Corporate storage equipment market leader EMC today posted a second-quarter net profit at the top end of its forecasts, driven by strong demand for its newest equipment.
Chief Executive Mr Joe Tucci said technology and corporate capital spending had improved slightly, but the picture was mixed around the world.
Shares of EMC fell 4.25 per cent in early trade. EMC said it had net income of $82 million, or 4 cents per share, compared with a small profit of $1 million, or nil cents per share.
EMC, WHICH employs more than 1,000 staff in Ireland, is the market leader in equipment used to store big business data, has been battling cut-throat pricing, low demand and a weak economy as it competes with rivals IBM, Hewlett-Packard and Hitachi.
The company sounded a cautious note about its seasonally weak third quarter - which is traditionally flat compared with the second quarter - saying it expected revenues of between $1.45 billion and $1.50 billion and for margins to stay flat.
In discussing the global picture for technology and corporate capital spending, Mr Tucci said the North America and the United Kingdom markets were "showing light at the end of the tunnel," with "budgets tight, but being spent."
Greater China and the south Pacific region look strong, while central Europe and Japan show little sign of a rebound, he said.
Reported sales were boosted by 3 percentage points due to the benefit of a weak US dollar, which increases the value of overseas sales when they are converted into dollars. Forty per cent of EMC revenues come from outside the United States.