raised its forecast for fourth-quarter revenue Wednesday, thanks to the faster-than-expected completion of its
The company now expects fourth-quarter revenue to range between $1.80 billion and $1.82 billion, reflecting the addition of $30 million to $35 million in sales from Documentum. Prior to the announcement, the consensus estimate of analysts was revenue of $1.76 billion, according to Thomson First Call.
Massachusetts-based EMC, a leader in disk and network storage systems, said it expects to complete the acquisition on Dec. 18.
On Oct. 14, EMC said it would exchange stock worth $1.7 billion to acquire Documentum, a maker of software for content management in storage networks. At the time, EMC said it expected the transaction to close in next year's first quarter, and said it would dilute 2004 earnings by 2 cents a share before turning accretive a year later.