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To: wfrazee who wrote (7459)	10/29/1997 10:37:00 AM
From: Rick	Respond to of 12454

Look how these guys do the SPLITS. ============ EMC Corporation Announces Record Results for Third Quarter, 2-for-1 Stock Split Revenue Up 33%, Net Income Up 47% on Growth of Open Storage HOPKINTON, Mass. -- October 21, 1997 -- EMC Corporation, the world's leading supplier of enterprise storage and retrieval technology, today reported record revenue and net income for the third quarter of 1997 and a 2-for-1 stock split in the form of a 100% stock dividend. EMC's revenue for the third quarter was a record $733 million, up 33% from the third quarter of 1996. Net income for the quarter was a record $133 million, up 47% compared with the third quarter of 1996. Earnings per share was a record $0.51, compared with $0.37 in the year-ago quarter. On the balance sheet, cash and investments reached nearly $1.5 billion at the end of the third quarter, almost double the level of a year ago. EMC also announced today a 2-for-1 stock split in the form of a 100% stock dividend. Shareholders of record on October 31, 1997, will be eligible. The distribution date is November 17, 1997. Michael C. Ruettgers, EMC President and CEO, said, "The third quarter was EMC's most successful ever in terms of the operating results brought about by the tremendous worldwide demand for EMC Enterprise Storage. Our growth rates and profitability continue to rise as we head into the fourth quarter, which is traditionally our strongest period. Through the first nine months of 1997, our revenue growth rate is nearly double what it was a year ago at this time, and our net income is up 42% compared with the first nine months of 1996." During the third quarter, EMC announced plans to more than double its worldwide manufacturing capacity to meet record demand, by building a new plant in Franklin, Mass., and expanding its plant in Cork, Ireland. Also during the quarter, Hewlett-Packard Company, a major EMC reseller partner, began shipping EMC Symmetrix 3000 Enterprise Storage systems with Fibre Channel connectivity to HP 9000 Enterprise Servers. "HP and EMC have seen very strong early demand and excellent customer acceptance of Symmetrix with Fibre Channel," said Ruettgers. "Fibre Channel will clearly provide tremendous advantages to customers as it becomes an established open standard for storage interconnect technology. Symmetrix is already the world's first and only enterprise-class storage system with Fibre Channel capabilities, and the only one supporting Fibre Channel simultaneously with SCSI and Escon connectivity in the same system. We will be broadening those capabilities in the weeks and months ahead." EMC Corporation, based in Hopkinton, Massachusetts, is the world's leading supplier of intelligent enterprise storage systems and software for mainframe and open systems environments. The company has offices worldwide, trades on the New York Stock Exchange under the symbol EMC, and is a component of the S&P 500 Index. For further information about EMC products and services, EMC's home page can be accessed on the World Wide Web at emc.com. This release contains statements about future growth that are "forward-looking statements" under the Federal Securities Laws. Actual results could vary materially and there can be no assurance that these plans will be achieved. Factors that could cause actual results to vary materially include, but are not limited to: component quality and availability, transition to new products, changes in business conditions, changes in EMC's sales strategy and product development plans, changes in the data storage marketplace, competition between EMC and other companies that are currently in or may be entering the data storage market, competitive pricing pressures, delays in the development of new technology, changes in customer buying patterns, one-time events and other important factors disclosed previously and from time to time in EMC's filings at the U.S. Securities and Exchange Commission. To see recent media coverage on this and other EMC announcements go to media watch. Note to editors: For further information about this release contact EMC Public Relations at pr@emc.com.