EMC Reports Strong 4Q Results

EMC reported fourth quarter revenue of $1.9 billion, 25% higher than the same period last year, capping off a strong second half to 2003 and diluted only by its acquisitions of Legato and Documentum.

The net income difference from year to year fourth quarters was impressive, $220 million or 9 cents per share in 2003 compared to a $64 million and 3 cent per share a year ago. The positive second half of the year carried EMC's full year results. Revenue of $6.2 billion was 15% higher than $5.4 billion in 2002. Full year 2003 net income of $496 million and 22 cents per share compared to a loss of $119 million and 5 cents per share the year before.

The vendor clamed double-digit sequential growth from the third to the fourth quarters for products like its high-end Symmetrix product, Centera content addressable storage, and some software and services. EMC says its commodity Clariion midrange storage cracked the billion dollar mark in 2003.

Joe Tucci, president and CEO at EMC, praised his employees for continued innovation. He also said continued strained budgets, compliance demand, and information protection created early interest for Information Lifecycle Management, the automated processes for managing information from creation through deletion.