EMC Sees Revenues Jump by 35 Percent
EMC reports first-quarter revenue of $1.87 billion, thanks in part to its acquisitions of Legato, Documentum and VMWare.Fueled by its recent acquisitions of Legato Software, Documentum Inc. and VMWare Inc., storage behemoth EMC Corp. reported on Thursday first-quarter revenue of $1.87 billion, a 35 percent jump from $1.38 billion for the same quarter one year ago. EMCs net income for the quarter stood at $140 million. That figure is up from $35 million recorded for the first quarter of 2003, according to officials at Hopkinton, Mass., company. "The first quarter marked EMCs highest revenue growth rate in nearly three years, measured with or without the inclusion of our recent acquisitions," Joe Tucci, EMC president and CEO, said in a statement.
Tucci offered high praise for EMCs new independent software divisions, Documentum, Legato and VMWare, saying they play pivotal roles in supporting customers march toward disk-based recovery storage offerings, interest in virtualization and heavy use of digital content.
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