April 17, 2007
EMC keeps double-digit streak alive
By Matthew L. Brown
Hopkinton-based EMC Corp. reported first quarter 2007 net income of $312.6 million.
The corporate data storage company said profits for the quarter beat the first quarter of 2006 by 15 percent thanks to growth in its Asia Pacific and Japanese operations.
Revenue for the first quarter jumped 17 percent compared to the previous year from $2.98 billion from $2.55 billion.
The first quarter of 2007 was the 15th consecutive quarter of double-digit revenue growth, the company said.
Revenue from customers outside North America increased by 18 percent over the first quarter of 2006, driven by customers in Europe, the Middle East, Africa and the Asia Pacific region, EMC said.
Also in the first quarter, EMC spent $489 million to repurchase 35 million shares of company stock as part of a plan to repurchase $1 billion in company stock.
The company also announced its intention to sell about 10 percent of subsidiary VMware, a software maker, through an initial public offering.
The corporate data storage company said profits for the quarter beat the first quarter of 2006 by 15 percent thanks to growth in its Asia Pacific and Japanese operations.
Revenue for the first quarter jumped 17 percent compared to the previous year from $2.98 billion from $2.55 billion.
The first quarter of 2007 was the 15th consecutive quarter of double-digit revenue growth, the company said.
Revenue from customers outside North America increased by 18 percent over the first quarter of 2006, driven by customers in Europe, the Middle East, Africa and the Asia Pacific region, EMC said.
Also in the first quarter, EMC spent $489 million to repurchase 35 million shares of company stock as part of a plan to repurchase $1 billion in company stock.
The company also announced its intention to sell about 10 percent of subsidiary VMware, a software maker, through an initial public offering.
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