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David Goulden Discusses EMC’s Fourth-Quarter and Full-Year 2013 Financial Results

EMC announced fourth-quarter and full-year 2013 financial results on January 29, 2014. Discussing the results below is David Goulden, CEO of EMC Information Infrastructure and EMC’s Chief Financial Officer. Additional information regarding EMC’s financial results is available here.

Image: David Goulden - CEO of EMC Information Infrastructure and EMC’s Chief Financial Officer
David Goulden - CEO of EMC Information Infrastructure and EMC’s Chief Financial Officer

January 29, 2014

An excellent quarter and end to 2013. What should we take away from the results?

David Goulden: EMC’s outperformance relative to the industry demonstrates the strength of our strategy. We are making the right bets, investing in the best technology, and building the most complete portfolio to transition customers from the second platform of IT to the mobile, social, cloud and Big Data-driven third platform. We feel very good about where we are right now and where we go from here. The second platform of IT continues to support the vast majority of enterprise workloads, and customers continue to add to these environments. We are a market leader here and will continue to gain share in second platform. At the same time, we have more plays in the third platform of IT than anyone else, and establishing this beachhead helps ensure our market leadership will extend far into the future. Additionally, we are better equipped than anyone else to help customers bridge the gap as they transition from the second to the third platform, with technologies like converged infrastructure, where we are the market leader; EMC ViPR, where we are unique in our ability to provide such far-reaching and sophisticated software-defined storage; and the software-defined data center capabilities of the vCloud suite.

How is Pivotal doing?

David Goulden: In the nine months since formation, Pivotal met all the objectives it set out to accomplish in 2013 – meeting its financial goals, putting a strong executive leadership team in place, and launching an integrated technology platform, PivotalOne. The basis of PivotalOne, Cloud Foundry, is gaining momentum to become the standard for platform as a service (PaaS), with industry leaders such as GE, IBM, SAP, NTT, Intel, Symantec, Orange, Verizon and Swisscom all having committed to the platform. With customers’ desire to build out their new applications on more open standards and avoid vendor lock-in, we expect to grow this list to several times this number over the course of 2014.

In addition to proliferating Cloud Foundry as the industry-standard PaaS in 2014, we are also concentrating efforts on providing the software and value-added services supporting the PivotalOne platform and Big Data analytics solutions. Pivotal has the modern data and application fabrics that enterprises are looking for to build their third platform applications. What is most important here is market adoption, and as our storage, security and VMware customers build out third platform technologies to drive competitive advantage for their business, Pivotal is already proving to be an invaluable asset.

EMC XtremIO became generally available in Q4, how is it going?

David Goulden: After less than two months of general availability, XtremIO has catapulted to a market-leading position. By any measure, bookings or revenue, we believe XtremIO has comfortably surpassed every other all-flash array vendor because it offers incredible value – a powerful scale-out architecture that outperforms the competition; incredible capacity utilization and efficiency technology, with data services that are always on; the most consistent and predictable performance in the industry; and it is easy to use and manage. This momentum is meaningful in a market that is expected by industry research firm IDC to reach $1.2 billion in 2015.

How is EMC helping customers leverage the benefits of software-defined-storage with EMC ViPR?

David Goulden: ViPR got off to a very strong start in Q4, having amassed almost three times the number of customers originally targeted for the quarter. No other storage solution on the market today can help customers bridge from the second to the third platform the way ViPR can – with a simple, extensible and open architecture that substantially lowers the costs associated with existing environments while accommodating new ones. EMC is fostering adoption and collaboration on ViPR by making the ViPR Controller free to academia and for non-production use and easily available via a simple download. The ViPR Data Plane provides the object, HDFS and other Software Defined Storage Data Services that customers can run on existing arrays or on dense commodity hardware. With the recent addition of ViPR’s HDFS data service, we are driving even more value, as ViPR HDFS, used in conjunction with Pivotal, will enable customers to build next-generation data lakes. We have a very exciting roadmap for ViPR and ViPR-related products in 2014.

EMC’s Service Provider Program had a strong quarter. Can you talk about what’s driving its growth?

David Goulden: Revenue from our Service Provider Partner Program continues to grow at several times the rate of our other industry verticals. This growth has been helped, in part, by VCE. Vblocks enable service providers to quickly introduce new services and easily scale services up or down as needed, value props that are instrumental to service provider success. In fact, four of VCE’s five largest customers in 2013 are service providers buying Vblocks to run cloud services for their customers.

Any insight into what’s ahead for EMC?

David Goulden: We are excited about all we can accomplish in 2014 given our position of strength. We are working with our very large installed base of loyal customers and with leading-edge technology for every layer of the IT stack – products and services for the infrastructure layer that include best-of-breed storage arrays, software-defined storage, converged infrastructure and information security; solutions for the virtualization layer that enable the software-defined data center, hybrid cloud and end-user computing, with over 40 million virtual machines powering the world’s largest organizations; and a cloud-agnostic platform as a service offering that in less than a year has become the PaaS offering of choice for enterprises looking to build out next-gen apps that harness the power of Big Data. This combination gives us a strong play in the second platform, which will continue to support the majority of enterprise workloads for several years to come; leading technologies and products for the third platform; and a powerful capability to bridge the gap between the two.

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, ViPR and XtremIO are registered 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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