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October 19, 2010

EMC Q3 revenues up 20% to $4.21bn

Net income $0.22 per diluted share

By CBR Staff Writer

EMC has reported total revenues of $4.21bn for the third quarter of 2010, an increase of 20% as compared to $3.51bn for the same quarter prior year.

The company’s operating income for the quarter was $0.64bn as compared to $0.31bn for the same period last year.

EMC has posted income before income taxes of $0.63bn for the quarter as compared to $0.32bn for the same quarter in 2009.

For the quarter ended 30 September 2010, the company has reported net income of $0.47bn, or $0.22 per diluted share, as compared to $0.30bn, or $0.14 per diluted share, for Q3 FY09.

EMC executive vice president and CFO David Goulden said for the third consecutive quarter the company has achieved an increase in market share, invested to capitalise on the shift to cloud computing, and increased profitability.

The company expects consolidated revenues of $16.9bn for fiscal 2010, $0.91 in consolidated GAAP diluted earnings per share, and $1.25 in consolidated non-GAAP diluted earnings per share, which excludes the impact of restructuring and acquisition-related charges, stock-based compensation expense, and intangible asset amortisation.

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