EMC (NYSE: EMC) returned to growth in the fourth quarter of 2009 for the first time in a year, thanks to double-digit sales growth in its data storage systems and greater than 50 percent growth in data deduplication. EMC released its quarterly results today. Sales were up 2 percent year-over-year to $4.1 billion, topping the […]
EMC (NYSE: EMC) returned to growth in the fourth quarter of 2009 for the first time in a year, thanks to double-digit sales growth in its data storage systems and greater than 50 percent growth in data deduplication.
EMC released its quarterly results today. Sales were up 2 percent year-over-year to $4.1 billion, topping the $4.03 billion Thomson Reuters consensus forecast. Non-GAAP earnings were $695.5 million, or 33 cents a share, also better than expected.
EMC ended the quarter with $9.4 billion in cash and investments.
The data storage giant said it expects 2010 sales of $16 billion, up 14 percent from 2009 and well above $15.45 billion estimates, and earnings of $1.12 a share, also ahead of analysts’ forecasts.
On a conference call with analysts, CFO David Goulden said the strong results were driven by double-digit growth across its Clariion, Celerra and Symmetrix storage arrays, and greater than 50 percent growth in its Data Domain and Avamar dedupe products. Solid demand for its new Symmetrix V-Max systems and fully automated storage tiering (FAST) technology also helped boost sales.
Goulden also revealed that the company won a 1.4 petabyte deal at “a major New York-based stock exchange” over rival NetApp (NASDAQ: NTAP).
CEO Joe Tucci said he expects 3 to 5 percent growth in IT spending this year, 6 to 7 percent growth in storage, and 15 to 20 percent in virtualization spending — a prediction underscored by the blow-out results reported by virtualization leader VMware (NYSE: VMW) last night, which is majority owned by EMC.
EMC also reported strong demand for its RSA security solutions, Iomega products and its consulting and professional services.
Follow Enterprise Storage Forum on Twitter
eSecurity Editor Paul Shread has covered nearly every aspect of enterprise technology in his 20+ years in IT journalism, including an award-winning series on software-defined data centers. He wrote a column on small business technology for Time.com, and covered financial markets for 10 years, from the dot-com boom and bust to the 2007-2009 financial crisis. He holds a market analyst certification.
Enterprise Storage Forum offers practical information on data storage and protection from several different perspectives: hardware, software, on-premises services and cloud services. It also includes storage security and deep looks into various storage technologies, including object storage and modern parallel file systems. ESF is an ideal website for enterprise storage admins, CTOs and storage architects to reference in order to stay informed about the latest products, services and trends in the storage industry.
Property of TechnologyAdvice. © 2025 TechnologyAdvice. All Rights Reserved
Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.
