Cloud storage player Box’s IPO on the New York Stock Exchange yesterday was a roaring success with shares closing the day at US$23.23, up 66pc, giving the company a market value of US$2.7bn.
Dublin: 25.01.2015 03.50AM
EMC today revealed fourth-quarter revenues of US$5.6bn and total 2011 revenues of US$20bn, which were up 18pc on 2010.
EMC's fourth-quarter net income increased 32pc year-over-year to US$832m and net income increased 30pc year-over-year to US$2.5bn.
EMC's consolidated fourth-quarter revenue from the United States reached an all-time record of US$3bn - an increase of 16pc year-over-year, representing 54pc of consolidated fourth-quarter revenue.
Revenue from EMC's business operations outside of the US reached an all-time record of US$2.6bn - an increase of 12pc year-over-year, representing 46pc of consolidated fourth-quarter revenue.
“As demand for hybrid cloud and big data solutions surges, our rapidly expanding channel and mid-market business is expected to continue growing, driving further expansion through next year," EMC country manager Jason Ward said.
“Here in Ireland and globally, EMC is taking market share, reinvesting for growth and delivering improved earnings as we transform the IT and business environments through innovative cloud and big data solutions," Ward added.
He said new customer signings during the year included Genworth Financial, Concern, Elavon and Boyle Sports.
EMC employs some 2,500 people in Ireland. Bob Savage, vice-president and managing director of EMC's Centre of Excellence (CoE) in Cork, said the results showed EMC in Ireland is helping to drive a revolution in global IT.
“Through our CoE, which houses EMC's largest manufacturing site outside the US, we are helping customers to discover how cloud and big data can save money and capture greater market share, deliver greater efficiencies, speed and agility for businesses, and position Ireland at the leading edge of a global IT revolution."