EMC said its revenues for the quarter rose in large part due to the launch of its new high-end storage system, the Symmetrix DMX, which it claims made up more than half of the company's Symmetrix product line sales. The new product brought the company $575 million during the quarter (see EMC Soups Up Symm, EMC vs HDS: Bandwidth Brawl, Does EMC's DMX Measure Up?, and EMC's DMX a Slow Starter?).
"We promised that in 2003 we would have the best and broadest product portfolio," EMC president and CEO Joe Tucci said on an earnings call this morning. "We now have a very robust product line I believe we're poised for continued growth."
Interestingly, it wasn't the company's smallest version of the DMX, the 800, that accounted for the most growth, but the high-end DMX 1000 and 2000 arrays. "The bigger ones actually overshot what we expected, and the 800 slightly undershot expectations," Tucci said.
In addition to the DMX revenue boost, EMC says its storage service revenues also jumped 28 percent.
You could almost hear the analysts breathing a sigh of relief. "We're all pleasantly surprised that the higher-end models accounted for the most growth," says A.G. Edwards analyst Shebly Seyrafi, pointing out that this helped the company's impressive gross margin improvements during the quarter.
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