EMC Comments on Analyst Day.Business Editors/High-Tech Writers HOPKINTON Hopkinton is the name of several towns in the United States:
Earlier today, EMC Corporation EMC Corporation (NYSE: EMC) is an American Fortune 500 and S&P 500 manufacturer of software and systems for information management and storage. It is headquartered in Hopkinton, Massachusetts, USA. ("EMC (1) (EMC Corporation, Hopkinton, MA, www.emc.com) The leading supplier of storage products for midrange computers and mainframes. Founded in 1979 by Richard J. Egan and Roger Marino, EMC has developed advanced storage and retrieval technologies for the world's largest companies. ") held its annual financial analyst meeting in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and issued a press release which included the following business outlook:
-- EMC expects its revenue growth rate to be in the mid-teens for
the second half of 2003 and fiscal year 2004, compared to the
prior comparable periods.
-- EMC expects its gross margins will continue to improve to 48%
or greater by the fourth quarter of 2004. However, gross
margins may fluctuate from quarter to quarter based on varying
rates of revenue growth.
-- EMC reaffirmed that it is on track to be profitable for each
of the remaining quarters in 2003 and to meet its previously
stated expectations for the third quarter of 2003. (See July
16, 2003, news release, "EMC Reports Second Quarter Results.")
The above statements are based on current expectations. These
statements are forward-looking, and actual results may differ
materially. Except for the planned acquisition of LEGATO Systems,
Inc., these statements do not include the potential impact of any
mergers, acquisitions, divestitures, or business combinations that
may be completed after the date hereof.
EMC expanded its business outlook stating that it expects its revenue growth rate to be between 13% and 17% for the second half of 2003 and the fiscal year 2004, compared to the prior comparable periods. The revenue growth rate is expected to be at the low end of the range without the impact of the acquisition of LEGATO (Legato Systems, Inc., Mountain View, CA, www.legato.com) A leading provider of storage management and high-availability software founded in 1988 and acquired by EMC Corporation in 2003. Legato software, including Celestra data management (data mining, data migration, etc. Systems, Inc. The revenue growth rate is expected to be at the high end of the range including the impact of the acquisition of LEGATO Systems, Inc. Consensus revenue growth estimates for each of EMC and LEGATO Systems, Inc. for fiscal year 2004 compared to fiscal year 2003 are approximately 13%. About EMC EMC Corporation is the world leader in information storage systems, software, networks and services, providing automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. networked storage solutions that enable organizations of all sizes to better and more cost-effectively manage, protect and share their information. More information about EMC's products and services can be found at www.EMC.com. Forward Looking Statements This release contains "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " as defined under the Federal Securities Laws. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including but not limited to: (i) risks associated with strategic investments and acquisitions, including the challenges and costs of closing, integration, restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). and achieving anticipated synergies associated with the announced plan to acquire Legato Systems, Inc.; (ii) adverse changes in general economic or market conditions; (iii) delays or reductions in information technology spending; (iv) the transition to new products, the uncertainty of customer acceptance of new product offerings, and rapid technological and market change; (v) insufficient, excess or obsolete inventory Obsolete Inventory Term that refers to inventory that is at the end of its product life cycle and has not seen any sales or usage for a set period of time usually determined by the industry. This type of inventory has to be written down and can cause large losses for a company. ; (vi) competitive factors, including but not limited to pricing pressures; (vii) component quality and availability; (viii) the relative and varying rates of product price and component cost declines and the volume and mixture of product and services revenues; (ix) war or acts of terrorism; (x) the ability to attract and retain highly qualified employees; (xi) fluctuating fluc·tu·ate v. fluc·tu·at·ed, fluc·tu·at·ing, fluc·tu·ates v.intr. 1. To vary irregularly. See Synonyms at swing. 2. To rise and fall in or as if in waves; undulate. v. currency exchange rates; and (xii) other one-time one-time adj. 1. or one·time a. Occurring or undertaken only once: a one-time winner in 1995. b. events and other important factors disclosed previously and from time to time in EMC's filings with the U.S. Securities and Exchange Commission. EMC disclaims any obligation to update any such forward-looking statements after the date of this release. |
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