July 24, 2007
Systems, software, services spell success for EMC
By Cory Hopkins
Double-digit revenue growth in its systems, software and services businesses led to record second-quarter revenue for Hopkinton-based EMC Corp., the company said today.
EMC reported $3.12 billion in total consolidated revenue for the second quarter of 2007, up 21 percent over the $2.57 billion reported for the same period last year.
GAAP net income stood at $334.4 million for the most recent quarter, or $0.16 per share, up 33 percent over 2006.
EMC systems revenue represented 43 percent of total second-quarter revenue, and posted an 18 percent year-over-year gain. Software license and maintenance revenue, accounting for 41 percent of total quarterly revenue, saw a 27 percent year-over-year increase. Systems maintenance and other services revenue grew by 18 percent over 2006, and represented 16 percent of total revenue for the quarter.
David Goulden, executive vice president and CFO at EMC, said the company is on track to exceed annual targets set in the beginning of the year. The company predicts consolidated revenue for the year to top out at $12.7 billion, with GAAP diluted earnings per share expected to exceed $0.64.
"It is clear that we are in a sweet spot of the IT industry," said Joe Tucci, company chairman, president and CEO.
EMC reported $3.12 billion in total consolidated revenue for the second quarter of 2007, up 21 percent over the $2.57 billion reported for the same period last year.
GAAP net income stood at $334.4 million for the most recent quarter, or $0.16 per share, up 33 percent over 2006.
EMC systems revenue represented 43 percent of total second-quarter revenue, and posted an 18 percent year-over-year gain. Software license and maintenance revenue, accounting for 41 percent of total quarterly revenue, saw a 27 percent year-over-year increase. Systems maintenance and other services revenue grew by 18 percent over 2006, and represented 16 percent of total revenue for the quarter.
David Goulden, executive vice president and CFO at EMC, said the company is on track to exceed annual targets set in the beginning of the year. The company predicts consolidated revenue for the year to top out at $12.7 billion, with GAAP diluted earnings per share expected to exceed $0.64.
"It is clear that we are in a sweet spot of the IT industry," said Joe Tucci, company chairman, president and CEO.
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