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EMC Plans Web 2.0 Blitz

Despite an increasingly uncertain economic climate, EMC has posted a strong set of 2007 results, while outlining more of its plans for new Web 2.0, NAS, and security products.

The vendor's fourth-quarter revenues were $3.83 billion, an increase of 19 percent over the same period last year, and above analyst estimates of $3.66 billion. For the full year, EMC's revenues were a record $13.23 billion, 19 percent up on the prior year and higher than the $13.06 billion estimated by analysts.

On a GAAP basis, EMC's quarterly earnings were 24 cents on net income of $525.7 million, 33 percent up on the year-ago quarter.

For the full year, the vendor's earnings were 77 cents per share on net income of $1.67 billion, a 43 percent increase on the year-ago quarter. Analysts had estimated quarterly and annual earnings per share of 22 cents and 70 cents, respectively.

"I am very pleased with EMC's execution and performance in Q4 and for the year," said EMC CEO Joe Tucci, during a conference call this morning.

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