Exhibit 99.1

Contact:    Dave Farmer

                  508-293-7206

                  farmer_dave@emc.com

EMC REPORTS THIRD-QUARTER

2009 FINANCIAL RESULTS;

REVENUE AHEAD OF COMPANY EXPECTATIONS

Highlights

• Third-quarter consolidated revenue up 8% sequentially; Ahead of prior company outlook of 4% to 5% sequential growth

• Third-quarter GAAP net income up 45% sequentially; Non-GAAP net income up 34% sequentially

• Third-quarter GAAP diluted EPS up 40% sequentially; Non-GAAP diluted EPS up 28% sequentially

• Strong sequential increase in gross and operating margins

• Year-to-date operating cash flow – $2.3 billion; Year-to-date free cash flow – $1.8 billion

HOPKINTON, Mass. – October 22, 2009 – EMC Corporation (NYSE:EMC), the world leader in information infrastructure solutions, today reported third-quarter 2009 consolidated revenue that exceeded company expectations for the quarter. The company achieved third-quarter revenue of $3.52 billion, an increase of 8% compared with the second quarter of 2009. The results exceeded previous company outlook of 4% to 5% sequential revenue growth. Third-quarter GAAP net income attributable to EMC reached $298.2 million, an increase of 45% sequentially and GAAP diluted earnings per share were $0.14, an increase of 40% sequentially. Third-quarter 2009 non-GAAP¹ net income attributable to EMC increased 34% sequentially, reaching $480.3 million or $0.23 per diluted share, an increase of 28% sequentially.

Third-quarter consolidated revenue of $3.52 billion declined 5% compared with the year-ago period. Third-quarter 2009 GAAP net income attributable to EMC compares with $393.4 million or $0.19 per diluted share for the third quarter of 2008 and third-quarter 2009 non-GAAP net income attributable to EMC compares with $510 million or $0.24 per diluted share achieved in the third quarter of 2008.²

In the third quarter, EMC generated operating cash flow of $888 million and free cash flow of $745 million and ended the quarter with cash and investments of $8.4 billion. Year to date, EMC has generated operating cash flow of $2.3 billion and free cash flow of $1.8 billion.

Joe Tucci, EMC Chairman and Chief Executive Officer, said, “I am very pleased with EMC’s solid financial performance in a challenging economic climate. While remaining closer than ever to customers, we made additional progress optimizing our cost structure, expanded our product portfolio, strengthened our partner ecosystem and positioned EMC to capitalize on four of the higher-growth, multi-billion-dollar market opportunities around fully virtualized data centers, cloud computing, virtualized desktops and clients, and next-generation backup and recovery. I am extremely proud of the EMC and VMware people around the world who achieved these results.”

Commenting further, Tucci said, “Customers are signaling more comfort spending their IT budgets, which gives EMC confidence in our ability to perform well and achieve our full-year 2009 targets. We are strategically aligned with the major technology shifts and well positioned to play a pivotal role in the IT industry for the next decade.”

David Goulden, EMC Executive Vice President and Chief Financial Officer, said, “EMC achieved solid sequential revenue and profit growth while continuing to generate strong free cash flow. Combined with a continued disciplined focus on cost control, this helped EMC deliver improved gross and operating margins, highlighting the resilience of our financial model and our crisp execution. We remain committed to driving growth and operating leverage through our business, while continuing to invest in strategic growth opportunities to further extend EMC’s market leadership.”

Third-Quarter Business Highlights

EMC’s Information Infrastructure business for the third quarter – comprising product and services revenue from Information Storage, RSA Security, and Content Management and Archiving – reached $3.03 billion, an increase of 8% sequentially. The Information Infrastructure business was driven by strong sequential growth of the market-leading EMC Symmetrix high-end storage systems including strong adoption of the new EMC Symmetrix V-Max line, EMC next-generation backup and recovery solutions and EMC Celerra unified storage systems. Further third-quarter highlights included customer demand for EMC’s RSA information security solutions, consumer and small business-focused Iomega products, content management and archiving solutions, and EMC’s broad consulting and professional services portfolio.

VMware (NYSE: VMW), which is majority-owned by EMC, contributed third-quarter revenue of $489 million.

EMC consolidated third-quarter revenue from the United States reached $1.90 billion, up 13% sequentially, and represented 54% of total third-quarter revenue. Revenue from EMC’s operations outside of the United States reached $1.62 billion, up 3% sequentially, and represented 46% of total third-quarter revenue.

Business Outlook

The following statements are based on current expectations. These statements are forward-looking, and actual results may differ materially. These statements do not give effect to the potential impact of mergers, acquisitions, divestitures or business combinations that may be announced or closed after the date hereof. These statements supersede all prior statements regarding business outlook and certain items impacting 2009 set forth in prior EMC news releases.

