Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: blankmind who wrote (20777)	4/20/1999 8:50:00 AM
From: Jill	Respond to of 74651

EMC reported already, good news as expected--expect MSFT to beat # as usual later EMC Profits In Line, Repeats Rosy Outlook HOPKINTON, Mass. (Reuters) - EMC Corp. (NYSE:EMC - news), the leading maker of corporate data storage equipment, Tuesday reported first-quarter results in line with expectations and reiterated its rosy outlook for 1999. EMC said net income for the first quarter was $221 million, or 41 cents per diluted share, up 51 percent in net terms from the $146 million, or 28 cents per diluted share, recorded in the first quarter of 1998. The latest quarter was a penny ahead of the 40 cents analysts expected, according to First Call. Revenue grew to a $1.13 billion, 36 percent higher than the $828 million reported in the first quarter of 1998. The results marked the eighth straight quarter in which earnings and revenue both grew by more than 30 percent. Revenue from EMC's so-called Fibre Channel data storage systems, which link computer systems at faster speeds over greater distances with far greater capacity than traditional data storage, ''nearly doubled'' to $280 million in the quarter. EMC, a supplier of more than one-third of the world's corporate data storage equipment, repeated its credo that investors should expect a better than 30 percent annual growth rate in both earnings and revenue growth for the rest of 1999, citing surveys showing it is insulated from a possible corporate spending slowdown. EMC has been combating a dramatic fall in the value of its stock over the past week tied to renewed fears that storage sales could slow as customers focus on repairing potential Year 2000 glitches in existing equipment. The stock had plummeted to $101.44 Monday, down from nearly $133 a week ago.