Dell to delay filing second-quarter report

Computer maker Dell  has announced a delay in filing its fiscal second-quarter report after suspending a share repurchase programme…

Computer maker Dell  has announced a delay in filing its fiscal second-quarter report after suspending a share repurchase programme due to previously disclosed accounting inquiries.

The world's biggest PC maker also said the US Attorney for the Southern District of New York had subpoenaed documents related to its financial reporting from 2002 to the present.

The company said it cannot file the second-quarter financial report because of "questions raised" in connection with an informal Securities and Exchange Commission investigation into accounting issues and a subsequent internal investigation.

The investigations have shown that Dell may have mis-stated prior financial reports, including issues relating to accruals, reserves and other balance sheet items, which may affect previously reported financial results, the company said in its statement.

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"We are fully co-operating with the investigations and working to resolve any and all issues raised in connection with those investigations as quickly as possible, and we will take any appropriate remedial or corrective actions to address any problems," Chairman Michael Dell said in a statement.

The company has not yet determined the material impact of any of the accounting issues.

Dell's shares dropped 80 cents, or 3.7 per cent, to $20.85 in premarket trading.

AP