Feeds

EMC squares up to charges, sees profit fall

That's gotta hurt

Choosing a cloud hosting partner with confidence

Storage vendor EMC Corp today reported a 14 per cent first quarter profit drop and blamed acquisition-related expenses for the fall.

The Massachusetts-based firm said it coughed a $79.2m non-cash charge for in-process research and development that came from company buy-outs during the quarter.

The costly charges pushed net income down to $268.8m, or 13 cents a share, down from $312.6m, or 15 cents in the same period a year ago.

However, EMC notched up a healthy 17 per cent sales growth to $3.47bn for Q1, ended 31 March 2008, compared to the same quarter last year.

Excluding the recent acquisitions splurge, the firm, in line with Wall Street expectations, brought in $348m, or 16 cents a share, pushing earnings down from $380.2m, or 13 cents a share, a year earlier.

EMC, which majority-owns virtualisation market leader VMWare that yesterday reported a massive 70 per cent Q1 revenue surge, said it remained on target to achieve its 2008 financial objectives.

This way for the EMC press release. ®

New hybrid storage solutions

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.