EMC delivers strong Q4 and full-year results

29 Jan 20132 Shares

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US data storage firm EMC saw revenues rise for both its fourth quarter and full-year 2012, with increases of 8pc and 9pc, respectively.

Fourth-quarter revenue amounted to US$6.0m, compared with the year-ago period, and full-year 2012 revenue totalled US$21.7bn.

“EMC achieved its first US$6bn quarter for revenue, capping off a record-breaking 2012,” said Joe Tucci, EMC chairman and CEO.

“Driving our strong results is the strength of our leading-edge products and services, our solid operational and financial model, and consistent execution against our strategy.”

EMC’s net income for Q4 rose 5pc year-over-year to US$870m, and earnings per weighted average diluted share for the quarter increased 3pc year-over-year to US$0.39. 

For the full year, net income also increased, by 11pc year-over-year, to US$2.7bn, and earnings per weighted average diluted share amounted to US$1.23, up 12pc year-over-year. 

The company’s operating cash flow for 2012 totalled US$6.3bn, and free cash flow amounted to US$5.0bn, reflecting increases of 10pc and 14pc year-over-year respectively.

EMC ended the year with US$11.4bn in cash and investments.

EMC in Ireland

Jason Ward, country manager for EMC Ireland, said the company continues to perform strongly in the Irish market.

“EMC remains the vanguard of IT innovation in Ireland, and we are at the crossroads of the most disruptive shift in IT history where cloud, big data and trusted IT are transforming the enterprise environment. In Ireland, EMC is partnering with customers across the private and public sectors on their innovation journey, particularly with our hybrid cloud, big data and IT security solutions,” said Ward.

Among EMC’s newest customers in Ireland are Icon, Telecity, Celestia and Friends First.

Bob Savage, vice-president and managing director of EMC’s Centre of Excellence in Cork, said EMC is taking market share, reinvesting for growth and delivering improved earnings.

“EMC’s broad portfolio of products and services, offering customers greater efficiency, control and choice as they transform their IT and businesses, is a key differentiating element of our continued financial success. We believe EMC is well positioned to expand our leadership in the market segments we serve, and here in Cork our talented and highly skilled workforce is exporting to more than 140 countries,” said Savage.

Tina held senior editorial positions at daily newspapers in Ottawa and Toronto

editorial@siliconrepublic.com