Dell 1997 Annual Report Download - page 30

Income before extraordinary loss..................... $ 188 $ 149 $ 112 $ 82
Net income........................................... $ 188 $ 145 $ 103 $ 82
Income before extraordinary loss per common share(a):
Basic(b)........................................... $ 0.28 $ 0.22 $ 0.15 $ 0.11
Diluted(c)......................................... $ 0.25 $ 0.20 $ 0.14 $ 0.10
Weighted average shares outstanding(a):
Basic.............................................. 673 700 716 727
Diluted............................................ 744 763 783 783
Stock sales prices per share(a):
High............................................... $ 18 3/32 $ 11 3/32 $ 7 5/32 $ 5 27/32
Low................................................ $ 9 29/64 $ 6 33/64 $ 5 3/64 $ 3 5/16
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(a) Earnings per common share are computed independently for each of the
quarters presented. Therefore, the sum of the quarterly per common share
information may not equal the annual earnings per common share. All share,
per share and stock price information has been retroactively restated to
reflect the two-for-one split of the common stock in March 1998 and July
1997.
(b) Excludes extraordinary loss of $0.01 and $0.01 basic earnings per common
share for the third and second quarter, respectively, of fiscal 1997.
(c) Excludes extraordinary loss of $0.01 and $0.01 diluted earnings per common
share for the third and second quarter, respectively, of fiscal 1997.
NOTE 14 -- SUBSEQUENT EVENT
In March 1998, the Company filed a registration statement with the U.S.
Securities and Exchange Commission related to $500 million of debt securities.
Presently, no securities under this registration are issued or outstanding.
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PART III
ITEM 10 -- DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT
BOARD OF DIRECTORS
The Company's Board of Directors is separated into three classes, and the
directors in each class are elected to serve for three-year terms. The terms of
the Class I directors expire at the next annual meeting of stockholders
(currently scheduled for July 17, 1998), the terms of the Class II directors
expire at the annual meeting of stockholders to be held in 1999 and the terms of
the Class III directors expire at the annual meeting of stockholders to be held
in 2000. The following is a list of the persons who, as of April 1, 1998,
constituted the Company's Board of Directors and their ages, director class
designation and committee assignments as of that date.
DIRECTOR
NAME AGE CLASS COMMITTEES
---- --- -------- ----------
Michael S. Dell........................ 33 II --
Donald J. Carty........................ 51 I Audit, Finance (Chairman), Nominating
Paul O. Hirschbiel, Jr................. 45 I Compensation, Finance
Michael H. Jordan...................... 61 II Compensation, Nominating (Chairman)
Thomas W. Luce III..................... 57 I Finance
Klaus S. Luft.......................... 56 II Audit, Finance
Claudine B. Malone..................... 61 III Audit (Chairman)
Alex J. Mandl.......................... 54 III Compensation
Michael A Miles........................ 58 III Compensation (Chairman), Nominating
Set forth below is biographical information about each of the Company's
directors.
Michael S. Dell -- Mr. Dell has been Chairman of the Board, Chief Executive
Officer and a director of the Company since May 1984. Mr. Dell founded the
Company in 1984 while attending the University of Texas at Austin. He is a
member of the Board of Directors of the United States Chamber of Commerce and
the Computerworld/Smithsonian Awards. Mr. Dell serves on the nominating
committee for the National Technology Medal of Honor and is an advisor to the
Innovative Technology Management Association at the University of Texas at
Austin.
Donald J. Carty -- Mr. Carty has been a director of the Company since December
1992. Mr. Carty is President of American Airlines, Inc., a subsidiary of AMR
Corporation, and President of AMR Airline Group, positions he has held since
March 1995. He is also Executive Vice President of AMR Corporation. From October
1989 to March 1995, Mr. Carty held the positions of Chief Financial Officer of
AMR Corporation and Executive Vice President, Finance & Planning for AMR
Corporation and American Airlines, Inc. He has held senior vice presidential