $1.32 per share per year for fiscal 2023, or approximately $1 billion in aggregate.
The board has declared the initial quarterly dividend of $0.33 per share, which will be payable on April 29 to stockholders of record as of April 20.
“Fiscal 2022 was the best year in Dell Technologies history,” according to Jeff Clarke, Chief Operating Officer, and Vice-Chairman at Dell Technologies.
“We reached more than $100 billion in revenue and grew 17% – a huge achievement and ahead of our long-term growth targets.”
“For our customers, the biggest opportunity is to turn data into insight, action, and progress, and they are prioritizing investments in technology.”
Fourth Quarter and Full-Year Fiscal 2022 Financial Results
| Three Months Ended | Fiscal Year Ended | ||||||||||
| January 28, 2022 | January 29, 2021 | Change | January 28, 2022 | January 29, 2021 | Change | ||||||
(in millions, except per share amounts and percentages; unaudited) |
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| Total net revenue | $27,992 | $24,150 | 16% | $101,197 | $86,670 | 17% | |||||
| Operating income | $1,609 | $1,423 | 13% | $4,659 | $3,685 | 26% | |||||
| Net income (loss) from continuing operations | $(29) | $695 | (104)% | $4,942 | $2,245 | 120% | |||||
| Earnings (loss) per share from continuing operations attributable to Dell Technologies Inc. — diluted: | $(0.04) | $0.90 | (104)% | $6.26 | $2.93 | 114% | |||||
| Non-GAAP net revenue | $28,000 | $24,176 | 16% | $101,229 | $86,776 | 17% | |||||
| Non-GAAP operating income | $2,191 | $2,170 | 1% | $7,785 | $6,949 | 12% | |||||
| Non-GAAP net income | $1,390 | $1,362 | 2% | $4,924 | $3,746 | 31% | |||||
| Adjusted EBITDA | $2,686 | $2,620 | 3% | $9,660 | $8,645 | 12% | |||||
| Non-GAAP earnings per share – diluted | $1.72 | $1.76 | (2)% | $6.22 | $4.88 | 27% | |||||
Information about Dell Technologies’ use of non-GAAP financial information is provided under “Non-GAAP Financial Measures” below. All comparisons are year-over-year unless otherwise noted.
Dell Technologies ended the quarter with remaining performance obligations of $42 billion, up 20% year-over-year, deferred revenue of $27.6 billion, and cash and investments of $11.3 billion.
The company had net debt paydowns of $16.5 billion in fiscal 2022 and received an Investment Grade corporate family rating from all three major credit rating agencies.
(Learn More as Kyle Leciejewski provides an overview of Dell Technologies’ strategy, business performance, and investment focus areas. Courtesy of Kyle Leciejewski, Dell Technologies, and YouTube.)
Operating Segments:
Dell’s Client Solutions Group delivered record results, with revenue for the fourth quarter of $17.3 billion, up 26% year-over-year.
This performance was driven by $12.9 billion in commercial revenue – a 30% increase year-over-year – and $4.4 billion in consumer revenue – a 16% increase year-over-year.
Operating income was $1.2 billion, or approximately 6.7% of Client Solutions Group revenue.
For the full year, Client Solutions Group delivered record revenue of $61.5 billion, up 27% versus the prior year. Client Solutions Group full-year operating income was $4.4 billion, a 31% increase versus the prior year.
Key Areas of Innovation Include:
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Won 47 awards at CES, where Dell introduced the new XPS 13 Plus – a completely redesigned XPS that brings together modern design with more performance.
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Introduced the world’s thinnest gaming laptop (Alienware x14), the world’s first quantum dot OLED gaming monitor (Alienware 34 Curved QD-OLED gaming monitor), and the most powerful 17-inch AMD Advantage gaming laptop.
(Learn more about the world’s first Quantum Dot OLED gaming monitor which combines the impressive picture qualities of OLED with Quantum Dot technology to deliver a vibrant, life-like color performance including consistent color uniformity, wide color coverage, incredible brightness and improved OLED reliability. Courtesy of Alienware and YouTube.)
