TABLE A

1
2
3
4

DAILY SUPPLY OF INVENTORY

PARTICULARS
DELL COMPUTERS
APPLE COMPUTERS
COMPAQ COMPUTER
IBM

1993
55
52
72
64

1994
33
85
60
57

1995
32
54
73
48

EXHIBIT-1

DELLS ANNULA WORLDWIDE SALES DOLLAR GROWTH VERSUS INDUSTRY

CALENDER YEAR
DELL
INDUSTRY
1991
63%
-2%
1992
126%
7%
1993
43%
15%
1994
21%
37%
1995
52%
31%

EXHIBIT-2

WORKING CAPITAL FINANCIAL RATIO

DSI
Q193
Q293
Q393
Q493
Q194
Q294
Q394
Q494
Q195
Q295
Q395
Q495
Q196
Q296
Q396
Q496

EXHIBIT-3

DSO
40
44
47
55
55
41
33
33
32
35
35
32
34
36
37
31

DPO
54
51
52
54
58
53
53
50
53
49
50
47
47
50
49
42

CCC
46
55
51
53
56
43
45
42
45
44
46
44
42
43
43
33

48
40
48
56
57
51
41
41
40
40
39
35
39
43
43
40

% OF DELL COMPUTER SYSTEMS SALES BY MICROPROCESSOR

COMPUTER SYSTEM
FY 94
FY95
FY96
386 MODELS
7%
0%
0%
486 MODELS
92%
71%
25%
PENTIUM MODELS
1%
29%
75%

EXHIBIT-4 P & L STATEMENT

FISCAL YEAR
SALES
COST OF SALES
GROSS MARGIN
OPERATING EXPENSES

1996
5296
4229
1067
690

1995
3475
2737
738
489

1994
2873
2440
433
472

1993
2014
1565
449
310

1992
890
608
282
215

OPERATING INCOME
FINANCING & OTHER INCOME
INCOME TAX
NET PROFIT
EXHIBIT-5 BALANCE SHEET

CURRENT ASSSETS
CASH
SHORT TERM INVESTMENT
ACCOUNTS RECIEVABLES NET
INVENTORIES
OTHERS
TOTAL CURRENT ASSETS
FIXED ASSETS
PROPERTY,PLANT & EQUIPMNT
OTHERS
TOTAL FIXED ASSETS

377
6
111
272

249
-36
64
149

-39
0
-3
-36

YEAR ENDED
Jan-28
Jan-29
1996
1995

Jan-30
1994

55
591
726
429
156
1957

43
484
538
293
112
1470

3
334
411
220
80
1048

179
12
191

117
7
124

87
5
92

TOTAL ASSSETS
CURRENT LIABILITIES
ACCOUNT PAYABLE
ACCRUED AND OTHER
LIABILITIES
TOTAL CURRENT LAIBILITIES
LONG TERM DEBT
OTHER LIABILITIES

2148

1594

1140

TOTAL LIABILITIES
SHARE HOLDERS EQUITY
PREFFERED STOCK
COMMON STOCK
RETAINE D EARNINGS
OTHERS
TOTAL SHAREHOLDERS EQUITY

1175

942

6
430
570
-33
973

120
242
311
-21
652

2148

1594

466

403 NA

473
939
113
123

349 NA
752
113
77

538
100
31

669
NA
NA
NA
NA
471

1140

139
4
41
102

67
7
23
51

NOTES:
DSI(DAILY SALES OF INVENTORY)=NET INVENTORY/(QUATERLY COGS/90)
DSO(DAYS SALES OUTSTANDING)=NET ACCOUNT RECIEVABLES/(QUATERLY SALES/90)
DPO(DAYS PAYABLES OUTSTANDING)=ACCOUNTS PAYABLES/(QUATERLY COGS/90)
CCC(CASH CONVERSION CYCLE)=DSI+DSO-DPO