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EMC Closes Year With a Bang

EMC Corp. (NYSE: EMC) reported better-than-expected fourth-quarter revenues today, bringing a close to a year of double-digit growth (see EMC Posts $2.3B Quarter).

EMC reported $2.36 billion in revenue, up 16 percent sequentially and 27 percent year-over-year. Net income of $321 million was up 47 percent sequentially and 46 percent from the previous year. Earnings per share (EPS) were $0.13 compared to $0.09 a year ago.

For the year, EMC reported $8.23 billion in revenue, up 32 percent over 2003's $6.24 billion. Net income for the full fiscal year 2004 was $871 million ($0.36 per diluted share), up 76 percent from 2003's net income of $496 million ($0.22 per diluted share).

Needless to say, EMC execs waxed confident on today's call, even focusing on areas where the company faces its toughest competition, such as in high-end storage.

Though EMCs midrange Clariion series continued to grow at a clip this quarter (up 46 percent year-on-year to $393 million), high-end Symmetrix revenue of $755 million was up 3 percent from last year and 17 percent sequentially after three quarters of decline. EMC CEO Joseph Tucci says quarterly revenue suggests EMC is gaining share on the high end as well as the midrange.

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