Yearly, Quarterly Earnings Records Set by EMC

By CIOinsight  |  Posted 01-25-2011

EMC keeps breaking earnings records -- quarter after quarter after quarter.

The data storage, security and cloud management software provider on Jan. 25 reported a pair of accounting trifectas: record consolidated revenue, net income and free cash flow for both the quarter and for 2010 in its entirety.

In Q4 2010, EMC's consolidated revenue -- including all its affiliates -- was $4.9 billion, an increase of 19 percent compared with the year-ago quarter. Its GAAP net income increased a sizable 61 percent over 2009 to $628.6 million (29 cents per share).

EMC's own net income for the fourth quarter came in at $920.1 million, an increase of 32 percent over Q4 2009.

During the quarter, EMC's record quarterly operating cash flow and free cash flow amounted to $1.5 billion and $1.2 billion -- up 50 percent and 54 percent, respectively, year over year. The company completed the quarter with $9.5 billion in cash and investments.

"We are very pleased at EMC's performance this quarter, in all phases of the business," Chairman, President and CEO Joe Tucci told listeners at the company's earnings call. "We executed our strategy well, we've gained marketshare, and we continue to innovate for our customers."

For more, read the eWeek article: EMC Sets Quarterly, Yearly Earnings Records.