EMC Reiterates Guidance

EMC

(EMC)

repeated second-quarter earnings guidance Wednesday that topped the existing Wall Street estimate.

EMC expects to earn 17 cents a share on a non-GAAP basis in the June 30 quarter on sales of at least $2.66 billion. Analysts surveyed by Thomson First Call were forecasting earnings of 16 cents a share on sales of $2.68 billion.

For the year, EMC expects to earn 70 cents to 73 cents a share on a non-GAAP basis on sales that are at the low end of its previously issued range of $11.1 billion to $11.3 billion. The estimate was identical to one given on the company's first-quarter conference call.

Analysts surveyed by Thomson First Call expect EMC to earn 69 cents a share on sales of $11.08 billion for the full year.

The stock was recently down 17 cents, or 1.4%, to $12.18.

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