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EMC posts 11pc rise in Q4 revenues

Wednesday, January 29 15:25:03

EMC, the global cloud, big data and tech group with 3,000 staff in Ireland, today reported an increase of 11pc in fourth-quarter revenue over the same period last year.

The US technology giant, which employs 63,000 people worldwide and whose Centre of Excellence is based in Cork, reported fourth-quarter revenue was $6.7 billion, an increase of 11pc compared with the year-ago quarter.

Full-year 2013 revenue was $23.2 billion, an increase of 7pc year over year.

This result was highlighted by 5pc year-over-year revenue growth for EMC's Information Infrastructure business, and 15pc year-over-year revenue growth each for VMware and Pivotal. GAAP net income attributable to EMC for 2013 increased 6pc year over year to $2.9 billion, and GAAP earnings per weighted average diluted share were $1.33, up 8pc year over year. Non-GAAP2 net income attributable to EMC for 2013 was $3.9 billion, an increase of 4pc year over year, and non-GAAP2 earnings per weighted average diluted share were $1.80, an increase of 6pc year over year.

Bob Savage, Vice President and Managing Director of EMC's Centre of Excellence (CoE) in Cork, said the results show that EMC's strategy is on target and that Ireland is a 'strategic part of EMC's global operation.

"EMC is at the heart of transformation in global IT where mobile, cloud computing and big data are the most high-tech innovations in modern technology. With the strategy, products, innovation and vision in our favour, EMC is well positioned to help customers in Ireland and across the world to discover the value of cloud, big data and predictive analytics in transforming IT into a source of greater efficiency to improve business performance and capture greater market share," he said.

"Through our CoE in Cork, one of the largest development sites outside the US, our skilled workforce, spanning 28 business units and exporting to more than 140 countries, are a critical piece in helping the company to lead a transformative era in information technology," added Mr Savage.

New customers who deployed EMC solutions in Ireland last year include Tullow Oil, United Drug, HSE, Department of Education, Eircom, Belfast Health and Social Care Trust and TSSG in Waterford IT.

Gerry Murray, EMC's Country Manager in Ireland said the company's performance in the Irish market in 2013 was "exceptional" and the outlook for 2014 remains very strong.