EMC sets Q4 record

EMC Corporation reported fourth quarter 2008 revenue of $4.02 billion (R40 billion), growing 5% year-on-year, an all-time EMC record for quarterly revenue, according to PR News Wire.

Fourth quarter generally accepted accounting practises (GAAP) net income was $288 million (R2.8 billion) or $0.14 (R1.39) per share, which includes a $0.10 (R0.99) restructuring charge. And fourth quarter non-GAAP net income was $646.8 million (R6.4 billion) or $0.32 (R3.18) per diluted share, 7% higher compared with the year-ago period.

The storage solutions specialist posted, for 2008, total consolidated revenue of a record $14.88 billion (R147.9 billion), an increase of 12% year-on-year and representing EMC's sixth consecutive year of double-digit annual revenue growth. GAAP net income for 2008 was $1.35 billion (R13.4 billion) or $0.64 (R6.36) per share.

Seagate has released two new hard drives in its Cheetah enterprise-class hard drive selection that are geared towards helping companies in tough economic climates, reports IT VAR News.

The new Cheetah drives will bolster existing investments based on standard 3.5-inch enterprise infrastructure sustainability through easy drive/system integration, and provide improved levels of system performance, capacity, reliability, and lower power consumption.

“Seagate recognises IT budgets are constrained, and these new 3.5-inch Cheetah drives are aimed directly at helping enable many businesses sensibly grow and scale as their information needs continue, while at the same time providing the reliability required to avoid costly interruption or downtime,” says Seagate Core HDD marketing and strategy VP Sherman Black.

Symantec reported solid earnings Wednesday for its third fiscal quarter, but weak revenue could indicate the company could be facing challenging times ahead, states Channel Web.

Symantec's revenue for the third fiscal quarter ended 2 January fell to $1.51 billion (R15.1 billion) from $1.52 billion (R15.2 billion) in the third quarter of last year. Net income increased 20%, much of it from strong sales in consumer, managed services and storage solutions.

The company also reported a loss of $6.8 billion (R67.8 billion) for the quarter, due to a write down of the value of goodwill on its books. Symantec did not outline specific details of the write down. However, the company beat analysts' expectations.