/ Source: The Associated Press
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.