E=MC Scared
by John Paczkowski
Posted on January 27, 2009 at 7:28 AM PT
EMC posted fourth-quarter financials today, reporting sales that were basically in line with projections and earnings that slipped 45 percent from a year ago. Though its profits sank, the company managed to hit all its financial marks for the fourth quarter–something it won’t be doing in the current one. Because the world-wide economic situation has grown so grim and uncertain, EMC (EMC) has opted not to provide a first-quarter projection, let alone a full-year outlook. Why risk setting expectations too high, right?
“Due to the current macro-economic conditions and limited visibility, EMC is not offering revenue, EPS or other financial outlook at this time, the company said in a statement. “EMC’s best estimate is that 2009 global IT spending will decline as a percentage in the mid to high single digits compared with 2008. The company expects the markets that it addresses will perform slightly better than the overall IT market. The company also expects that a higher than usual percentage of the full-year IT spending will take place in the second half of the year.”
