EMC Corporation (NYSE:EMC) today reported record financial results for both the fourth-quarter and full-year 2011. For the fourth quarter, the company achieved all-time record quarterly consolidated revenue, net income and EPS on a GAAP and non-GAAP basis and all-time record operating cash flow and free cash flow. Full-year 2011 results were highlighted by all-time record consolidated revenue, net income, EPS, operating cash flow and free cash flow that each exceeded prior company outlook. The results were also highlighted by all-time record quarterly and full-year gross margins on a GAAP and non-GAAP basis.
Fourth-quarter consolidated revenue was $5.6 billion, an increase of 14% compared with the year-ago quarter. Fourth-quarter GAAP net income attributable to EMC increased 32% year over year to $832.0 million. Fourth-quarter GAAP earnings per weighted average diluted share increased 31% year over year to $0.38. Non-GAAP1 net income attributable to EMC for the fourth quarter was $1.07 billion, an increase of 16% compared with the year-ago quarter. Fourth-quarter non-GAAP1 earnings per weighted average diluted share were $0.49, an increase of 17% year over year.
For the full-year 2011, consolidated revenue was $20.0 billion, an increase of 18% year over year; GAAP net income attributable to EMC increased 30% year over year to $2.5 billion; and GAAP earnings per weighted average diluted share were $1.10, up 25% year over year. Non-GAAP2 net income attributable to EMC for 2011 was $3.4 billion, an increase of 24% year over year, and non-GAAP2 earnings per weighted average diluted share were $1.51, an increase of 20% year over year.
All-Time Quarterly and Full-Year Records
- Q4 and full-year consolidated revenue – up 14% and 18% year over year, respectively
- Q4 and full-year GAAP net income – up 32% and 30% year over year, respectively
- Q4 and full-year non-GAAP net income – up 16% and 24% year over year, respectively
- Q4 and full-year GAAP and non-GAAP gross margins
