Earnings Roundup: EMC, Citrix
Here’s a roundup of quarterly financial results announcements:
EMC reports first quarter results. EMC reported record financial results for the first quarter of 2010 Wednesday. Consolidated revenue was $3.9 billion with records set for quarterly operating cash flow and non-GAAP net income up 70 percent year over year. Joe Tucci, EMC Chairman and CEO said, “our private cloud strategy and focus on four multi-billion dollar markets—each expected to experience rapid growth for many years to come—are resonating very well with customers.” Consolidated revenue from the U.S. increased 29 percent to $2.1 billion in the first quarter. VMware, which is majority-owned by EMC, contributed first quarter revenue of $632 million, increasing 34 percent compared with the first quarter of 2009. The company completed the first quarter with $10.2 billion in cash and investments.
Citrix reports first quarter results. Citrix (CTXS) reported financial results for the first quarter of fiscal 2010, ending March 31, 2010. Revenues of $414 million were up 12 percent from the first quarter of 2009 at $369 million. “We saw strong traction across our strategic markets – virtualization, networking and collaboration – and showed good discipline in our operations, leading to solid increases in revenue and profitability,” said Mark Templeton, president and CEO for Citrix. Citrix also announced that their board of directors has authorized a repurchase of up to $400 million of its common stock. Non-GAAP net income grew to $75 million in the first quarter, compared to $59 million in the comparable period last year. The Xen 4.0 Hypervisor was made available last week, providing performance and scalability gains for any level of enterprise or cloud application workload.