EMC’s Q3 profits setto meet expectations

EMC Corporation, the world’s third-largest maker of computer data-storage systems, expects to meet its forecast for Q3 profits, up to 4c a share on an estimated sales rise to between $1.45 billion and $1.5bn.

Second-half sales will grow by an unspecified percentage in the ‘mid-teens’ and gross margin will widen to 48% by the end of 2004, EMC said in a statement.

Chief executive Joe Tucci is rebuilding profit after losses in 2002 and 2001 followed record net income of $1.78bn in 2000. He is pushing sales of more profitable software and services.