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Launched the latest UltraSharp video conferencing monitor, which features a 4K webcam, echo canceling microphones, and Microsoft Teams certification to provide the best collaboration and visual experience possible.
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Introduced Concept Luna, an advanced commercial notebook concept built around sustainability, recyclability, and reuse.
“In FY22, widespread digital transformation continued to accelerate growth in technology spend, and we are encouraged by growing demand across our entire portfolio,” said Chuck Whitten, co-chief operating officer, Dell Technologies.
“We also made strategic progress across multi-cloud, edge, as-a-Service and telecom. We launched solutions in these spaces, engaged customers, and made investments to position Dell for future growth.”
Dell’s Infrastructure Solutions Group revenue for the fourth quarter was $9.2 billion, up 3% year-over-year. Storage revenue was $4.5 billion, while servers and networking revenue was $4.7 billion – up 7% year-over-year.
Operating income was $1.1 billion or approximately 12% of Infrastructure Solutions Group revenue. For the full year, revenue was $34.4 billion, with operating income of $3.7 billion.
Key Areas of Innovation Include:
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Announced expansions to our APEX multi-cloud capabilities, enabling customers to move from multi-cloud by default to multi-cloud by design, as well as connect to multiple clouds without hyper-scale lock-in.
(Learn More. With Dell Technologies new multi-cloud experience, you have the flexibility to unveil your best ideas. Learn more at https://www.dell.com/en-us/dt/apex/index.htm. Courtesy of Dell Technologies and YouTube.)
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Introduced Dell PowerProtect Cyber Recovery for AWS (Amazon Web Services), giving organizations modern data protection to isolate critical data from a ransomware attack and accelerate data recovery.
“Last year we achieved a number of milestones that unleashed shareholder value,” added Tom Sweet, Chief Financial Officer, Dell Technologies.
“We generated cash flow of $10.3 billion, achieved investment-grade rating, and spun-off VMware.”
“We remain focused on executing our strategy to consolidate and modernize our core and build new growth engines that enable our customers’ multi-cloud future while delivering shareholder value.”
Announcing Dell Technologies World
Join Dell Technologies from May 2nd through May 5th in Las Vegas for Dell Technologies World, the company’s flagship event that brings together the latest trends, technology, and gurus.
(Dell Technologies’ flagship event is back in Las Vegas, packed with more tech than ever. From new, advanced Breakouts and Hands-on Labs to Interactive Demos and curated learning tracks, come ready to spark new ideas and gain actionable insights to fuel your next breakthrough. #DellTechWorld. Courtesy of Dell Technologies and YouTube.)
Over the course of the three-day event, customers and partners will explore the connected ecosystem of IT infrastructure, applications, devices, and security along with the company’s APEX and multi-cloud solutions that give customers greater flexibility to scale IT to meet business needs, transform and inspire the next breakthrough. To Register, click here.
Have you ever wondered if it’s possible to merge cloud and local management into a single objective? The answer to this question is positive, and all this was made possible thanks to Wyse Management Suite package from Dell.
It’s a flexible and hybrid cloud solution that allows IT administrators to safely manage Dell client devices from anywhere. View critical alerts and alerts, as well as send your teams in real time. IT department capacities will be optimized by increasing productivity and reducing end-user downtime. Use these hybrid cloud solutions to empower your IT.
Dell Technologies helps organizations and individuals build their digital future and transform how they work, live and play, by providing customers with the industry’s broadest and most innovative technology and services portfolio for the data era.
To Learn More, please visit www.dell.com/en-us.
Nominations Now Open for 2022 ‘ASTORS’ Homeland Security Awards Program
American Security Today’s Annual ‘ASTORS’ Awards is the preeminent U.S. Homeland Security Awards Program, and now entering its Seventh Year, continues to recognize industry leaders of Physical and Border Security, Cybersecurity, Emergency Preparedness – Management and Response, Law Enforcement, First Responders, as well as federal, state and municipal government agencies in the acknowledgment of their outstanding efforts to Keep our Nation Secure.
The Annual ‘ASTORS’ Awards highlight the most cutting-edge and forward-thinking security solutions coming onto the market today, to ensure our readers have the information they need to stay ahead of the competition and keep our Nation safe – one facility, street, and city at a time.
