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January 28, 1998

EMC STILL KING OF STORAGE HILL

By CBR Staff Writer

Under assault from all sides as king of the open storage hill, EMC Corp’s fourth quarter earnings still came in right on the money, meeting analysts’ $0.32 per share expectations. The company reported net income up 33.7% at $166.23m compared with $124.28m on revenue up 33% at $873.39m compared with $656.39m. For the year EMC reported net income up 39.4% at $538.52m compared with $386.22m on revenue up 29.2% at $2.93bn compared with $2.27bn. Its software business grew 131% in the year while open systems storage sales grew 94%. It’s going to counter Sun Microsystems Inc’s new attack on the open storage space with a new strategy planned for February 2.

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