EMC books record Q2

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Storage developer EMC posted its 20th consecutive quarter of double-digit revenue growth and record fiscal revenue results for the second quarter, which ended June 30.

EMC’s total consolidated revenue for the second quarter of 2008 was $3.67 billion, an increase of 18 percent over the $3.12 billion reported for the second quarter of 2007. The firm noted that revenue from its Information Storage business, which includes revenue from storage systems, storage software and related customer and professional services, reached $2.87 billion, an increase of 14 percent compared with the year-ago period.

Non-GAAP second-quarter net income, which excludes stock-based compensation and intangible amortization, was $511.7 million, 20 percent higher than the non-GAAP earnings for the year-ago period.

Joe Tucci, EMC chairman, president and CEO, said that despite continued economic uncertainty at the macro level, he believes spending on information infrastructure and virtual infrastructure technologies and solutions will continue to grow, driven largely by the need to manage the ever-expanding volume of information efficiently, securely and cost effectively.