EMC Profit Propelled by VMware Growth, IPO
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EMC saw a dramatic increase in profit over last year, mainly due to VMware acquisition and IPO.
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EMC Corp.  is working on security  products that would work with VMware Inc  software, EMC  Executive Vice President Arthur Coviello said on Thursday.
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Verizon Communications Inc. VZ.N,  the nation's largest telecommunications company, on Thursday  posted a quarterly profit on asset sales and strong demand at  its Verizon Wireless unit.
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EMC's 20 percent income increase driven in part by the success of its VMware subsidiary.
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EMC Corp. EMC.N, the top maker of  corporate data storage equipment, on Tuesday reported quarterly  profit rose 37 percent amid strong sales of low- and mid-priced  systems and market-share gains from rivals.
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VMware, reporting its first financial results since its I.P.O., said third-quarter profit more than tripled on demand for software that makes computers more efficient.
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EMC Corp. is acquiring SMARTS for approximately $260 million in cash. SMARTS is a fast-growing, privately held provider of event automation and real-time network systems management software.
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The South Korean consumer electronics and appliances company swung to a profit on strong sales of appliances and premium mobile phones.
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Despite the buzz over the public offering of its VMware software business, EMC Corp. of Hopkinton isn't forgetting its roots as a maker of data storage systems. The company will today unveil major upgrades to its key storage products.
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(InfoWorld) - Intel said Monday it plans to buy a $218.5 million stake in the software firm VMware, bolstering the companies' existing agreement to run VMware's virtualization software on Intel's processors. Intel has been selling chips since November 2005 with specialized technology that allows enterprise IT managers to use a VMware application that treats each hardware platform as multiple "virtual" platforms. The companies also cooperate on their marketing and product development strategies. The chip giant will make the purchase through its investment arm, Intel Capital, subject to approval by U.S. antitrust regulators. The purchase will be part ofÂ an IPO, in which VMware plans to sell 10 percent of the company. VMware has not set a date for that sale, but it is expected to happen in the second half of 2007. In addition to purchasing stock, Intel will also gain the power to appoint one of its executives to the VMware board of directors. However, Intel will still hold a minority stake in the company with just 2.5 percent of VMware stock, according to an IPO registration form filed Monday by VMware with the U.S. Securities and Exchange Commission. The majority of VMware stock -- 89 percent -- will be held by EMC, the enterprise data storage company that acquired VMware in January 2004. That investment has paid off well as VMware has grown quickly. VMware revenue rose 82 percent last year, from $387.1 million in 2005 to $703.9 million in 2006. VMware says that growth rate will continueÂ as currently just a small fraction of existing servers and business desktop and notebook PCs use virtualization software. At the same time, many companies use only a portion of their computing power because the latest multicore processors have allowed their processing power to grow faster than workloads. To solve that problem, businesses can use virtualization software to separate the operating system and application software from the underlying hardware. That allows them to combine multiple servers, storage, and networking units into pools of capacity they can allocate to wherever it is needed most, VMware said in the SEC form. Coming so close to VMware's stock offering, Intel's investment is likely to generate greater demand for the new stock, and for the virtualization industry in general, one analyst said. "Intel likes to know it has a more personal stake instead of waiting for market forces to advance the application of virtualization software," said Richard Doherty, research director at The Envisioneering Group. "It's not like that money was gathering dust on their shelf, but Intel's venture arm tends to trigger others to invest in an industry sector too." The purchase also underlines a growing problem for software firms that have historically charged their licensing fees per processor, Doherty said. In this age of quad-core chips and virtualized server networks, that model could spell trouble for enterprise software providers, who could see their customers doing more work with fewer seats of software. By taking a stake in VMware, Intel is indicating that it sees virtualization firms claiming some of that revenue. Also on Monday, VMware launched Lab Manager 2.5, a new version of its lab automation software. IT organizations use the application to efficiently manage their software development and testing labs, save money on IT management and deliver new software applications to market sooner, the company said. In a separate announcement, Borland Software said it would integrate Lab Manager 2.5 with its Lifecycle Quality Management application, SilkCentral Test Manager 2007. Together, those applications will allow software developers to test their applications across multiple configurations using virtual platforms, instead of having to own many separate, physical test labs, Borland said.
