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Technology Stocks : EMC How high can it go? -- Ignore unavailable to you. Want to Upgrade?

To: Gus who wrote (12926)	7/23/2001 7:00:09 AM
From: Ibexx	Read Replies (1) \| Respond to of 17183

Monday July 23, 3:21 am Eastern Time EMC sees over 20 pct sales, profit growth SINGAPORE, July 23 (Reuters) - EMC Corp, the world's number one data storage firm, said it expects to expand revenues and profits by over 20 percent in the medium term, as information storage and management needs continue to grow. ``We expect the global storage market to grow by 20 percent in the next four to five years, and EMC, from a long-term perspective, should show above 20 percent growth in both revenues and profits in three to five years,'' Frank Hauck, EMC's executive vice president of global sales, told Reuters in an interview. Hauck said he expects to grow EMC's international sales -- comprising Latin America, Europe, Middle East, Africa and Asia Pacific -- to 60 percent of group revenues in the next few years, compared with 43 percent currently and 34 percent 18 months ago. ``We aim to grow our international sales to 60 percent of our total revenues in three to four years time,'' he added, pointing to the exponential growth in sectors such as telecommunication and financial services in markets outside of the United States. Steve Querner, vice president for sales in the Asia Pacific, told Reuters the Asia Pacific was EMC's fastest-growing region. ``Two years ago, the Asia Pacific accounted for 6.5 percent of total revenues. This year, we expect that figure to exceed 10 percent,'' Querner noted. He added that although the Asian region was seeing a slowdown in economic growth, this was a temporary phenomenon compared to the ``information technology explosion'' that was continuing. Ibexx