AST Honors Thomas Richardson, FDNY Chief of Department; Dr. Kathleen Kiernan, President of NEC National Security Systems; and Richard Blatus, FDNY Assistant Chief of Operations, at the 2021 ‘ASTORS’ Awards Luncheon at ISC East.
The United States was forever changed 20 years ago on September 11th, and we were fortunate to have many of those who responded to those horrific tragedies join us at the 2021 ‘ASTORS’ Awards Luncheon.
In the days that followed 9/11, the critical needs of protecting our country catapulted us into new and innovative ways to secure our homeland – which is how many of the agencies and enterprise organizations that are today ‘ASTORS’ Awards Champions, came into being.
Our 2021 keynote speaker featured a moving and informative address from TSA Administrator and Vice-Admiral of the United States Coast Guard (Ret), David Pekoske; to our attendees who traveled from across the United States and abroad, on the strategic priorities of the 64,000 member TSA workforce in securing the transportation system, enabling safe, and in many cases, contactless travel.
Legendary Police Commissioner William Bratton of the New York Police Department, the Boston Police Department, and former Chief of the Los Angeles Police Department was also live at the event, meeting with attendees and signing copies of his latest work ‘The Profession: A Memoir of Community, Race, and the Arc of Policing in America,’ courtesy of the generosity of our 2021 ‘ASTORS’ Awards Premier Sponsors.
The 2021 ‘ASTORS’ Awards Program was Proudly Sponsored by AMAROK, Fortior Solutions and SIMS Software, along with Returning Premier Sponsors ATI Systems, Attivo Networks, Automatic Systems, and Reed Exhibitions.
Nominations are currently being accepted for the 2022 ‘ASTORS’ Homeland Security Awards at https://americansecuritytoday.com/ast-awards/.
Comprehensive List of Categories Include:
| Access Control/ Identification | Personal/Protective Equipment | Law Enforcement Counter Terrorism |
| Perimeter Barrier/ Deterrent System | Interagency Interdiction Operation | Cloud Computing/Storage Solution |
| Facial/IRIS Recognition | Body Worn Video Product | Cyber Security |
| Video Surveillance/VMS | Mobile Technology | Anti-Malware |
| Audio Analytics | Disaster Preparedness | ID Management |
| Thermal/Infrared Camera | Mass Notification System | Fire & Safety |
| Metal/Weapon Detection | Rescue Operations | Critical Infrastructure |
| License Plate Recognition | Detection Products | COVID Innovations |
| Workforce Management | Government Security Programs | And Many Others to Choose From! |
Don’t see a Direct Hit for your Product, Agency or Organization?
Submit your category recommendation for consideration to Michael Madsen, AST Publisher at: mmadsen@americansecuritytoday.com.
In 2021 over 200 distinguished guests representing Federal, State and Local Governments, and Industry Leading Corporate Firms gathered from across North America, Europe and the Middle East to be honored among their peers in their respective fields which included:
- The Transportation Security Administration (TSA)
- ICE Homeland Security Investigations (ICE HSI)
- Customs & Border Protection (CBP)
- The Federal Protective Service (FPS)
- Argonne National Laboratory (ANL)
- DHS Science & Technology (S&T)
- The National Center for Disaster Medicine & Public Health (NCDMPH)
- The American Red Cross
- The InfraGard National Alliance
- The Metropolitan Police (MPD)
- The U.S. Fire Administration (USFA)
- Naval Postgraduate School Center for Homeland Defense and Security (CHDS)
- The Federal Air Marshals Service
- The San Diego Harbor Police Foundation, and Many More!
Corporate firms, the majority of which return year to year to build upon their record of accomplishment include:
AlertMedia, Allied Universal, AMAROK, ATI Systems, Attivo Networks, Axis Communications, Automatic Systems of America, BriefCam, Canon U.S.A., Fortior Solutions, guardDog.ai, Hanwha Techwin of America, HID Global, Mark43, IPVideo Corporation, Konica Minolta Business Solutions, Lumina Analytics, NEC National Security Systems, NICE Public Safety, OnSolve, PureTech Systems, Quantum Corporation, Rave Mobile Safety, Regroup Mass Notification, Robotic Assistance Devices, Rajant Corporation, SafeLogic, Senstar Corporation, ShotSpotter, Singlewire Software, SolarWinds Worldwide, Teledyne FLIR, Valor Systems, and Wiresecure, just to name a few!
