EMC finishes strong in 2004

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EMC Corp. says demand for its expanded software portfolio, tiered network storage systems and professional services spiked sales and earnings in the fourth quarter of FY04.
   
Revenue gained 27 percent to $2.36 billion, compared with $1.86 billion in the fourth quarter of FY04. Net income grew 46 percent to $321 million, compared with $220 million in the year-ago quarter.
   
For the year, total revenue climbed 32 percent to $8.23 billion, compared with $6.24 billion in FY03. Net income escalated 76 percent to $871 million, compared with $496 million in the year-ago period.
   
Calling this an "exceptional year," systems revenue grew 15 percent compared with the year-ago quarter, EMC said. EMC's Symmetrix networked storage systems revenue experienced growth, as did its CLARiiON networked storage systems, which grew 46 percent as small to medium-sized enterprises utilized CLARiiON's functionality and affordability.
   
The new EMC CLARiiON Disk Library (CDL) products were strong as customers implemented EMC's backup-to-disk solutions to reduce recovery times, EMC said. EMC Celerra NAS (networked attached storage) and EMC Centera CAS (content addressed storage) products continued to gain momentum in the marketplace with strong, double-digit year-over-year revenue growth. Centera had a record quarter, growing revenues 48 percent over the year-ago quarter, EMC said.