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Technology Stocks : Veritas (VRTS)

VRTS 159.59

-0.4%

Nov 28 9:30 AM EST

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To: puborectalis who wrote (509)	7/5/2001 6:00:37 PM
From: chojiro	Read Replies (1) of 742

EMC Warns Earnings, Sales to Fall Short HOPKINTON, Mass. (Reuters) - Data storage giant EMC Corp.(NYSE:EMC - news) on Thursday warned that its revenues and earnings for the second quarter would fall well short of Wall Street estimates due to the global slowdown in technology spending. EMC said it expected its second quarter revenues to be about $2 billion, and earnings per share to be in the range of 4 cents to 6 cents a share. That compared with the Wall Street consensus for earnings of 17 cents a share and revenues of $2.43 billion. ``The earnings results for EMC's major customers -- the bulk of the S&P 500, for example -- have been like a ball rolling down a hill for each of the past three quarters. When our customers earn less money, most of them have less to spend on IT, and they take a longer time to spend what they do have,'' said EMC Chief Executive Joe Tucci.

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