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

To: Gus who wrote (13766)	1/24/2002 8:04:36 AM
From: John Carragher	Read Replies (2) \| Respond to of 17183

Thursday January 24, 7:55 am Eastern Time EMC posts Q4 net loss as sales tumble HOPKINTON, Jan 24 (Reuters) - EMC Corp. (NYSE:EMC - news), the world's largest maker of data-storage systems, on Thursday reported its second consecutive quarterly net loss on sales that were cut 42 percent amid a pricing war with International Business Machines Corp. EMC said it posted a net loss of $70 million, or 3 cents a diluted share, for the fourth quarter that ended Dec. 31, compared with net income of $562.8 million, or 25 cents a diluted share, in the year-ago quarter. EMC's net loss was smaller than Wall Street estimates. Analysts were looking for EMC to lose 4 cents to 10 cents a share, with a consensus loss estimate of 7 cents a share, according to Thomson Financial/First Call. EMC Chief Executive Joe Tucci said the firm finished 2001 with momentum after a dismal third quarter when the company posted its first net loss in a dozen years. But some analysts worried that EMC had to cut prices sharply in the fourth quarter to remain competitive. The company's gross margin, as a percentage of revenue was 36.9 percent in the fourth quarter, compared with 59.2 percent in the year-ago period. EMC's key storage systems revenue tumbled to $842 million, down from $1.8 billion in the year-ago quarter. Software sales, which many see as EMC's future, dropped to $352 million from a year-ago level of $483 million. EMC's total consolidated revenue tumbled to $1.51 billion, down from $2.62 billion in the year-ago period. EMC's stock closed down $0.07, or 0.48 percent, to $14.56 Wednesday on the New York Stock Exchange. Its shares are down 82 percent in the past year. Em

To: Gus who wrote (13766)	1/24/2002 9:57:56 AM
From: Proud_Infidel	Read Replies (1) \| Respond to of 17183

EMC ahead of schedule on cost-cutting front BOSTON, Jan 24 (Reuters) - EMC Corp. (NYSE:EMC - news), the world's largest maker of data-storage systems, on Thursday said its cost-cutting plans were ahead of schedule, but customers remain cautious about spending for machines and software that store computer network traffic. EMC Chief Financial Officer Bill Teuber told analysts during a conference call that he expects information technology budgets among customers to be ``flat to down'' in 2002. ``This would indicate a sequential (revenue) decline in the (first quarter) from the (fourth quarter) of around 5 percent, or slightly more should customer caution continue,'' Teuber said.