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EMC Executive Vice President and CFO David Goulden Discusses EMC’s First-Quarter 2012 Financial Results

EMC announced first-quarter 2012 financial results on April 19th, 2012. EMC’s Executive Vice President and CFO David Goulden, discusses the results below. Additional information regarding EMC’s financial results is available here.

Image: David Goulden - EMC Executive Vice President and CFO
David Goulden - EMC Executive Vice President and CFO

April 19, 2012

An excellent quarter and great start to the year. What should we take away from it?

David Goulden: I am very pleased to report that EMC had a strong start to 2012. As you know, there are major changes happening in IT today and the challenge for all of us is to make sure that we correctly align our businesses to best take advantage of the opportunities that change provides. EMC’s ability to correctly identify and invest in these changes has been a major reason for our success.

What’s driving this success?

David Goulden: We are in a truly unprecedented time of transformation. IT is transforming with the shift to cloud computing. Businesses are transforming as they better leverage Big Data to deliver greater insight and uncover new opportunities. The new threat environment is transforming the way customers think about trust. We at EMC are transforming our portfolio and operations to best take advantage of these major shifts. We believe that we have positioned EMC well and our solid results are ongoing proof that we are executing on our strategy to address the major trends in cloud, Big Data and trust.

Cloud computing and Big Data are transforming IT and business. How is EMC positioned to help customers capitalize on these trends?

David Goulden: For some time now, our vision has been to become the undisputed leader in hybrid cloud computing, and as our results attest, we are making this happen. We have developed a strategy to help customers have the right data in the right place at the right time, where it is secure every step of the way, and where they can make the best use of cloud technology and Big Data assets in a trusted environment. Our product and services portfolio and go-to-market model are evolving as we continue our own transformation to help customers improve business agility, lower costs and enhance their competitive advantage. This unwavering focus and steady execution, supported by the strong secular trends of cloud, Big Data and trust, are what have enabled us to consistently deliver solid financial results.

How would you characterize EMC’s position in information storage?

David Goulden: Looking across our businesses, it is clear that EMC is very well equipped to help customers navigate the waves of change they are facing today. As a foundation for customers’ cloud and Big Data initiatives, our Information Storage business continues to thrive. With varied use cases and data types, EMC’s broad and deep portfolio continues to prove to be best of breed.

How is EMC’s VNX unified storage family doing?

David Goulden: Our VNX family, which we introduced in the first quarter of last year, is living up to our high expectations. Customers and partners like its functionality, simplicity, efficiency and lower cost of ownership. With its unified architecture, unparalleled VMware integration, incorporation of flash for both cache and storage, and ability to automatically tier data with FAST, the VNX continues to win us a bigger footprint with customers. The VNXe, which offers affordable simplicity and efficiency to smaller customers and remote offices, has firmly established EMC as a player in the low end of the market. Since its introduction, the VNX family has brought just under 6,000 brand-new customers to EMC, many of whom have been acquired via the more than 2,000 new channel partners that started selling EMC over the same period of time. Together, the VNX and VNXe allow us to meet a broad set of needs of customers seeking the flexibility of unified storage.

Can you share some insight on Isilon’s scale out NAS growth?

David Goulden: Sure. Isilon continues to flourish. Isilon technology plays an important role among our mid-tier products as it meets customers’ cloud and Big Data requirements across industries and use cases. Our scale-out NAS architecture is exceptionally well-suited for extremely large-scale Big Data needs, and in the first quarter we completed what we believe was the largest-capacity single order in the history of storage – 28 petabytes – with a web company. To put this into perspective, this amount of storage could hold six million movies. And while 28 petabytes is impressive, you would need 37 million petabytes to accommodate the genetic sequence of the entire population of the United States. As you can see, we have a lot more room to grow into some of these emerging Big Data areas! Isilon is being used in more traditional enterprise implementations as well. File-based data that might have been manageable ten years ago has been growing unchecked, reaching petabyte scale in some cases, and this is where Isilon’s scale out architecture is ideal. As our sales force and partners have become much better at identifying the best opportunities for Isilon, we expect to see Isilon increasingly penetrating our existing customer base. Putting the EMC name, reputation, sales force and service levels behind great new technology is a powerful combination, and the result is what we call the EMC Effect.

What is the latest with Greenplum?

David Goulden: Increasingly, businesses are being transformed by their ability to unlock the value of data stored within their organization and in the outside world. We identified this trend early and began making investments to capture the opportunity Big Data presents, starting with the acquisition of Greenplum in 2010. Greenplum has since made great strides in the space with several achievements in the first quarter alone, including: the industry’s first and only enterprise-proven Hadoop solution on a scale-out NAS architecture with Isilon, enabling end-to-end data protection for Hadoop Big Data; the designation as a “Leader” Enterprise Hadoop Solution by Forrester Research as the first to integrate its Hadoop, EDW, and data integration in a single rack; the launch of the industry’s first social toolset for Big Data – Greenplum Chorus –enabling data science teams to collaborate on datasets; the acquisition of Pivotal Labs to accelerate the development of Big Data applications in the enterprise; and not to mention continued very strong year-on-year growth in revenue.

About EMC

EMC Corporation is a global leader in enabling businesses and service providers to transform their operations and deliver IT as a service. Fundamental to this transformation is cloud computing. Through innovative products and services, EMC accelerates the journey to cloud computing, helping IT departments to store, manage, protect and analyze their most valuable asset — information — in a more agile, trusted and cost-efficient way. Additional information about EMC can be found at www.EMC.com

EMC, Greenplum, Isilon, VNX and VNXe are either registered trademarks or trademarks of EMC Corporation in the United States and/or other countries. All other trademarks used are the property of their respective owners.

Forward-Looking Statements

This document contains “forward-looking statements” as defined under the Federal Securities Laws. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including but not limited to: (i) adverse changes in general economic or market conditions; (ii) delays or reductions in information technology spending; (iii) the relative and varying rates of product price and component cost declines and the volume and mixture of product and services revenues; (iv) competitive factors, including but not limited to pricing pressures and new product introductions; (v) component and product quality and availability; (vi) fluctuations in VMware, Inc.’s operating results and risks associated with trading of VMware stock; (vii) the transition to new products, the uncertainty of customer acceptance of new product offerings and rapid technological and market change; (viii) risks associated with managing the growth of our business, including risks associated with acquisitions and investments and the challenges and costs of integration, restructuring and achieving anticipated synergies; (ix) the ability to attract and retain highly qualified employees; (x) insufficient, excess or obsolete inventory; (xi) fluctuating currency exchange rates; (xii) threats and other disruptions to our secure data centers or networks; (xiii) our ability to protect our proprietary technology; (xiv) war or acts of terrorism; and (xv) other one-time events and other important factors disclosed previously and from time to time in EMC’s filings with the U.S. Securities and Exchange Commission. EMC disclaims any obligation to update any such forward-looking statements after the date of this document.

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