EMC profits show 38% rise

EMC, a maker of corporate data storage systems whose European operation is based in Cork, yesterday reported fourth-quarter earnings well ahead of expectations, despite softer-than-expected growth in its core business.

Profits for the quarter grew 38 per cent to $377 million (€377 million), or 34 cents per share, excluding an acquisition-related charge, compared with $273 million, or 25 cents per share, during the fourth quarter of 1998.