Why American Security Today?
The traditional security marketplace has long been covered by a host of publications putting forward the old school basics to what is Today – a fast-changing security landscape.
American Security Today is uniquely focused on the broader Homeland Security & Public Safety marketplace with over 75,000 readers at the Federal, State, and local levels of government as well as firms allied to the government.
American Security Today brings forward a fresh compelling look and read with our customized digital publications that hold readers’ eyes throughout the story with cutting-edge editorial that provides solutions to their challenges.
Harness the Power of the Web – with our 100% Mobile Friendly Publications
AST Digital Publications are distributed to over 75,000 qualified government and homeland security professionals, in federal, state, local, and private security sectors.
‘PROTECTING OUR NATION, ONE CITY AT A TIME’
AST Reaches both Private & Public Experts, essential to meeting these new challenges.
Today’s new generation of public safety and security experts need real-time knowledge to deal with domestic and international terrorism, lone wolf attacks, unprecedented urban violence, shifts in society, culture, and media bias – making it increasingly difficult for Homeland Security, Law Enforcement, First Responders, Military and Private Security Professionals to implement coordinated security measures to ensure national security and improve public safety.
These experts are from Government at the federal, state, and local level as well as from private firms allied to the government.
AST provides a full plate of topics in our AST Monthly Magazine Editions, AST Website, and AST Daily News Alerts, covering 23 Vital Sectors such as Access Control, Perimeter Protection, Video Surveillance/Analytics, Airport Security, Border Security, CBRNE Detection, Border Security, Ports, Cybersecurity, Networking Security, Encryption, Law Enforcement, First Responders, Campus Security, Security Services, Corporate Facilities, and Emergency Response among others.
AST has Expanded readership into integral Critical Infrastructure audiences such as Protection of Nuclear Facilities, Water Plants & Dams, Bridges & Tunnels, and other potential targets of terrorism.
Other areas of concern include Transportation Hubs, Public Assemblies, Government Facilities, Sporting & Concert Stadiums, our Nation’s Schools & Universities, and Commercial Business Destinations – all enticing targets due to the large number of persons and resources clustered together.
(See just a few highlights of American Security Today’s 2021 ‘ASTORS’ Awards Presentation Luncheon at ISC East. Courtesy of My Pristine Images and Vimeo.)
To learn more about ‘ASTORS’ Homeland Security Award Winners solutions, please see the 2021 ‘ASTORS’ CHAMPIONS Edition Fully Interactive Magazine – the Best Products of 2021 ‘A Year in Review’.
The Annual CHAMPIONS edition includes a review of Annual ‘ASTORS’ Award Winning products and programs, highlighting key details on many of the winning firm’s products and services, including video interviews and more.
It serves as your Go-To Source throughout the year for ‘The Best of 2021 Products and Services‘ endorsed by American Security Today, and can satisfy your agency’s and/or organization’s most pressing Homeland Security and Public Safety needs.
From Physical Security (Access Control, Critical Infrastructure, Perimeter Protection, and Video Surveillance Cameras and Video Management Systems), to IT Security (Cybersecurity, Encryption, Data Storage, Anti-Malware and Networking Security – Just to name a few), the 2021 ‘ASTORS’ CHAMPIONS EDITION has what you need to Detect, Delay, Respond to, and Mitigate today’s real-time threats in our constantly evolving security landscape.
It also includes featured guest editorial pieces from some of the security industry’s most respected leaders, and recognized firms in the 2021 ‘ASTORS’ Awards Program.
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For a complete list of 2021 ‘ASTORS’ Award Winners, begin HERE.
For more information on All Things American Security Today, as well as the 2021 ‘ASTORS’ Awards Program, please contact Michael Madsen, AST Publisher at mmadsen@americansecuritytoday.com.
AST strives to meet a 3 STAR trustworthiness rating, based on the following criteria:
- Provides named sources
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