EMC Reports Healthy Quarter, Year
By Joseph F. Kovar, Computer Reseller News
Hopkinton, Mass
7:58 PM EST Wed., Jan. 26, 2000
EMC Corp. sales rose to $1.9 billion in the fourth
quarter, up 21 percent from the prior-year period,
rounding out a stellar year for the enterprise storage
vendor.
EMC, based here, earned $377 million for the quarter, up
38 percent from last year.
Earnings per share, excluding costs related to its
October acquisition of Data General Corp., jumped to 34
cents for the quarter, up from 25 cents per share a year
ago. With the acquisition costs, earnings per share were
19 cents.
Analysts had been expecting earnings per share of 31
cents, according to First Call.
For the year ended Dec. 31, EMC reported revenue of
$6.7 billion, up 24 percent from pro forma sales the prior
year, adjusted to include Data General's prior-year
revenue.
Income for the year reached $1.2 billion, about 50
percent over pro forma earnings the prior year. Earnings
per share were $1.07 for the year, compared with 73 cents
a year earlier.
EMC has been busy on the acquisition front since
closing the Data General deal.
In January, EMC executives said the company would pay $50 million for privately held
storage vendor Terascape Software Inc., Needham, Mass.
In addition, a month earlier, EMC agreed to pay $192 million in cash for Softworks Inc., a
global provider of enterprise data, storage and performance management software.
CRN
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