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.

With all the hubbub about Dell Inc.'s (NASDAQ:DELL) poor performance over the recent calendar year, will the world's second-largest PC manufacturer turn in disappointing performance tomorrow when it releases quarterly results? Competitor Hewlett-Packard Co. (NYSE:HPQ) turned in what I consider to be absolutely solid results just last week, and during the middle of 2006 it over took Dell as the world's largest PC maker. HP also has its hands in many other profitable areas where Dell does no operate (printer/imaging and services.)

With that said, the consensus on the Street for Dell's latest quarterly performance is pegged at $0.31 EPS, as some analysts have taken higher estimates down in the face of some signs from the computer maker recently.

Yes, former Dell CEO Kevin Rollins was ousted just about a month ago and company founder Michael Dell has returned as CEO. Not only that, but Dell has gone on a hiring rampage and has hired some well-known executives from outside the industry (like Solectron's Mike Cannon and Motorola's Ron Garriques) to help bring fresh thinking into the company as well as help turn around this laggard ship of sort.

The big question I have here -- which I will delve into in another post -- is if Dell will re-examine its current business model and actually try to re-enter the retail store market for goose PC sales. Dell was in retail way back in the early 90s in an experiment, but left that sector and had not been back. Will it come back to retailers like Best Buy, Circuit City and CompUSA? Stay tuned for that one.

Until then, be sure and stay tuned to BloggingStock's Dell blog tomorrow at 5 p.m. EST for the liveblog of Dell's Q4 financial results. Maybe the company will drop a hint or two about its future plans. Will Dell meet, beat or fall short of analyst expectations tomorrow? Vote now.

Also check out some other earnings reports that we're following, and let us know what you're expecting.