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Table of Contents
EMC CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
No country other than the United States accounted for 10% or more of revenues in 2004, 2003 or 2002.
Long-lived assets, excluding financial instruments and deferred tax assets in the United States were $5,602.4 million at December 31, 2004 and
$4,949.3 million at December 31, 2003. No country other than the United States accounted for 10% or more of these assets at December 31, 2004, 2003 or
2002. Long-lived assets, excluding financial instruments and deferred tax assets, internationally were $262.3 million at December 31, 2004 and
$274.3 million at December 31, 2003.
R. Selected Quarterly Financial Data (unaudited)
Quarterly financial data for 2004 and 2003 is as follows (tables in thousands, except per share amounts):
2004 Q1 2004 Q2 2004 Q3 2004 Q4 2004
Revenues $ 1,871,629 $ 1,971,184 $ 2,028,879 $ 2,357,796
Gross profit 937,669 997,925 1,043,201 1,235,812
Net income 139,805 192,804 218,035 320,545
Net income per share, diluted $ 0.06 $ 0.08 $ 0.09 $ 0.13
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
Quarterly financial data for the fourth quarter of 2004 includes an after-tax restructuring and other special charge which reduced net income by
$20.7 million or $0.01 per diluted share and an income tax expense adjustment decreasing income tax expense which increased net income by $32.2 million
or $0.01 per diluted share.
Quarterly financial data for the first quarter of 2004 includes an after-tax restructuring and other special charge which reduced net income by
$24.7 million or $0.01 per diluted share.
Quarterly financial data for the fourth quarter of 2003 includes an after-tax restructuring and other special charge which reduced net income by
$38.5 million or $0.02 per diluted share.
S. Subsequent Event
In February 2005, we acquired all of the outstanding capital stock of System Management Arts Incorporated ("Smarts") for approximately $260 million in
cash, subject to certain post-closing adjustments. Smarts' software products automatically locate root cause problems, calculate their impacts across
technology domains, and present the logical action plan required to keep business services up and running.
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