Looks like EMC beat their number by 2c. Cooters
EMC 4th-Qtr Profit Rises 49% on Computer Data-Storage Growth
Hopkinton, Massachusetts, Jan. 23 (Bloomberg) -- EMC Corp., the No. 1 maker of corporate data-storage systems, said fourth- quarter profit rose 49 percent on surging sales of its devices and software to house information generated by the Internet.
Net income rose to $562.9 million, or 25 cents a share, from profit from operations of $376.5 million, or a split-adjusted 17 cents, a year earlier, the company said in a statement. Revenue rose 40 percent to $2.62 billion from $1.88 billion.
EMC's products let corporations store and manage reams of information from databases, e-mail and software programs. Some analysts had been concerned that a slowdown in corporate spending might curb EMC's profit in the quarter, when computer-related companies from Intel Corp. to Compaq Computer Corp. to Microsoft Corp. said slowing economic growth hurt their businesses.
The shares of Hopkinton, Massachusetts-based EMC fell 81 cents to $76.50 yesterday. They have fallen 27 percent from a record $104.94 on Sept. 25.
EMC was expected to report 23 cents a share, the average estimate of analysts polled by First Call/Thomson Financial.
A charge of $169.9 million, or 8 cents a share, in the year- earlier quarter made net income $206.6 million, or 9 cents.
Jan/23/2001 7:25 ET |
