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<PAGE> 1
================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
FOR THE FISCAL YEAR ENDED FEBRUARY 1, 1998
COMMISSION FILE NUMBER: 0-17017
DELL COMPUTER CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 74-2487834
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
ONE DELL WAY, ROUND ROCK, TEXAS 78682-2244
(Address, including Zip Code, of registrant's principal executive offices)
(512) 338-4400
(Registrant's telephone number, including area code)
SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT:
Common Stock, par value $.01 per share
Preferred Stock Purchase Rights
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes [X] No [ ]
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. [ ]
AGGREGATE MARKET VALUE OF COMMON STOCK HELD BY
NON-AFFILIATES OF THE REGISTRANT AS OF MARCH 31, 1998..... $36,352,865,736
NUMBER OF SHARES OF COMMON STOCK OUTSTANDING AS OF MARCH 31,
1998...................................................... 640,316,904
================================================================================
<PAGE> 2
PART I
ITEM 1 - BUSINESS
GENERAL
Dell Computer Corporation (the "Company") designs, develops, manufactures,
markets, services and supports a wide range of computer systems, including
desktops, notebooks, workstations and network servers, and also markets
software, peripherals and service and support programs. With revenue of $12.3
billion for fiscal 1998 (which ended on February 1, 1998), the Company is the
world's leading direct computer systems company and one of the top three
computer systems companies in the world.
The Company is a Delaware corporation that was incorporated in October 1987,
succeeding to the business of a predecessor Texas corporation that was
originally incorporated in May 1984. Based in Round Rock, Texas, the Company
conducts operations worldwide through wholly-owned subsidiaries. See "Item
1 -- Business -- Geographic Areas of Operations" below. Unless otherwise
specified, references herein to the "Company" are references to the Company and
its consolidated subsidiaries. The Company operates in one principal industry
segment.
The Company's common stock, par value $.01 per share, is listed on The Nasdaq
National Market under the symbol "DELL." See "Item 5 -- Market for Registrant's
Common Equity and Related Stockholder Matters -- Market Information" below.
BUSINESS STRATEGY