Feeds

EMC's double-digit growth run will finish this quarter

For the good times...

Providing a secure and efficient Helpdesk

Storage industry bellwether EMC has delivered its 21st consecutive double digit growth quarter with revenues of $3.76bn for the third quarter. These are up 13 per cent on last year's revs, which were $3.3bn. But the company is forecasting low single-digit growth next quarter.

GAAP net income for the quarter to the end of September 2008 was $411.3m, down 16.6 per cent from Q3 2007's $492.9m. Non-GAAP net income was $528m ($0.25 per share share), up 14 per cent on Q3 2007's $463.16m ($0.22 per share). The GAAP figure was boosted by a $0.10 per share tax benefit. This was more than offset by a restructuring charge for the third quarter of 2008.

All of EMC's global markets - the USA, Asia-Pac, Latin America and EMEA - showed growth. Revenue from EMC's Information Storage business, which includes revenue from storage systems, storage management software and related customer and professional services, reached $2.9bn, an increase of 11 per cent compared with the same time last year. There was double-digit year-over-year revenue growth from EMC's Clariion and products based on it, indicating Symmetrix didn't do so well. Similar growth occurred with the backup, recovery and archive software products.

RSA revenues grew 11 per cent year over year, reaching $147m. The Content Management and Archiving business didn't grow so much, Q3 2008 revenue was $188m. That was however an 0.53 per cent decline as the same quarter last year showed ECM revenue at $189m. ECM executives are probably getting more sticks than carrots over that.

VMware contributed third-quarter revenues of $472m, an increase of 33 per cent compared to last year.

EMC capo Joe Tucci was generally pleased and said of the outlook: "Even with a challenging economic environment ahead, we remain confident and well positioned to compete effectively, continue winning business and outpace our peers in the marketplace." However this looks a tad optimistic.

EMC's actual outlook for the fourth quarter of 2008 is for consolidated revenues of $4bn, up 6 per cent sequentially, and only 4.4 per cent year-on-year, as 2007's fourth quarter saw revenues of $3.83bn.

GAAP earnings per share between will be $0.23 and $0.24, and between $0.30 and $0.31 non-GAAP.

There will be no 22nd consecutive quarter of double digit growth. ®

Security for virtualized datacentres

More from The Register

next story
Wanna keep your data for 1,000 YEARS? No? Hard luck, HDS wants you to anyway
Combine Blu-ray and M-DISC and you get this monster
US boffins demo 'twisted radio' mux
OAM takes wireless signals to 32 Gbps
Apple flops out 2FA for iCloud in bid to stop future nude selfie leaks
Millions of 4chan users howl with laughter as Cupertino slams stable door
No biggie: EMC's XtremIO firmware upgrade 'will wipe data'
But it'll have no impact and will be seamless, we're told
Students playing with impressive racks? Yes, it's cluster comp time
The most comprehensive coverage the world has ever seen. Ever
Run little spreadsheet, run! IBM's Watson is coming to gobble you up
Big Blue's big super's big appetite for big data in big clouds for big analytics
prev story

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
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.