LONDON (ShareCast) - Information management company EMC said fourth quarter and 2007 revenues hit record levels, with sales growing faster outside North America than in the company’s domestic market.

EMC’s fourth quarter revenue rose 19% to $3.83bn from $3.21bn in Q4 2006, taking full year revenue to $13.23bn, up 19% on 2006.

Net income calculated according to Generally Accepted Accounting Principles (GAAP) was $525.7m in the fourth quarter, equating to diluted earnings per share of 24 cents, compared with 18 cents a year earlier.

GAAP net income for the whole of 2007 was $1.67bn, equating to diluted earnings per share that were up 43% year-on-year at 77 cents.

Operating cash flow in the fourth quarter totalled $979m, up 50% on the corresponding period of 2006, while free cash flow was up 78% at $712m.

Revenue from professional services, systems maintenance and other services grew by 27% in the fourth quarter and represented 16% of total fourth quarter revenue. Systems revenue saw slower growth, up 15%, to account for 44% of fourth quarter revenue. Software licence and maintenance revenue rose 20% year-on-year and represented 40% of fourth quarter revenue.

Revenue growth in North America was 16% in the fourth quarter from a year previous but was outpaced by international growth; revenue from outside North America rose 23% year-on-year.

“"We exceeded our growth, profitability and free cash flow targets for the fourth quarter and for the year,” stated David Goulden, EMC executive vice-president and chief financial officer.

The company said it expects revenues to expand by 13% to $15bn in 2008, with non-GAAP diluted earnings per share forecast to climb 14% to $1.04.

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