Information technology infrastructure and systems provider EMC reported record fiscal 2007 second quarter revenue and strong profits for the period. The Hopkinton, Mass.-based firm said it has now delivered double-digit top-line growth for 16 consecutive quarters.
Total consolidated revenue for the second quarter of 2007 (end-June 30) was $3.12 billion, 21 percent higher than the $2.57 billion reported for the second quarter of 2006. Generally accepted accounting principles (GAAP) net income for the second quarter of 2007 was $334.4 million, 33 percent higher than the GAAP earnings for the same period last year. EMC generated strong operating cash flow of $622 million, an increase of 59 percent, and free cash flow of $422 million, an increase of 123 percent, compared with last year’s second quarter, the company said.
EMC said that its strong second quarter revenue picture was due in part to growth in the firm’s mid-range information storage product line, systems sales, and software license and maintenance purchases.