Boston, MA 01/31/2014 (wallstreetpr) – EMC Corporation (NYSE:EMC) which is a data storage specialist has posted some fair results for its fourth quarter F2013 and provided a soft guidance for its first quarter of F2014. The results were strong although the company provided a weak and soft outlook for the coming quarter. The company sales enjoyed the greatest growth increasing by 11% year over year to reach the $6.7 billion mark. This should be positive news to its shareholders as the company continues to show growth in the ever dynamic data storage industry
EMC Corporation (NYSE:EMC) Non GAAP earnings also jumped in the fourth quarter to an all-time high of 11% resulting in a $0.60 per diluted share. This was a slight improvement considering analysts had estimated earnings of $0.59 per diluted share on a $6.6 billion in revenue. EMC expects its net sales for 2014 fiscal year to reach the $24.5 billion mark with a projection of $5.4 billion for the first quarter. Analysts have placed their mark on $25 billion for the entire year and $5.8 billion for the first quarter. EMC chief executive officer has continued to remind shareholders that the company is betting big on the game changing mega trends in Mobile social and big data portfolios.
EMC Corporation (NYSE:EMC) fourth quarter results shows stability for the company in the market as the company total product revenue including that of its subsidiary VMware rose by 11% Y/Y to $4.16b. Its core information storage unit that contributes to 71% of total revenue saw sales rising by 10% Y/Y after growing for only 1% in the third quarter of the same financial year. Its emerging storage products that include the likes of Isilon scale –outNAS systems, Atmos cloud storage and XtremlO flash storage recorded a combined growth of 73% to reach the $560 million mark its Gross margin fell by 160bps Y/Y to 64.6%
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