All dollar amounts and percentages set forth below should be considered to be approximations.

• Consolidated EMC revenues are expected to be $4.0 billion for the fourth quarter of 2009 and $13.9 billion for 2009.

• Consolidated GAAP diluted earnings per share are expected to be $0.21 for the fourth quarter of 2009 and $0.55 for 2009.

• Consolidated non-GAAP diluted earnings per share, excluding the impact of restructuring charges, stock-based compensation expense and intangible asset amortization, are expected to be $0.30 for the fourth quarter of 2009.

• Consolidated non-GAAP diluted earnings per share, excluding the impact of restructuring and acquisition-related charges, stock-based compensation expense, intangible asset amortization and gains recognized from holdings in Data Domain and SpringSource common stock, are expected to be $0.87 for 2009.

• Consolidated restructuring charges, stock-based compensation expense and intangible asset amortization are expected to be $0.01, $0.06 and $0.02 per diluted share, respectively, for the fourth quarter of 2009.

• Consolidated restructuring and acquisition-related charges, stock-based compensation expense and intangible asset amortization are expected to be $0.04, $0.21 and $0.08 per diluted share, respectively, for 2009. Offsetting these charges is a $0.01 per diluted share gain recognized from holdings in Data Domain and SpringSource common stock.

• The consolidated GAAP income tax rate is expected to be 13% for 2009. Excluding the impact of restructuring and acquisition-related charges, stock-based compensation expense, intangible asset amortization and gains recognized from holdings in Data Domain and SpringSource common stock, which collectively impact the tax rate by 6%, the consolidated non-GAAP income tax rate is expected to be 19% for 2009.

• The weighted average outstanding diluted shares are expected to be 2.12 billion for the fourth quarter of 2009.

• In 2010, cost reduction actions are expected to generate savings of $500 million compared with 2008.

Supporting Resources

• EMC will host its 2009 third-quarter earnings conference call today at 8:30 a.m. ET, which will be available on EMC’s web site at http://www.emc.com/about/investor-relations/index.htm

• Additional information regarding EMC’s financials, as well as a webcast of the conference call, will be available at 8:30 a.m. ET at http://www.emc.com/about/investor-relations/index.htm

• Visit http://ir.vmware.com for more information about VMware’s third-quarter financial results.

# # #

¹Items excluded from the non-GAAP results are gains on Data Domain and SpringSource common stock, restructuring and acquisition-related charges, stock-based compensation expense and intangible asset amortization for the third quarter of 2009 and restructuring charge, special income tax benefit, stock-based compensation expense and intangible asset amortization for the third quarter of 2008. See attached schedules for reconciliation of GAAP to non-GAAP.

²The results for 2008 have been adjusted to give effect to the adoption of authoritative guidance relating to non-controlling interests and the accounting for convertible debt instruments.

EMC, Celerra, Symmetrix and V-Max are registered trademarks of EMC Corporation. RSA is a registered trademark of RSA Security Inc. VMware is a registered trademark of VMware, Inc. Iomega is a registered trademark of Iomega Corporation. Data Domain is a registered trademark of Data Domain, Inc. SpringSource is a registered trademark of SpringSource, Inc. All other trademarks used are the property of their respective owners.

Forward-Looking Statements

This release contains “forward-looking statements” as defined under the Federal Securities Laws. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including but not limited to: (i) adverse changes in general economic or market conditions; (ii) delays or reductions in information technology spending; (iii) our ability to protect our proprietary technology; (iv) risks associated with managing the growth of our business, including risks associated with acquisitions and investments and the challenges and costs of integration, restructuring and achieving anticipated synergies; (v) fluctuations in VMware, Inc.’s operating results and risks associated with trading of VMware stock; (vi) competitive factors, including but not limited to pricing pressures and new product introductions; (vii) the relative and varying rates of product price and component cost declines and the volume and mixture of product and services revenues; (viii) component and product quality and availability; (ix) the transition to new products, the uncertainty of customer acceptance of new product offerings and rapid technological and market change; (x) insufficient, excess or obsolete inventory; (xi) war or acts of terrorism; (xii) the ability to attract and retain highly qualified employees; (xiii) fluctuating currency exchange rates; (xiv) litigation that we may be involved in; and (xv) other one-time events and other important factors disclosed previously and from time to time in EMC’s filings with the U.S. Securities and Exchange Commission. EMC disclaims any obligation to update any such forward-looking statements after the date of this release.

Use of Non-GAAP Financial Measures

This release contains non-GAAP financial measures. These non-GAAP financial measures, which are used as measures of EMC’s performance or liquidity, should be considered in addition to, not as a substitute for, measures of EMC’s financial performance or liquidity prepared in accordance with GAAP. EMC’s non-GAAP financial measures may be defined differently from time to time and may be defined differently than similar terms used by other companies, and accordingly, care should be exercised in understanding how EMC defines its non-GAAP financial measures in this release.

