TMCNet:  EMC reports higher net income for Q4, provides outlook for 2013

[January 31, 2013]

EMC reports higher net income for Q4, provides outlook for 2013

Jan 31, 2013 (Datamonitor via COMTEX) -- EMC Corporation, a provider of cloud computing services, has reported that net income attributable to the company for the fourth quarter ended December 31, 2012 was $869.92 million, or $0.39 per diluted share, compared to $832.05 million, or $0.38 per diluted share, for the same quarter ended December 31, 2011. For 2013, EMC expects consolidated GAAP net income attributable to the company to be $3.0.


Revenues for the fourth quarter ended December 31, 2012 were $6.03 billion, compared to $5.57 billion for the same quarter ended December 31, 2011.

Net income attributable to the company for the year ended December 31, 2012 was $2.73 billion, or $1.23 per diluted share, compared to $2.46 billion, or $1.1 per diluted share, for the year ended December 31, 2011.

Revenues for the year ended December 31, 2012 were $21.71 billion, compared to $20.01 billion for the year ended December 31, 2011.

Consolidated GAAP earnings per weighted average diluted share are expected to be $1.35 for 2013. For 2013, the company expects consolidated revenues to be $23.5 billion.

Joe Tucci, EMC Chairman and CEO, said, "EMC achieved its first $6 billion quarter for revenue, capping off a record breaking 2012. Driving our strong results is the strength of our leading-edge products and services, our solid operational and financial model, and consistent execution against our strategy.

"EMC remains squarely at the center of the most disruptive and opportunity-rich shift in IT history, propelled by the benefits of cloud computing, Big Data and trusted IT. These high-priority IT spending areas are core to our strategic focus and represent market segments where EMC has established leadership positions and competitive advantage." http://www.datamonitor.com Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon

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