Dell 4Q profit dives as tech spending drops

ROUND ROCK, Texas -- Dell says its profit dove 48 percent during the fiscal fourth quarter as the recession forced consumers and businesses to spend less on technology.

Dell's earnings sank to $351 million, or 18 cents per share. Without certain charges, Dell would have earned 29 cents per share in the quarter that ended Jan. 30. Analysts polled by Thomson Reuters were looking for 26 cents per share.

Sales dropped 16 percent to $13.4 billion, missing expectations.

Dell Inc., based in Round Rock, Texas, is the world's second-largest computer maker behind Hewlett-Packard.