EMC Posts 13% Revenue Growth

EMC reports third-quarter financial results; achieves 13% year-over-year revenue growth

October 22, 2008

1 Min Read
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HOPKINTON, Mass. -- EMC Corporation (NYSE: EMC), the world leader in information infrastructure solutions, today announced record third-quarter revenue and its 21st consecutive quarter of double-digit year-over-year revenue growth. EMCs total consolidated revenue for the third quarter of 2008 was $3.7 billion, an increase of 13% over the $3.3 billion reported for the third quarter of 2007.

Third-quarter GAAP net income was $411 million or $0.20 per diluted share, which includes a $0.01 special income tax benefit. Third-quarter non-GAAP net income¹ was $528 million or $0.25 per diluted share, 14% higher than the non-GAAP earnings per diluted share of $0.22 for the year-ago period.

Joe Tucci, EMC Chairman, President and Chief Executive Officer, said, “Against the backdrop of a tough global economy, EMC delivered its 21st consecutive quarter of double-digit revenue growth and solid double-digit profit growth. These results reflect the high quality and leadership of EMC’s broad portfolio of storage, information management and security products and services, and the global reach of our direct sales force and trusted partners. Customers will continue to turn to EMC as they focus their efforts on cost savings and maximizing efficiency across their information infrastructure. Even with a challenging economic environment ahead, we remain confident and well positioned to compete effectively, continue winning business and outpace our peers in the marketplace.”

EMC Corp.

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