EMC top stock pick for '92
12/30/91
Business Wire
(Copyright (c) 1991, Business Wire)
HOPKINTON, Mass.--(BUSINESS WIRE)--EMC Corp.
(NYSE:EMC) has been named by Presidio Management partner, Mr.
Van Brady as his 1992 choice in the Forbes Magazine, ``Pick Just One,''
stock contest.
Mr. Brady was the top finisher in the 1991 competition and has chosen
EMC to defend his title in '92.
Merrill Lynch & Co., also named EMC as one of six technology stocks
that they feel will do well in the coming year. In Merrill's ``The Year
Ahead'' report the company is described as a company that: ``...will have
a complete family of disk arrays at a time when other companies will be
first entering this expanding market.'' The Massachusetts based storage
manufacturer is the first company to offer high performance, high capacity,
cached, disk array products for IBM and Unisys mainframe computers.
The storage systems are marketed under the name, Symmetrix.
EMC had revenues of $171 million in 1990 and anticipates revenues of
between $230-$240 million for 1991, a growth rate of over 30 percent.
According to the Merrill Lynch report: ``Since EMC will have made a
transition from a memory board enhancement company to the leading
purveyor of a `hot' new technology, we believe that the price/earnings
ratio will begin to expand as the company is able to demonstrate continued
earnings progress during 1992.''
According to EMC President and CEO, Michael C. Ruettgers; ``What
has caught the attention of the financial community is EMC's ability to
bring the latest technology to market well ahead of its competitors. The
result is solid to be at least two years ahead of any of its competitors in
disk array technology.
EMC pioneered in the development of Integrated Cached Disk Array
Technology (ICDA), the practical implementation of a theory developed in
the late eighties which calls for the replacement and emulation of single
stated Ruettgers, ``this technology offers computer users much greater
speed, capacity and reliability and often allows them to delay having to
purchase larger, or additional processors.''
EMC plans to announce two additions to its Symmetrix product line in
1992 and will also offer a storage system for IBM midrange computers
that incorporates elements of its ICDA technology. EMC will also bring
several more improved versions of traditional storage products to the
market in 1992.
EMC Corp. supplies innovative, high-performance, storage products and
related services for mainframe and midrange computers worldwide.
CONTACT: EMC Corp., Hopkinton John J. Ryan, 508/435-1000 09:43
ET |
