Boston, MA 02/10/2014 (wallstreetpr) – Data storage magnet EMC Corporation (NYSE:EMC) posted strong solid results for its fourth quarter of F2013 that was slightly overshadowed by a weak outlook for F2014 in contrast to consensus estimates. EMC is poised for an even better F2014 as US retailers turn to makers of security for help in the storing of anti-hacking defenses. The data storage specialist is banking on increased sales in F2013, a trend it expects to maintain in the coming quarters of F2014.
EMC increased sales
The fourth quarter saw EMC Corporation (NYSE:EMC) sales climb the market to a high of 11% on a year over year to clock a high of $6.7 billion. As a result of increased sales the company’s Non GAAP earnings jumped to an all-time high of 11% resulting in earnings per diluted shares of $0.60. This result slightly beat consensus estimates of earnings per share of $0.59 on a revenue of $6.6 billion.
EMC guidance for F2014
EMC Corporation (NYSE:EMC) expects the sales for full year to clock in at $24.5 billion with sales of $5.4 billion expected for the first quarter of F2014. This is a weak guidance considering analysts expectation of full year revenue of $25 billion with revenues of $5.8 billion or the first quarter. The earnings also came in slightly below par compared to Street views.
EMC Chief Executive Officer was quick to point to investors that EMC was trying to focus more on the game changing mega trends of mobile social and big data. This has been viewed as the biggest sectors of the world economies with the constant development of new smartphones in the market thus skyrocketing the need for data supply.
Friday’s trading session saw (NYSE:EMC) shares trading conservatively in the market clocking highs of $24.49 a share a slight increment of 1.37%.
