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EMC Outlines Strategy for Sustained Double-Digit Revenue Growth at Annual Analyst Day
EMC Reaffirms Second Quarter and Full-Year 2006 Business Outlook
Joe Tucci, EMC's Chairman, President and CEO, said, ³EMC is leading what I believe has become one of the hottest and most dynamic areas of IT: information infrastructure. Over the next several years, we expect to continue to deliver double-digit revenue growth from information storage solutions, while growing five important emerging technologies into billion-dollar businesses.²
³It is our belief that IT infrastructures are at the beginning of a significant transformation, from being static and platform centered to dynamic and service oriented,² continued Tucci. ³Customers are looking for a guide to help them understand and navigate this emerging world. EMC has the expertise, the partners and a terrific set of technologies and solutions to help organizations of all sizes turn service-oriented information infrastructure to their business advantage.²
Tucci outlined five business areas within EMC's portfolio that could each reach the billion-dollar level within the next several years: content management, resource management, storage virtualization, security and VMware, the EMC subsidiary and global leader in virtual infrastructure software. These billion-dollar opportunities will be a result of both organic growth and new acquisitions, and, over the next several years, will help drive EMC's double-digit revenue growth.
Mark Lewis, EMC's Executive Vice President and Chief Development Officer, described the next generation of IT and detailed ³game-changing² technology developments that will underpin future data centers, including information-centric IT and security, and services-oriented infrastructures.
Diane Greene, President of VMware, outlined where virtual infrastructure is going. With its technology, VMware is ushering in a new era by taking the complexity out of IT infrastructure, adding flexibility and offering customers significantly better returns on their investments. Greene described VMware Infrastructure 3. Shipping this month, the VMware Infrastructure 3 suite is the first truly distributed system, making the promise of utility computing real for customers around the world.
Bill Teuber, EMC's Vice Chairman and Chief Financial Officer, reviewed the ongoing efficiencies contained within EMC's business model and reaffirmed EMC's previously stated second quarter and full-year 2006 financial goals, including:
- Consolidated revenues for the second quarter of 2006 are expected to be at least $2.66 billion.
- GAAP diluted earnings per share for the second quarter are expected to be $0.13. Non-GAAP diluted earnings per share, excluding stock-based compensation and intangible amortization, are expected to be $0.17.
- Consolidated revenues for 2006 are expected to be between $11.1 billion and $11.3 billion. Current expectations are for revenues to be at the lower end of that range.
- GAAP diluted earnings per share for 2006 are expected to be between $0.54 and $0.57. Non-GAAP diluted earnings per share, excluding stock-based compensation and intangible amortization, are expected to be between $0.70 and $0.73.
A replay of EMC's Annual Analyst Day webcast will be available at www.emc.com/ir following the completion of the event.
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