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<<CEO on CNBC>>..EMC Executive Says Business To Resume Clip Later In Yr
NEW YORK (Dow Jones)--While EMC Corp.'s (EMC) business may slow down slightly
at the start of 1999, Chief Executive Michael Ruettgers expects business to resume a
quick clip in the second half of the year.
In an interview with CNBC Tuesday, Ruettgers said, "Expect a carbon copy of 1998."
The Hopkinton, Mass., firm reported earlier Tuesday fourth-quarter earnings of 48 cents
a share, beating both year-ago levels of 32 cents and Wall Street's estimate of 46 cents.
EMC posted $1.2 billion in revenue, up from $873.4 million a year ago. The company,
which provides enterprise storage systems, software and services, boasts seven
consecutive quarters with both revenue and net income growth of more than 30%, on a
year-to-year basis.
Revenue from software grew about 150% in the fourth quarter compared with year-ago
levels, Ruettgers said, adding "we're the fastest growing major software company."
-Jessica Madore Fitch; 201-938-5172 |
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