Video: Dell computes profits

updated 4/7/2005 10:48:55 AM ET 2005-04-07T14:48:55

Dell Inc. backed its guidance for the fiscal first quarter on Wednesday and said it expects annual sales to reach $80 billion in the next few years.

The computer maker said it continues to expect earnings of 37 cents per share on sales of $13.4 billion in the February-April period, matching current estimates in a survey of analysts by Thomson Financial.

Dell predicted that revenue will grow from $49 billion to $80 billion over the next three to four years. Analysts expect the company to post sales of $57.46 billion this year, $66.11 billion the next and $75.63 billion in fiscal 2008.

Dell also said it now plans to spend $2 billion to repurchase stock during the current quarter, more than doubling its original plan.

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