EMC (NYSE: EMC) returned to growth in the fourth quarter of 2009 for the first time in a year, thanks to double-digit sales growth in its data storage systems and greater than 50 percent growth in data deduplication.
EMC released its quarterly results today. Sales were up 2 percent year-over-year to $4.1 billion, topping the $4.03 billion Thomson Reuters consensus forecast. Non-GAAP earnings were $695.5 million, or 33 cents a share, also better than expected.
EMC ended the quarter with $9.4 billion in cash and investments.
The data storage giant said it expects 2010 sales of $16 billion, up 14 percent from 2009 and well above $15.45 billion estimates, and earnings of $1.12 a share, also ahead of analysts' forecasts.
On a conference call with analysts, CFO David Goulden said the strong results were driven by double-digit growth across its Clariion, Celerra and Symmetrix storage arrays, and greater than 50 percent growth in its Data Domain and Avamar dedupe products. Solid demand for its new Symmetrix V-Max systems and fully automated storage tiering (FAST) technology also helped boost sales.
Goulden also revealed that the company won a 1.4 petabyte deal at "a major New York-based stock exchange" over rival NetApp (NASDAQ: NTAP).
CEO Joe Tucci said he expects 3 to 5 percent growth in IT spending this year, 6 to 7 percent growth in storage, and 15 to 20 percent in virtualization spending a prediction underscored by the blow-out results reported by virtualization leader VMware (NYSE: VMW) last night, which is majority owned by EMC.
EMC also reported strong demand for its RSA security solutions, Iomega products and its consulting and professional services.
Follow Enterprise Storage Forum on Twitter