New storage technologies to aid growth — EMC


9 Jun 2006

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EMC has said it intends to keep revenue growth in double-digit amounts over the next few years, with current year turnover forecast to be in excess of US$11bn.

EMC chairman, president and CEO Joe Tucci said: “EMC is leading what I believe has become one of the hottest and most dynamic areas of IT: information infrastructure. Over the next several years we expect to continue to deliver double-digit revenue growth from information storage solutions while growing five important emerging technologies into billion-dollar businesses.”

According to Tucci, those five business areas within EMC’s portfolio are: content management, resource management, storage virtualisation, security and VMware, the EMC subsidiary and global leader in virtual infrastructure software. The company believes that the growth to billion-dollar businesses would come from a combination of organic growth and new acquisitions.

Bill Teuber, EMC’s vice-chairman and chief financial officer, reaffirmed the company’s previously stated second-quarter and full-year 2006 financial goals. Consolidated revenues for the second quarter of 2006 are expected to be at least US$2.66bn. Consolidated revenues for 2006 are expected to be between US$11.1bn and US$11.3bn. EMC said that based on current expectations, the figures would probably be at the lower end of that range.

By Gordon Smith