CIOL:EMC net profit up posts record Q1 revenue

EMC net profit up, posts record Q1 revenue

Double-digit revenue growth was posted in Europe, the Middle East and Africa and throughout Asia-Pacific, with revenue derived from markets outside the U.S. up 18 percent

Wednesday, April 18, 2007

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NEW DELHI: Storage vendor,EMC has posted net income of $US312.6 million for Q1 that ended March 31 2007. The company had psoted net income of $US272.4 million in the same quarter of last year.

Revenue touched $US2.98 billion, 17 percent above the $US2.55 billion recorded in the first quarter of last year. Systems revenue, which amounted to 44 percent of total quarterly revenue, was up 6 percent,
EMC said, while software license and maintenance revenue, which is 40 percent of the total was up 29 percent. Professional services, systems maintenance and other services revenue, at 16 percent of total revenue, rose 21 percent.

Growth in the Asia-Pacific region and Japan along with demand for VMware virtual infrastructure products and RSA security software pushed EMC first-quarter revenue to a record level and also boosted net income over the same period of last year.

Double-digit revenue growth was posted in Europe, the Middle East and Africa and throughout Asia-Pacific, with revenue derived from markets outside the U.S. up 18 percent, said EMC statement.

EMC's content management and archiving business had a more modest revenue jump, up 3 percent to $US172 million, while its RSA security division posted revenue of $US120 million, up 25 percent.

Company Chairman, President and CEO Joe Tucci noted changes in the executive management team for the Asia-Pacific region and Japan that put "our business in that part of the world ... back on track" with that region now the company's "fastest-growing geography."

EMC (EMC) shares were up 1.1 percent, at $US14.76, in morning trading on the Nasdaq exchange.

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