Data storage vendor EMCreported first-quarter 2003
revenue totalling $1.38bn (£0.9bn), up 6% from the $1.30bn for the
same period one year ago.
The company said net income for the first quarter was $35m, or 2
cents per diluted share, compared with a net loss of $77m, or 3
cents per diluted share, one year ago.
The results are an improvement over the company's financial
performance in the fourth quarter of 2002, when EMC recorded a loss
of $64m and a full-year net loss of $119m for 2002.
Joe Tucci, EMC's president and CEO, said in a statement that the
company is brightening its financial picture through product
innovation and value. "As a result, I believe we again gained
market share during the first quarter," he said.
Revenue from information storage software was 6% higher in the
first quarter of 2003 than it was in the first quarter of 2002,
according to the company, and first-quarter revenue from
information storage services was up 28% from a year earlier.
The company said it expects second-quarter revenue to be between
$1.425bn and $1.475bn, with earnings per share anticipated at about
3 cents per diluted share.