EMC revenue rises to $2B in Q3

Its revenue was up 34% from a year earlier

By Todd R. Weiss

October 19, 2004 12:00 PM ET

Computerworld - Storage vendor EMC Corp. today announced third-quarter 2004 revenue totaling $2.03 billion, up 34% from the $1.5 billion the company reported in the same quarter one year earlier.
Net income for the quarter, which ended Sept. 30, was $218 million, or 9 cents per diluted share, up 37% from the $159 million, or 7 cents per diluted share, the Hopkinton, Mass.-based company earned a year earlier.
"We again achieved solid, balanced performance in a spending environment that continues to improve at a steady but modest pace," EMC President and CEO Joe Tucci said in a statement.
Overall, EMC's core revenue rose 19%, the company said. That doesn't include growth attributed to the acquisitions of VMware, Documentum and Legato. VMware, an EMC subsidiary, delivered record quarterly revenue of $61 million during the period, an increase of more than 200% over the third quarter of 2003.
Systems revenue for EMC grew 18% compared with the year-earlier quarter, while software license revenue increased 56%.
The newly formed EMC Software Group, which markets and develops platform-independent information storage and content management software, delivered consolidated revenue of $351 million.
EMC services revenue grew 48% compared to a year earlier, due to the impact of the company's software vendor acquisitions, increased core software maintenance revenue and continued customer demand.
The company predicted fourth-quarter consolidated revenue of between $2.23 billion and $2.27 billion, with diluted earnings per share of 11 cents to 12 cents.

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