EMC 2003 Annual Report Download - page 3

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ITEM 3. Legal Proceedings 12
ITEM 4. Submission of Matters to a Vote Of Security Holders 12
PART II
ITEM 5. Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 16
ITEM 6. Selected Consolidated Financial Data 17
ITEM 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 18
ITEM 7A. Quantitative and Qualitative Disclosures About Market Risk 47
ITEM 8. Financial Statements and Supplementary Data 49
ITEM 9. Changes In and Disagreements With Accountants On Accounting and Financial Disclosure 100
ITEM 9A. Controls and Procedures 100
PART III
ITEM 10. Directors and Executive Officers of the Registrant 100
ITEM 11. Executive Compensation 100
ITEM 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 100
ITEM 13. Certain Relationships and Related Transactions 100
ITEM 14. Principal Accountant Fees and Services 100
PART IV
ITEM 15. Exhibits, Financial Statement Schedules, and Reports on Form 8-K 101
Signatures 102
FACTORS THAT MAY AFFECT FUTURE RESULTS
This Annual Report on Form 10-K contains forward-looking statements, within the meaning of the Federal securities laws, about our business and
prospects, including without limitation statements regarding the following for 2004: our expected revenues, gross margin percentages, research and
development expenses and selling, general and administrative expenses as a percentage of revenues, investment income, income tax rate and depreciation and
amortization expenses. The forward-looking statements do not include the potential impact of any mergers, acquisitions, divestitures or business combinations
that may be completed after the date hereof. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking
statements. Without limiting the foregoing, the words "believes," "plans," "intends," "expects," "intends," "goals" and similar expressions are intended to
identify forward-looking statements, although not all forward-looking statements contain these words. Our future results may differ materially from our past
results and from those projected in the forward-looking statements due to various uncertainties and risks, including those described in the section of this report
titled "Management's Discussion and Analysis of Financial Condition and Results of Operations–Factors That May Affect Future Results." We disclaim any
obligation to update any forward-looking statements contained herein after the date of this Annual Report.
PART I
ITEM 1. BUSINESS
General
EMC Corporation and its subsidiaries design, manufacture, market and support a wide range of networked storage products and information storage and
management software that are designed to enable organizations of all sizes to extract the maximum value from their information, at the lowest total cost,
across every point in the information lifecycle. We also offer extensive services for information storage and management. Our strategy and vision is to focus
on the management of information across its entire lifecycle from creation and use to archive and disposal. By doing so, we help customers improve the
utilization of their information technology (IT) assets, simplify and automate the management of their information, provide cost-effective business continuity
and ensure easier compliance with government and industry regulations and corporate governance requirements. Our best-of-breed technology and depth of
services expertise are focused on helping customers implement information lifecycle management.
The customers for our products are located worldwide and represent a cross-section of industries and government agencies. Our customers use our
products and services in conjunction with a variety of computing platforms, storage systems and software applications that support key business processes,
including transaction processing, enterprise resource planning, customer relationship management, data warehousing, electronic commerce, content
management, business intelligence and web hosting. Our products enable them to consolidate, network and generate value from their digital information
across heterogeneous storage systems, switches, hubs, servers and software.
We believe that our products and services enable our customers to realize higher returns on information and achieve competitive advantages.
We were incorporated in Massachusetts in 1979. Our corporate headquarters are located at 176 South Street, Hopkinton, Massachusetts.
Products and Offerings
Our principal segments consist of information storage products, Documentum products and services, LEGATO products and services and information
storage services. We established our