EMC reports sluggish first quarter

HOPKINTON, Mass. (Bloomberg) — EMC Corp., the biggest maker of corporate computer-data
storage systems, earned less than forecast in the first quarter because of a slump
in orders from U.S. and European customers. Earnings rose to about 18 cents a
share, EMC said, missing the average forecast of analysts polled by First Call/Thomson
Financial by 2 cents. Sales rose 29 percent to $2.35 billion. EMC, which will
report final results April 19, had year-earlier net income of $332 million, or
15 cents.