EMC ends 2006 on a high note

Storage giant EMC said fourth quarter profit almost tripled as the company reported increased sales of its higher-end systems and growth across key business lines.

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By  Administrator Published  January 24, 2007

Storage giant EMC said fourth quarter profit almost tripled as the company reported increased sales of its higher-end systems and growth across key business lines.

Net income for the quarter rose to US$388.8million, up from US$148.3million in the same period a year before, with sales rising from US$2.71 billion to US$3.21 billion.

The firm said it saw double-digit revenue growth across its systems, software and services offerings and across all four of its major geographies. The Europe, Middle East and Africa region saw the highest growth, up 22% on 2005.

EMC said its Symmetrix systems enjoyed their strongest revenue growth for six years, driven by customer demand for larger storage systems.

Total revenue for 2006 was US$11.15 billion, up from US$9.6 billion a year ago.

“EMC has clearly joined the short list of the world’s elite information technology suppliers that organisations around the world choose to partner with to drive their business,” EMC CEO Joe Tucci said in a statement.

“We have focused our entire company on information infrastructure, enabling our customers to put their information to work and better leverage its value. We begin 2007 with the technology portfolio, the strategy and, most importantly, the trust of our customers to help them solve their most pressing issues.”

In January EMC had said it would cut 1,350 jobs, 100 more than previously announced, as it looked to integrate acquisitions it made last year.

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