21 Sep 09. Dell and Perot Systems have entered a definitive agreement for Dell to acquire Perot Systems in a transaction valued at approximately $3.9bn. Terms of the agreement were approved yesterday by the boards of directors of both companies. The acquisition will result in a compelling combination of two iconic information-technology brands. The expanded Dell will be even better positioned for immediate and long-term growth and efficiency driven by: Providing a broader range of IT services and solutions and optimizing how they’re delivered; Extending the reach of Perot Systems’ capabilities, including in the most dynamic customer segments, around the world; and, Supplying leading Dell computer systems to even more Perot Systems customers. Dell and Perot Systems share several key characteristics and our products, services and structures are overwhelmingly complementary. They have similarly strong, relationship-based business cultures. People in both organizations are recognized for helping customers thrive by using IT for greater effectiveness and productivity. The combination also provides some compelling opportunities for improved efficiency, which will benefit our customers even further.
Dell’s global commercial customer base spans large corporations, government agencies, health-care providers, educational institutions, and small and medium enterprises (SME). The company’s large existing services business includes breakthroughs in the concept and delivery of modular services, as well as expertise in infrastructure consulting and software-as-a-service. Dell is a leader in computer systems, including standards-based network servers, and in the fast-growing segment of data-storage hardware.
30 June 2009. Ricardo announces Results. Ricardo plc is a market leading engineering, management, automotive and transportation consultancy, employing over 1600 people worldwide. The company has centres in the UK, USA, Germany, Czech Republic, India, Japan and China and a global client list including the world’s major automotive OEMs, Tier 1 suppliers to OEMs, energy companies and governments. The results from continuing operations are now the primary performance measure for financial results used by Ricardo plc. Profit before tax for continuing operations was £15.7m (2008: £15.5m). The German exhaust business was held for sale at 30 June 2009 and has been reported under discontinued operations. It
incurred a loss before tax of £2.8m (before writing down assets held for sale by £3.8m to anticipated net sale proceeds). Therefore for continuing and discontinued operations combined, the profit before tax and writing down assets held for sale was £12.9m (2008: £14.7m).
Continuing operations:
• Order book level at £97m (June 2008: £97m)
• Revenue of £178.8m (June 2008: £181.9m)
• Profit before tax up 1% to £15.7m (June 2008: £15.5m)
• Tax charge of 6% (2008: 15%) due to further R&D tax credits
• Basic earnings per share up 13% to 28.8p (June 2008: 25.5p)
• Net debt at £3.5m (June 2008: £0.3m); minimal gearing maintained
• Full year dividend of 10.7p (June 2008: 10.6p)
• A strong result driven by our strong diversification strategy, headcount reduction and balance sheet management, despite a year of unprecedented falls in demand in global automotive markets.
Commenting on the results, Dave Shemmans, Chief Executive Officer said:
“Despite turbulence in the global markets we serve, the business has performed well in the last financial year, thanks to our diversification strategy, investment in facilities and research and development, a strong order book, robust working capital management and our resilient and talented team of employees. Whilst many of our customers are still cautious and we expect the economic environment to remain a challenge for some time, our key business drivers of tightening emissions and CO2 legislation remain and we are pressing ahead with our strategy to increase customer and sector spread supported b