said Wednesday that it will meet its previous third-quarter profit guidance, which matches analysts' consensus estimate, and that it expects to be profitable in the rest of 2003 as well.
EMC also said that revenue should increase in the mid-teens for the second half of 2003 and fiscal 2004.
The company projected earnings of 4 cents a share in the third quarter, from a year-ago loss of 2 cents a share. Revenue is expected to be $1.45 billion to $1.5 billion, within analysts' forecast of $1.49 billion.
EMC also forecast gross margins of 48% or greater by the 2004 fourth quarter, but said margins could fluctuate from quarter to quarter, depending on varying revenue growth rates. Gross margin was 43.5% in the second quarter.
The company earned 2 cents a share in the fourth quarter last year, and analysts currently expect the company to earn 6 cents a share this year on revenue of $1.65 billion. For the full year, analysts are looking for a profit of 16 cents a share with sales of $6.01 billion. The company lost 5 cents a share last year on revenue of $5.44 billion.
On July 16 the company said the planned acquisition of
should add to earnings per share slightly in 2004. Analysts currently expect EMC to earn 28 cents a share for 2004.
Shares of EMC were gaining 18 cents to $10.71 on the
New York Stock Exchange