Where specified in the accompanying schedules for various periods entitled “Reconciliation of GAAP to Non-GAAP,” certain items noted on each such specific schedule (including, where noted, amounts relating to gains on Data Domain and SpringSource common stock, restructuring and acquisition-related charges, stock-based compensation expense, intangible asset amortization, special income tax benefit and restructuring charge) are excluded from the non-GAAP financial measures.

EMC’s management uses the non-GAAP financial measures in the accompanying schedules to gain an understanding of EMC’s comparative operating performance (when comparing such results with previous periods or forecasts) and future prospects and excludes the above-listed items from its internal financial statements for purposes of its internal budgets and each reporting segment’s financial goals. These non-GAAP financial measures are used by EMC’s management in their financial and operating decision-making because management believes they reflect EMC’s ongoing business in a manner that allows meaningful period-to-period comparisons. EMC’s management believes that these non-GAAP financial measures provide useful information to investors and others (a) in understanding and evaluating EMC’s current operating performance and future prospects in the same manner as management does, if they so choose, and (b) in comparing in a consistent manner the Company’s current financial results with the Company’s past financial results.

This release also includes disclosures regarding free cash flow which is a non-GAAP financial measure. Free cash flow is defined as net cash provided by operating activities less additions to property, plant and equipment and capitalized software development costs. EMC uses free cash flow, among other measures, to evaluate the ability of its operations to generate cash that is available for purposes other than capital expenditures and capitalized software development costs. Management believes that information regarding free cash flow provides investors with an important perspective on the cash available to make strategic acquisitions and investments, repurchase shares, service debt and fund ongoing operations. As free cash flow is not a measure of liquidity calculated in accordance with GAAP, free cash flow should be considered in addition to, but not as a substitute for, the analysis provided in the statement of cash flows.

All of the foregoing non-GAAP financial measures have limitations. Specifically, the non-GAAP financial measures that exclude the items noted above do not include all items of income and expense that affect EMC’s operations. Further, these non-GAAP financial measures are not prepared in accordance with GAAP, may not be comparable to non-GAAP financial measures used by other companies and do not reflect any benefit that such items may confer on EMC. Management compensates for these limitations by also considering EMC’s financial results as determined in accordance with GAAP.

EMC CORPORATION

Consolidated Income Statements

(in thousands, except per share amounts)

Unaudited

	Three Months Ended						Nine Months Ended
	September 30, 2009			September 30, 2008			September 30, 2009			September 30, 2008
				(As Adjusted)						(As Adjusted)
Revenues:
Product sales	$	2,200,581		$	2,492,941		$	6,174,971		$	7,295,022
Services		1,317,049			1,222,651			3,750,773			3,564,503
		3,517,630			3,715,592			9,925,744			10,859,525
Cost and expenses:
Cost of product sales		1,107,400			1,156,063			3,177,935			3,350,199
Cost of services		470,013			500,809			1,380,559			1,512,641
Research and development		422,092			410,793			1,203,266			1,286,809
Selling, general and administrative		1,177,775			1,172,579			3,253,752			3,390,468
In-process research and development		—			—			—			79,204
Restructuring and acquisition-related charges		34,781			4,398			83,587			4,041
Operating income		305,569			470,950			826,645			1,236,163
Investment income		38,106			56,717			109,293			192,587
Interest expense		(46,227	)		(44,501	)		(135,928	)		(131,614	)
Other income (expense), net		28,022			(13,313	)		17,281			(20,887	)
Income before tax		325,470			469,853			817,291			1,276,249
Income tax provision		20,602			63,309			96,462			244,060
Net income		304,868			406,544			720,829			1,032,189
Less: Net income attributable to the non-controlling interests in VMware, Inc.		(6,688	)		(13,133	)		(23,348	)		(27,007	)
Net income attributable to EMC Corporation	$	298,180		$	393,411		$	697,481		$	1,005,182
Net income per weighted average share, basic:
common shareholders:	$	0.15		$	0.19		$	0.35		$	0.49
Net income per weighted average share, diluted:
common shareholders:	$	0.14		$	0.19		$	0.34		$	0.48
Weighted average shares, basic		2,027,347			2,048,594			2,015,920			2,060,952
Weighted average shares, diluted		2,065,951			2,077,474			2,038,984			2,095,116

Reconciliation of GAAP to Non-GAAP

For the Three Months Ended September 30, 2009

(in thousands, except per share amounts)

