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EMC Corporation
is leading the way in building the information infrastructure
for a connected world.
EMC is the
world's leading provider of enterprise storage systems, software,
networks, and services, and has become the information storage
and management standard for every major computing platform in
today�s business enterprise.
EMC is the
recognized time-to-market leader in delivering advanced information
management and protection technologies to companies whose success
depends on information. EMC, a Fortune 500 company, was
ranked fifth on the 1999 Business Week 50 list of America�s
best-performing companies, and is a member of the Fortune e-50
index of companies leading the new economy.
EMC, based
in Hopkinton, Massachusetts, employs more than 17,000 people worldwide.
The company�s stock is traded on the New York Stock Exchange under
the symbol EMC and is a component of the S&P 500 Index.
1
Reflects EMC's 1999 acquisition of Data General Corporation for
all periods presented.
2 In addition
to common stock equivalents, diluted earnings per share reflects
the dilutive effects of the Company's convertible debt securities
as outstanding for the respective periods reported above. All
share and per share amounts have been restated to reflect the
stock splits effective November 17, 1997 and May
28, 1999 for all periods presented.
3 In 1999,
the Company incurred charges totaling $223,598 (pre-tax) which
consists of restructuring, merger and asset impairment charges
of $208,246 included in operating expenses and other cost of sales
charges of $15,352. Net income for the year ended December 31,
1999 adjusted to exclude the impact of the
charges was $1,180,468 or $1.07 per diluted share. In 1998, the
Company incurred charges totaling $135,000 consisting of $82,400
of restructuring charges and $52,600 of other cost of sales charges
related to asset write downs. Net income for the year ended December
31, 1998 adjusted to exclude the impact of charges was $788,978
or $0.73 per diluted share.
4 Market capitalization
is as of the fiscal year end for all years presented.
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