Computer maker Dell, Inc. (NASDAQ: DELL) is set to reveal Q3 earnings this Thursday. As such -- and for the first time since taking over the CEO post this past January -- CEO and company founder Michael Dell will be judged on his ability to get his company back on sales and profit tracks. Those tracks will be compared to the astounding success Mark Hurd has had while leading competitor Hewlett-Packard Co. (NYSE: HPQ) to greater profits, sales and operational efficiency during all of 2007.

Although prior quarters have been under Michael Dell's watch as well, the accounting scandal that rocked the company for nearly two years is pretty much over (although internally the SEC probe still lingers) and the company really has had several quarters now to implement rebound strategies and make the company grow again. Dell re-entered the retail space this summer to augment its direct-only sales model and make it more competitive with Hewlett-Packard, and a resurgent Acer in the consumer category. Additionally, it's made a stab into colored laptop products for the trend-conscious consumer crowd.

Dell's Q3 numbers are expected to land at an earnings figure of $0.35 per share, which would be a lift from the $0.30 EPS figure from the year-ago quarter. Expected revenue stands at $15.34 billion for the quarter as well, compared to $14.38 billion in 2006. Can Dell match (or beat) those expectations?

Most likely, yes. In the meantime, Hewlett-Packard won't stand still and will continue to slap Dell all around with growth rates in the mid-double figures, according to the company's guidance. Dell may grow slowly but surely, but its main competitor is still going for the jugular -- and winning.