EMC: No Slowdown Here - InformationWeek

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4/22/2005
05:44 PM
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EMC: No Slowdown Here

EMC Corp. last week reported that revenue in its first quarter ended March 31 grew 20% to $2.24 billion, compared with the same quarter last year. Earnings soared 93% to $269.8 million. The company's results were in stark contrast to those of IBM, Siebel Systems, and other IT vendors that reported a sudden slowdown in sales in the first quarter.

"We, too, saw a slow February. But activity picked up nicely in March, especially in the last three weeks of the quarter, and especially in the United States," president and CEO Joe Tucci said in a teleconference.

EMC reported growth across all of its lines. Systems sales increased 15% compared with the year-ago quarter to $1.03 billion, while software license and maintenance sales grew 26% to $832 million. Revenue from professional services, systems maintenance, and other services also increased 26% to $375 million during the quarter.

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