Dell Delays 10-Q

Dell delayed its third-quarter financial report Thursday, citing an ongoing probe of its accounting practices.

Dell is facing a formal investigation by the Securites and Exchange Commission and has received a subpoena from the Justice Department regarding the possibility of misstatements in prior financial periods.

As a result of questions raised in the investigations, Dell said it was unable to file its third-quarter 10-Q report with the SEC.

Dell initially postponed its press release detailing third-quarter results in November as a result of the accounting probe, releasing limited information about the results later that month and omitting the customary briefing with analysts.

The investigations are examining certain accounting and financial matters, including issues related to reserves and other balance sheet items that may affect its past financial results, Dell said.

The company said the investigations are ongoing and that no determination has been made about whether restatements will be necessary but that it could not predict whether any such restatements could materially affect past results.

Dell said it hopes to resolve the issues raised in the investigation and regain compliance with filing regulations as soon as possible.

Shares of Dell slipped 1.3%, or 34 cents, to $26.53 in extended trading.