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EMC Tackles Tough Spending Climate: Page 2 of 5

The CEO nonetheless painted a bleak picture of the overall economic landscape.

”The economic environment is tough and I believe will remain tough for the next several quarters,” said Tucci, explaining that users are now being forced look for faster ROIs and there are “more management layers” in their approval processes.

Despite the troubled spending climate, Tucci explained that EMC is making headway.

”For sure, customers are showing more caution, but don’t confuse caution with not spending,” he said. “There is sufficient business out there for what we need to do, we’re not opportunity-starved.”

Revenue from EMC’s Information Storage business, which includes storage systems, software, and services, reached $2.87 billion in the second quarter, an increase of 14 percent compared to the same period last year.