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VMware is EMC's hero!

EMC Corp. reported a 20 percent increase in second quarter net income Tuesday on a 21 percent increase in revenue, driven in part by the success of its VMware subsidiary, a portion of which soon will be spun off in an IPO.

EMC reported net income of US$334.4 million, or $0.16 per share on revenue of $3.12 billion, for the three months ended June 30, compared to net income of $279 million, or $0.12 a share, on revenue of $2.57 billion in the same quarter of 2006.

Contributors to EMC's results included its VMware Inc. subsidiary, a provider of virtualization software, which reported a revenue increase of 89 percent to $298 million. EMC is planning to sell off 10 percent of VMware in an IPO (initial public offering) of stock this quarter. EMC said July 9 that VMware stock would be priced between $23 and $25 a share when it goes on the market.

Well there's a lot more milking to come. Article here.


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