EMC Reports Ninth Straight Quarter of Double-Digit Earnings

 
 
By Chris Preimesberger  |  Posted 2012-04-19 Email Print this article Print
 
 
 
 
 
 
 

The Hopkinton, Mass.-based corporation reported consolidated Q1 2012 revenue of $5.1 billion, up 11 percent from 2011, and net income of $587 million, up 23 percent.

EMC, nothing if not consistent in its financial reports during the last several years, on April 19 turned in its ninth consecutive quarter of double-digit, year-over-year growth in terms of revenue, net income and earnings per share. 

The Hopkinton, Mass.-based corporation reported consolidated Q1 2012 revenue of $5.1 billion, up 11 percent over 2011; GAAP (generally accepted accounting practices) net income of $587 million, up 23 percent; and GAAP earnings per weighted average diluted share increased 29 percent to 27 cents per share.

 

CFO David Goulden told analysts on a conference call: "EMC is on track to attain a record $28 billion in consolidated revenue by 2014, which would represent compound annual revenue growth of 13 percent from 2010."

EMC's corporate ownership includes such companies as virtualization software market leader VMware, storage providers Data Domain and Isilon, big data analytics provider Greenplum, RSA Security and content management vendor Documentum.

Burgeoning sales of storage, cloud system administration software, and new-generation securityware are a few of the key drivers in EMC's steady financial success.

"We are in a time of unprecedented IT and business transformation, propelled by the benefits of cloud computing, big data and trust," EMC Chairman and Chief Executive Officer Joe Tucci said on the call. "EMC is off to a strong start to 2012 and is exceptionally well-positioned to help customers take advantage of these major transformational shifts."

In individual product categories, EMC reported strong demand for mid-tier storage products, which increased revenue 26 percent year-over-year.  The company's Isilon scale-out network-attached storage business nearly doubled its revenue year-over-year, and its VNX unified storage family, backup recovery systems portfolio and Greenplum database product each delivered strong year-over-year revenue growth. 

Also during the quarter, EMC's RSA Information Security business increased revenue by 19 percent, and revenue from VMware grew 25 percent

 
 
 
 
Chris Preimesberger Chris Preimesberger was named Editor-in-Chief of Features & Analysis at eWEEK in November 2011. Previously he served eWEEK as Senior Writer, covering a range of IT sectors that include data center systems, cloud computing, storage, virtualization, green IT, e-discovery and IT governance. His blog, Storage Station, is considered a go-to information source. Chris won a national Folio Award for magazine writing in November 2011 for a cover story on Salesforce.com and CEO-founder Marc Benioff, and he has served as a judge for the SIIA Codie Awards since 2005. In previous IT journalism, Chris was a founding editor of both IT Manager's Journal and DevX.com and was managing editor of Software Development magazine. His diverse resume also includes: sportswriter for the Los Angeles Daily News, covering NCAA and NBA basketball, television critic for the Palo Alto Times Tribune, and Sports Information Director at Stanford University. He has served as a correspondent for The Associated Press, covering Stanford and NCAA tournament basketball, since 1983. He has covered a number of major events, including the 1984 Democratic National Convention, a Presidential press conference at the White House in 1993, the Emmy Awards (three times), two Rose Bowls, the Fiesta Bowl, several NCAA men's and women's basketball tournaments, a Formula One Grand Prix auto race, a heavyweight boxing championship bout (Ali vs. Spinks, 1978), and the 1985 Super Bowl. A 1975 graduate of Pepperdine University in Malibu, Calif., Chris has won more than a dozen regional and national awards for his work. He and his wife, Rebecca, have four children and reside in Redwood City, Calif.Follow on Twitter: editingwhiz
 
 
 
 
 
 
 

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