EMC 2003 Annual Report Download - page 66

Information storage software 1,343,569 1,233,093 1,560,022
Total information storage products $4,658,255 $4,218,393 $5,867,266
Our management makes financial decisions and allocates resources based on revenues and gross profit achieved at the segment level. We do not allocate
SG&A or R&D expenses to each segment, as management does not use this information to measure the performance of the operating segments. The revenues
and gross profit attributable to these segments are included in the following table (table in thousands):
2003
Information
Storage
Products
Information
Storage
Services
Documentum
Products and
Services
LEGATO
Products and
Services
Other
Businesses Consolidated
Revenues $4,658,255 $1,371,012 $ 30,731 $ 77,299 $ 99,511 $6,236,808
Gross profit 2,002,069 700,031 26,449 60,046 53,463 2,842,058
Gross profit percentage 43.0% 51.1% 86.1% 77.7% 53.7% 45.6%
2002
Revenues $4,218,393 $1,078,367 $ – $ – $141,592 $5,438,352
Gross profit 1,542,728 (1) 449,299 – – 65,257 2,057,284 (1)
Gross profit percentage 36.6% 41.7% – – 46.1% 37.8%
2001
Revenues $5,867,266 $ 972,274 $ – $ – $251,093 $7,090,633
Gross profit 2,697,936 (2) 373,294 – – 92,427 3,163,657 (2)
Gross profit percentage 46.0% 38.4% – – 36.8% 44.6%
Excludes the benefit of $61.6 million related to the sale of previously identified obsolete inventory as management does not include these costs in its
evaluation of segment performance. See Note C.
Excludes $320.1 million provision for excess and obsolete inventory and impaired capitalized software as management does not include these costs in
its evaluation of segment performance. See Note C.
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EMC CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Our revenues are attributed to the geographic areas according to the location of the customers. Revenues by geographic area are included in the following
table (table in thousands):
2003 2002 2001
United States $3,627,503 $3,147,613 $4,032,190
Other North America 113,156 77,755 153,214
Total North America 3,740,659 3,225,368 4,185,404
Europe, Middle East, Africa 1,645,053 1,327,810 1,774,889
Asia Pacific 709,433 769,788 893,373
Latin America 141,663 115,386 236,967
Total International 2,496,149 2,212,984 2,905,229
Total $6,236,808 $5,438,352 $7,090,633
No country other than the United States accounted for 10% or more of revenues in 2003, 2002 or 2001.
Long-lived assets, excluding financial instruments, intangible assets, and deferred tax assets, in the United States were $1,405.4 million at December 31,
2003, $1,419.6 million at December 31, 2002 and $1,551.5 million at December 31, 2001. No country other than the United States accounted for 10% or more
of these assets at December 31, 2003, 2002 or 2001. Long-lived assets, excluding financial instruments, intangible assets and deferred tax assets,
internationally were $204.8 million at December 31, 2003, $204.8 million at December 31, 2002 and $275.8 million at December 31, 2001.
R. Selected Quarterly Financial Data (unaudited)
Quarterly financial data for 2003 and 2002 is as follows (tables in thousands, except per share amounts):
2003 Q1 2003 Q2 2003 Q3 2003 Q4 2003
Revenues $1,384,151 $1,479,300 $1,510,847 $1,862,510
Gross profit 597,821 644,082 675,117 925,038
Net income 35,183 81,739 159,089 220,097
Net income per share, diluted $ 0.02 $ 0.04 $ 0.07 $ 0.09
2002 Q1 2002 Q2 2002 Q3 2002 Q4 2002
(1)
(2)