Meanwhile, EMC said it expects its acquisition of Legato Systems Inc. (Nasdaq: LGTO) to close next Monday, Oct. 20. It will recognize a $30 million to $60 million charge for in-process R&D and integration costs associated with that deal, Teuber said.
EMC said it plans to merge its EMC Data Manager (EDM), EMC Replication Manager (ERM), and Avalon product lines with Legato's existing R&D. The company has appointed Mark Sorenson, who joined EMC from Hewlett-Packard Co. (NYSE: HPQ) earlier this summer, to head Legato's R&D unit.
Including revenues from Legato, EMC expects revenues for the fourth quarter to be between $1.74 billion and $1.78 billion. The company expects earnings of $0.07 per share, excluding charges associated with the Legato deal, and $0.05 per share including those charges.
EMC executives said the company is on track to generate 27 percent of revenues from software by the end of 2004. While Tucci did not rule out future acquisitions in the software arena, he told analysts: "Am I actively hunting for another software acquisition? The answer is no."
Todd Spangler, US Editor, Byte and Switch
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