Web 2.0, virtualisation top EMC’s R&D priorities

30 Jan 2008

Storage equipment vendor EMC, which employs over 2,000 people in Ireland, said last night that its R&D investment priorities will centre on areas like Web 2.0, virtualisation, compliance and new online methods for purchasing and consuming software.

Yesterday EMC reported its 18th consecutive quarter of double-digit, year-over-year revenue growth, with Q4 revenues hitting US$3.8bn, up 19pc on the previous year.

The company was able to report a quarterly net income of US$525.7m and it generated operating cash flow of US$979m during the quarter.

Total consolidated revenues for 2007 were US$13.2bn and net income came in at US$1.6bn.

EMC chief executive Joe Tucci said the partial flotation of the company’s virtualisation subsidiary VMware met its key goals.

“2007 was truly a break-out year for EMC,” Tucci said. “We exceeded all of the aggressive financial targets we set out to achieve at the beginning of the year.”

As well as this, he said, EMC succeeded in its initiative to interlock and drive more technology and product integrations across its information storage, content management and archiving and RSA information security business units.

“EMC has never been better positioned to continue to grow and gain market share,” Tucci continued. “We have the best product line-up in our history with a very favourable product cycle, and our proven go-to-market model is firmly in place.

“EMC is well positioned in the areas where IT spending will grow the fastest this year,” he concluded.

By John Kennedy