An investigation into its accounting practices has forced Dell to delay its financial results. The firm said that the delay was the result of an investigation by US financial regulator the Securities and Exchange Commission (SEC).
Dell, the world's largest PC maker, said that it may have misstated financial reports in the past and says it is co-operating with the investigation. A Dell spokesman said that it was the first time that the 22-year-old company had missed the filing of quarterly results.
"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," said a statement from company founder and chairman Michael Dell. "We will take any appropriate remedial or corrective actions to address any problems."
The investigation, described by the company as "informal", has been going on for a year. It began as an investigation into the timing of Dell's revenue booking but now looks to be casting its net more widely.
In addition to the SEC investigation the company now says that the US Attorney for the Southern District of New York has subpoenaed documents relating to the firm's financial reporting since 2002.
The SEC investigation could involve problems with "accruals, reserves and other balance sheet items that may affect the company's previously reported financial results," it said. Dell shares dropped just over 2% on the announcement.
The delay of the financial report continues a turbulent year for Dell, whose financial performance has been unfavourably compared to that of a resurgent Hewlett-Packard. The company has also had to contend with the negative press surrounding a recall of 4.1 million laptop batteries.
That recall was the largest ever in electronics history and followed the publishing of videos showing Dell laptop batteries overheating on video sites such as YouTube. Some airlines even specifically banned Dell laptops out of concern for passenger safety.
Dell said that it did not yet know when it would report the most recent results.
