EMC, the leading data storage company, has reported a 49 per cent rise in fourth-quarter net profits, defying a cooling economy as computer networks continued to collect surging amounts of digital information from every-day life.
The company, which employs 1,700 in Cork and Dublin, said it earned $563 million (€601 million), or 25 US cents a diluted share, beating Wall Street estimates by two cents a share. That compares with earnings of $376.5 million, or 17 US cents a diluted share, in the year-ago period, excluding a one-time restructuring charge of $169.9 million or eight US cents per share.
Analysts, on average, had expected EMC to earn 23 cents a share, according to research firm First Call/Thomson Financial.
A spokeswoman for the company said its Irish and British operations had contributed substantially to the quarterly performance.
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