EMC How high can it go? Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : EMC How high can it go?

EMC 29.05

0.0%

Sep 15 5:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Glenn Petersen who wrote (13331)	10/17/2001 8:55:24 AM
From: John Carragher	Read Replies (1) of 17183

EMC doesn't see profit till 2nd-qtr '02 BOSTON, Oct 17 (Reuters) - Faced with a steep downturn in business, EMC Corp., the No. 1 maker of data-storage systems, said on Wednesday it does not expect to return to profitability until the second quarter of next year. Before the market opened, EMC (NYSE:EMC - news) reported a third-quarter loss, its first in a dozen years. EMC Chief Financial Officer Bill Teuber told analysts on a conference call that the company should become profitable again in the second quarter next year, but could return to profitability sooner. Teuber said EMC would need to record $1.7 billion in revenues for the current fourth quarter in order to reach breakeven. That figure is down from $1.8 billion in the third quarter. EMC Executive Chairman Michael Ruettgers told analysts that the data-storage industry is slowing a lot faster than people think.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next