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Follows our advice EMC will set its VMware subsidiary somewhat free via an IPO (initial public offering).â¦
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For the second time in two weeks, IBM Corp. will unveil a product designed to challenge its archrival in the data storage business: EMC Corp. of Hopkinton. EMC dominates the market for high-end corporate storage hardware, but IBM's new ''storage virtualization&quot; software could encourage defections from EMC by making it easier for companies to mix and match storage hardware from ...
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Though the macroeconomic picture remains cloudy, major IT vendors, such as Apple, Microsoft, and EMC, for the most part reported solid third-quarter earnings this week, giving technology investors hope for the rest of the year.Thursday was a busy day on Wall Street with Microsoft, EMC, and Motorola reporting.After the market closed,&#160;Microsoft reported a 23 percent quarterly jump in net income, which hit $4.29 billion as demand for Windows and Office software remained strong. Revenue was $13.76 billion, a 27 increase from one year earlier. The company said it was the fastest revenue growth spurt for their first fiscal quarter since 1999, around the height of the dot-com boom. That should help reassure some investors that despite concerns about the U.S. economy, at least certain areas of the IT sector are still managing to show strong growth.In after-hours trading right after the announcement, Microsoft shares rose by $1.98 to $33.98.EMC&#39;s profit jumped&#160;as the data-storage company made gains on the sale of part of its stake in virtualization software maker VMware. EMC reported that net income was $492.9 million, compared with a profit of $283.7 million last year. Revenue jumped to $3.3 billion from $2.8 billion a year earlier. Though much of the gains were from&#160;a one-time sale of part of VMware to Cisco, other parts of the business did well: Software rose 25 percent, storage business sales rose 9 percent, and service grew 25 percent. EMC shares rose $1.92 on the news, to close at $24.45.Motorola, meanwhile, reported an abrupt drop, of 94 percent, in quarterly profit, as it searched to find a follow-up to its Razr mobile phone. Net income was $60 million, while revenue fell 17 percent to $8.81 billion. Nevertheless investors apparently were heartened that the company saw small boosts in the average selling price for mobile devices -- something that even mighty Nokia did not experience last quarter.Motorola forecast earnings from continuing operations for the fourth quarter of $0.12 to $0.14 a share, while analysts had expected earnings of $0.10. So even though profit was way down, company shares managed to jump $0.75 to $19.30 Thursday.Apple kicked off the week on a high note, on Monday reporting solid earnings that were fueled by record Mac sales and shipments of 1.12 million iPhones. The company handily beat analyst estimates with income of $904 million, 67 percent higher than a year earlier. Earnings per share were $1.01. Analysts polled by Thomson Financial had forecast $760.45 million in net income and earnings of $0.84 per share. Apple jumped $11.80 to close at $186.16 the day after its earnings report. Even though Apple shares have been trading at all-time highs, the common wisdom on Wall Street is that things will get even better.Brokerages like Goldman Sachs and UBS reiterated &quot;buy&quot; ratings and Citi Investment Research headlined its report: &quot;The Best Is Yet To Come.&quot; With the new Mac OS, Leopard, going to market on Friday, sales are expected to do well through the holiday season.Still, concerns about the U.S. economy linger. With the price of oil skyrocketing and the housing-market crisis making headlines, investors remain worried that economic concerns will weigh on IT sales. But earnings from the major IT bellwethers over the last few weeks are showing that technology is proving to be resilient, so far.
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EMC said it planned to sell 10 percent of its fast-growing software subsidiary, VMware, in an initial public offering this summer.
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EMC subsidiary VMware is now shipping the first commercial version of its VMware ACE secure PC environment. Version 1.0 of the product was made available for order on VMware's Web site on Dec. 21, a company spokeswoman confirmed Thursday.
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EMC Corp. of Hopkinton plans to turn virtual software into real cash. The company will sell 10 percent of its California software subsidiary VMware Inc. in an initial public offering this year. VMware dominates the field of virtualization software -- programs that let a single computer do the work of several machines.
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NYMEX Holdings Inc. , which owns the largest physical commodities exchange in the world, said on Wednesday quarterly profit more than doubled, helped by growth in electronic commodities trading.