EMC Corp. is reporting a strong uptick in sales of data storage products.
The company, the leading provider of data storage technology in terms of market share, said it realized significant gains in 2001 over 2000 in three storage market areas: a 26 percent+ increase in revenue from networked information storage, to $2.68 billion; a 9 percent hike in revenue from information storage software, to $1.56 billion; and a 59 percent increase in revenue from storage technology professional services, to $972 million.
"It's great to finish the year with momentum,” Joe Tucci, president and CEO, said in a release. “Last year was painful for the entire technology sector, and it forced EMC to become a better company in many respects.”
At the same time, however, the company reported a net loss in 2001 of $508 million on total revenue of $7.09 billion, compared to net income of $1.75 billion on revenue of $8.86 billion in 2000. (The results for 2001 include a third-quarter after-tax restructuring charge of $675 million.)
EMC said its overall revenues improved in the fourth quarter, when they hit $1.51 billion, up 25 percent from $1.21 billion in the prior quarter. It reported a fourth-quarter net loss of $70 million, compared to a third-quarter net loss of $945 million. (Without the $675 million restructuring charge, the third- quarter loss would have been $270 million.)
“Fourth-quarter results were extremely strong in the fastest- growing market segments, including 52 percent sequential revenue growth in networked information storage (storage are networks and network attached storage deployments), 45 percent sequential revenue growth in information storage software, and 15 percent sequential revenue growth in information storage services,” the company notes.
Tucci said EMC will concentrate on “what customers need most today: networked storage and consolidation, open management software, business continuity solutions and lower total cost of ownership." In October, EMC introduced its Automated Information Storage, or AutoIS, software, which is designed to provide for ease and lower cost in managing stored data.
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