News | January 28, 2008

EMC 4Q07 Revenues up 19 Percent

January 29, 2008 - EMC Corp. released all-time record fourth-quarter and full-year revenue and year-over-year growth in profit, earnings per share and operating cash flow, with its 18th consecutive quarter of double-digit year-over-year revenue growth highlighted by balanced, double-digit revenue growth across the company’s Information Storage, Content Management & Archiving, RSA Information Security and VMware Virtual Infrastructure business lines.

For Q407, the total consolidated revenue was a record $3.83 billion, an increase of 19 percent over the $3.21 billion reported for the Q406. GAAP net income for the fourth quarter of 2007 was $525.7 million or $0.24 per diluted share, 33 percent higher than the GAAP $0.18 earnings per diluted share reported for the year-ago period. During the quarter, EMC generated operating cash flow of $979 million, an increase of 50 percent compared with the same period a year ago and free cash flow of $712 million, an increase of 78 percent year-over-year.

Total consolidated revenue for EMC’s full 2007 fiscal year was a record $13.23 billion, 19 percent higher than the $11.16 billion reported for the full 2006 fiscal year. GAAP net income for 2007 was $1.67 billion or $0.77 per diluted share, 43 percent higher than the GAAP earnings per diluted share of $0.54 reported for 2006.

During the fourth quarter, EMC systems revenue increased 15 percent compared with the same period a year ago and represented 44 percent of total fourth-quarter revenue. Software license and maintenance revenue increased 20 percent year-over-year and accounted for 40 percent of total fourth-quarter revenue. Professional services, systems maintenance and other services revenue grew by 27 percent year-over-year and represented 16 percent of total fourth-quarter revenue. Revenue from North America increased 16 percent compared with the same period a year ago and represented 55 percent of total fourth-quarter revenue. Revenue from operations outside of North America grew 23 percent year-over-year, driven by double-digit revenue growth in EMC’s Europe, Middle East and Africa (EMEA), Asia-Pacific and Japan (APJ) and Latin America regions.

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