EMC posts $2.98 bn revenue for Q1

HONG KONG: EMC Corporation recorded total consolidated revenue in the first quarter of 2007 at $2.98 billion, 17 per cent higher than the $2.55 billion reported for the first quarter of 2006.

GAAP net income for the first quarter of 2007 was $312.6 million or $0.15 per diluted share, which included a $0.01 per diluted share tax benefit. GAAP earnings per diluted share for the first quarter was 36 per cent higher than the GAAP earnings per diluted share of $0.11 reported for the year-ago period. In the first quarter of 2007 the APJ region contributed $321 Million, or 11%, of EMC’s $2.98 billion total consolidated revenue.

Other highlights of EMC’s quarter included increased demand for its VMware virtual infrastructure solutions and RSA information security software. With these results, EMC has delivered double-digit top-line growth for 15 consecutive quarters.

Joe Tucci, EMC Chairman, President and Chief Executive Officer, said, “Customers around the globe continue to embrace our information infrastructure solutions to help store, protect, optimize and leverage their corporate information. Our first-quarter performance and our focus on integration and execution place us firmly on track to meet our financial targets for 2007.”

“A strong focus on execution and a reinvigorated partner strategy have helped our business in the APJ region expand significantly faster than the overall market and re-emerge as our fastest-growing geography,” Tucci added.

Steven Leonard, President EMC Asia Pacific & Japan region who recently completed his first year at EMC, said, “The combination of our strategic acquisitions and focused R&D investments help to ensure that we have the most comprehensive offerings to handle our customer’s information infrastructure requirements, and we are ensuring that EMC systems, software and services capabilities are fully available across North Asia, as well as in ASEAN and ANZ,” he added.

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