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Joe Tucci, EMC chairman and CEO, said he is very pleased with his company's 2010 results.
"In 2010, we positioned ourselves, not only for 2011, but for 2012 and beyond," Tucci said.
The year 2010 saw EMC and the IT industry as a whole exceed original expectations, giving the company the confidence to increase its goals for 2011, Tucci said.
EMC originally expected 2010 IT spending to grow 3.5 percent over 2009, with EMC's total addressable market to grow by between 6 percent and 8 percent, Tucci said.
Instead, he said, the company now believes that IT spending during 2010 actually grew by about 10 percent, and that EMC's total addressable market grew at between 10 percent and 12 percent, helping propel EMC's overall 19 percent revenue growth for the year.
For 2011, Tucci said he expects overall IT spending to grow between 5 percent and 7 percent, with EMC's total addressable market expected to grow between 8 percent and 10 percent, leading the company to expect a 15 percent revenue growth to $19.6 billion for the year.
The company also expects profit for 2011 to be about $2.4 billion, with earnings per share to hit $1.07 for the year.
Part of that growth will be driven by the portfolio of 41 new hardware and software products EMC unveiled last week, including the company's new VNX midrange and VNXe SMB storage appliances, Tucci said.
However, the growth in business will not include contribution from EMC's Dell partnership, which Tucci said, in response to an analyst's question, is falling.
"For sure, our relationship has moved from strategic to tactical," he said. "For sure, our relationship is now competitive."
Tucci said EMC's sales of its Clariion product line through Dell fell during the fourth quarter, which is historically EMC's strongest quarter. This compares to a growth in sales through its other channel partners of 44 percent during the quarter.
However, Tucci said, EMC and Dell have thousands of joint customers, and will work together to continue serving them with EMC products. However, he said, it is "highly unlikely if not impossible" that Dell will sell EMC's new VNXe line.
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