EMC Corp. (NYSE: EMC) announced solid quarterly results this morning, citing gains in mid-tier storage systems, services, and software. And though large storage system sales were down, the company foresees good growth next quarter. (See EMC Reports Results .)
EMC reported $2.37 billion in third-quarter revenue, a 17 percent increase year over year, but just a hair above last quarter's $2.34 billion. (See EMC Guides Low .) Net income was $422 million, including $106 million from a tax benefit, which brought diluted earnings per share to $0.17, compared with $293 million in income and $0.12 EPS last quarter.
Despite the obvious tax boost, CEO Joe Tucci credited information lifecycle management (ILM) for the gains. "With each passing quarter, ILM is being adopted by more and more customers who see it as the most logical and efficient way to maximize the value of their information," he said in a statement.
Revenue from software licensing and maintenance grew 16 percent year on year; professional services, many related directly to helping customers plan and build ILM deployments, grew 25 percent; and systems revenue grew 15 percent.
Of EMC's total revenue, systems accounted for $1.09 billion, or about 46 percent; software, for $865 million, or 37 percent; and services, for $402 million, or 17 percent.