EMC lifts Q4 revenue by 14%
IT services group EMC Corporation on Tuesday announced fourth-quarter consolidated revenue of $5.6 billion, an increase of 14% compared with the same quarter a year ago.
EMC’s consolidated fourth-quarter revenue from the United States reached an all-time record of $3.0 billion, an increase of 16% year over year, representing 54% of consolidated fourth-quarter revenue.
The group, which has a presence in South Africa, said that revenue from its business operations outside of the United States reached an all-time record $2.6 billion – an increase of 12% year over year, representing 46% of consolidated fourth-quarter revenue.
Within this, revenue increased 6%, 26% and 26% year over year, respectively, in EMC’s Europe, Middle East and Africa; Asia Pacific and Japan; and Latin America regions.
Fourth-quarter GAAP net income attributable to EMC increased 32% year over year to $832.0 million.
Fourth-quarter GAAP earnings per weighted average diluted share increased 31% year over year to $0.38, it said.
For the full-year 2011, consolidated revenue was $20.0 billion, an increase of 18% year over year; GAAP net income attributable to EMC increased 30% year over year to $2.5 billion; and GAAP earnings per weighted average diluted share were $1.10, up 25% year over year, the group said.
During the fourth quarter, EMC said it generated operating cash flow and free cash flow of $2.2 billion and $1.9 billion, increases of 44% and 55% year over year, respectively.
For 2011, EMC generated operating cash flow of $5.7 billion and free cash flow of $4.4 billion, increases of 25% and 29% year over year, respectively.
Joe Tucci, EMC Chairman and CEO, said: “EMC had a strong and record-breaking 2011. There’s no doubt that cloud computing is completely transforming the IT industry and that Big Data promises to have a similarly profound effect on transforming the way we work and live.
“Our customers and partners have these transformations in their sights and are embracing EMC’s vision, strategy and best-of-breed portfolio to capitalize on them and realize the full potential of their information assets.”
For the fourth quarter, EMC’s Information Storage business increased revenue 12% year over year.
Looking ahead, the group said it expects consolidated revenues to be $22.0 billion for 2012.
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