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Listed Techs Record results for EMC
Listed Techs Record results for EMC | Record results for EMC |
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| by Stephen Withers | |
| Wednesday, 30 January 2008 | |
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The company claimed "balanced" results across its business units and geographical market segments. "2007 was truly a breakout year for EMC. We exceeded all of the aggressive financial targets we set out to achieve at the beginning of the year," said Joe Tucci, chairman, president and CEO. "The highly successful partial IPO of VMware clearly met its key goals. And we further organized around our 'One EMC' initiative to interlock and drive more technology and product integrations across our information storage, content management and archiving, and RSA information security business units, making it much easier for our customers and partners to do business with EMC." The company is predicting further growth, despite the uncertain conditions. Revenue for 2008 is expected to grow 13 percent to $US15 billion. Majority-owned subsidiary VMware is set to be the standout unit, with a predicted 50 percent lift in revenue. If you think that's on the high side, the trend to virtualisation is in full flood, with VMware reporting year-on-year growth of 80 percent for 4Q07.
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