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

To: dennis michael patterson who wrote (5757)	4/20/1999 7:46:00 AM
From: Steve Hufnagle	Read Replies (1) \| Respond to of 17183

I wonder if the analyst at NationsBanc Montgomery Securities will change this stock's rating to "buy" from "hold"?

To: dennis michael patterson who wrote (5757)	4/20/1999 8:03:00 AM
From: SDR-SI	Respond to of 17183

Dennis: Not only is Mike Reuttgers a tough guy with good credibility, he is surrounded by tough guys with good credibility, all of whom know that the company is selling three things: Functionality, reliability and credibility. They also know that if they don't perform to the company's extremely high standards (or at least if they don't realize it and make others aware of it early in the game) they won't be there. To be able to make the future predictions that have been and will continue to be made, the CEO must have full confidence that every member of the team is as sure of their own performance as he is. Although the Y2K statement addresses the current hub-bub, it is essentially no different than his former remarks on the subject. No doubt certain analysts will today be able to reliably state their targets for yesterday's closing price. Steve

To: dennis michael patterson who wrote (5757)	4/20/1999 8:11:00 AM
From: Ibexx	Read Replies (2) \| Respond to of 17183

dennis and thread, Earnings out: ______ EMC Reports Revenue Up 36%, Net Income Up 51% in First Quarter Sharply Higher Demand Seen As Customers Build Internet Infrastructures Around EMC Enterprise Storage HOPKINTON, Mass. - April 20, 1999 - EMC Corporation (NYSE:EMC), the world's leading provider of enterprise storage systems, software and services, today reported strong increases in net income and revenue for the first quarter of 1999. Revenue for the first quarter was $1.13 billion, 36% higher than the first quarter of 1998. Net income for the quarter was $221 million, up 51% compared with the first quarter of 1998. On a diluted basis, earnings per share were $0.41 in the quarter, compared with $0.28 in the first quarter of 1998. Statements of Income and Balance Sheets (Consolidated) Michael C. Ruettgers, EMC President and CEO, said, "We are delighted to report that, for the eighth consecutive quarter, both revenue and net income grew by more than 30% on a year-to-year basis. Our 51% increase in net income reflects continued gross margin expansion resulting from the dramatic growth of our software revenue." "We understand there are concerns throughout the information technology industry about the potential impact of the Year 2000 date change on IT spending patterns later this year," Ruettgers continued. "EMC tracks customer spending plans very closely through extensive formal surveys and constant customer dialogue. The evidence we have collected in recent months points to continued robust demand throughout the year, and indicates that there will not be a slowdown in spending for EMC storage products during 1999. We are reiterating our previous forecast of greater than 30% growth in both revenue and net income for 1999. The explosion of both online and traditional data, and its increasing relevance to an organization's ability to conduct business and grow, shows no sign of diminishing. " "The opportunity ahead for EMC has never been greater," continued Ruettgers. "Every major trend in information technology creates more information. Every mouseclick on the Internet retrieves or creates data. The need to store and access it day and night is making EMC Enterprise Storage a must-have foundation for any major information infrastructure. We believe we are still at the beginning of the demand that the new Internet economy will generate for enterprise storage." EMC's leadership in Fibre Channel connectivity continued to expand during the first quarter. Revenue from Fibre Channel-attached systems was nearly $280 million in the quarter, double the year-ago level. EMC has now shipped more than $1.1 billion in Symmetrix Enterprise Storage systems with Fibre Channel connectivity since first offering this technology in late 1997. Highlights of the first quarter included the introduction of the EMC Enterprise Storage Network (ESN), the world's first integrated, enterprise-class storage network solution, including the EMC Connectrix system and management software, new larger-capacity Symmetrix Enterprise Storage systems, and ESN Professional Services. (View the re-Webcast of the ESN announcement) Also during the quarter, EMC announced a 2-for-1 stock split, subject to stockholder approval of an increase in the number of shares of authorized common stock at the Company's Annual Meeting of Shareholders to be held May 5, 1999; EMC formed the FibreAlliance, a group of leading providers of Fibre Channel-based products working together to develop and implement common methods for managing heterogeneous storage networks based on Fibre Channel technology; EMC and IBM announced a technology and business alliance that expands an existing relationship; and EMC was named one of America's five best performing companies by both BUSINESS WEEK and BARRON'S. EMC Corporation, based in Hopkinton, Massachusetts, is the world's technology and market leader in the rapidly growing market for intelligent enterprise storage systems, software and services. The company's products store, retrieve, manage, protect and share information from all major computing environments, including UNIX, Windows NT and mainframe platforms. 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 and its storage solutions, EMC's corporate web site can be accessed at emc.com. Have a great day, Ibexx