Unaudited

	Revenue			Cost of Revenue			Research and Development			Selling, General and Administrative			Restructuring and Acquisition- Related Charges			Operating Income		Other Income (Expense), net			Income Before Taxes			Income Tax Provision			Net Income			Net Income Attributable to VMware			Net Income Attributable to EMC			Net Income per Weighted Average Share, Basic			Net Income per Weighted Average Share, Diluted
EMC Consolidated GAAP	$	3,517,630		$	1,577,413		$	422,092		$	1,177,775		$	34,781		$	305,569	$	19,901		$	325,470		$	20,602		$	304,868		$	(6,688	)	$	298,180		$	0.147		$	0.144
Gain on Data Domain and SpringSource common stock		—			—			—			—			—			—		(25,822	)		(25,822	)		—			(25,822	)		1,025			(24,797	)	$	(0.012	)	$	(0.012	)
Restructuring and acquisition-related charges		—			(12,485	)		—			—			(34,781	)		47,266		—			47,266			14,724			32,542			(135	)		32,407		$	0.016		$	0.016
EMC Consolidated Adjusted (1)		3,517,630			1,564,928			422,092			1,177,775			—			352,835		(5,921	)		346,914			35,326			311,588			(5,798	)		305,790		$	0.151		$	0.148
Stock-based compensation expense		—			(27,106	)		(62,557	)		(99,915	)		—			189,578		—			189,578			47,078			142,500			(9,181	)		133,319		$	0.066		$	0.065
Intangible asset amortization		—			(34,121	)		(3,261	)		(25,903	)		—			63,285		—			63,285			21,651			41,634			(405	)		41,229		$	0.020		$	0.020
EMC Consolidated Non-GAAP (2)	$	3,517,630		$	1,503,701		$	356,274		$	1,051,957		$	—		$	605,698	$	(5,921	)	$	599,777		$	104,055		$	495,722		$	(15,384	)	$	480,338		$	0.237		$	0.232
EMC Information Infrastructure GAAP	$	3,028,725		$	1,481,485		$	289,715		$	944,637		$	34,008		$	278,880	$	14,334		$	293,214		$	26,897		$	266,317		$	—		$	266,317		$	0.131		$	0.129
Gain on Data Domain common stock		—			—			—			—			—			—		(19,963	)		(19,963	)		—			(19,963	)		—			(19,963	)	$	(0.010	)	$	(0.010	)
Restructuring and acquisition-related charges		—			(12,485	)		—			—			(34,008	)		46,493		—			46,493			14,724			31,769			—			31,769		$	0.016		$	0.015
EMC Information Infrastructure Adjusted (3)		3,028,725			1,469,000			289,715			944,637			—			325,373		(5,629	)		319,744			41,621			278,123			—			278,123		$	0.137		$	0.135
Stock-based compensation expense		—			(17,608	)		(28,307	)		(76,146	)		—			122,061		—			122,061			32,023			90,038			—			90,038		$	0.044		$	0.044
Intangible asset amortization		—			(31,228	)		(3,221	)		(25,389	)		—			59,838		—			59,838			20,518			39,320			—			39,320		$	0.019		$	0.019
EMC Information Infrastructure Non-GAAP (4)	$	3,028,725		$	1,420,164		$	258,187		$	843,102		$	—		$	507,272	$	(5,629	)	$	501,643		$	94,162		$	407,481		$	—		$	407,481		$	0.201		$	0.197
VMware standalone GAAP	$	489,751		$	96,073		$	133,509		$	236,933		$	—		$	23,236	$	8,638		$	31,874		$	(6,345	)	$	38,219		$	—		$	38,219		$	0.019		$	0.018
GAAP adjustments and eliminations		(846	)		(145	)		(1,132	)		(3,795	)		773			3,453		(3,071	)		382			50			332			(6,688	)		(6,356	)	$	(0.003	)	$	(0.003	)
VMware within EMC GAAP (5)		488,905			95,928			132,377			233,138			773			26,689		5,567			32,256			(6,295	)		38,551			(6,688	)		31,863		$	0.016		$	0.015
Gain on SpringSource common stock		—			—			—			—			—			—		(5,859	)		(5,859	)		—			(5,859	)		1,025			(4,834	)	$	(0.002	)	$	(0.002	)
Acquisition-related charges		—			—			—			—			(773	)		773		—			773			—			773			(135	)		638		$	—		$	—
VMware within EMC Adjusted (6)		488,905			95,928			132,377			233,138			—			27,462		(292	)		27,170			(6,295	)		33,465			(5,798	)		27,667		$	0.014		$	0.013
Stock-based compensation expense		—			(9,498	)		(34,250	)		(23,769	)		—			67,517		—			67,517			15,055			52,462			(9,181	)		43,281		$	0.021		$	0.021
Intangible asset amortization		—			(2,893	)		(40	)		(514	)		—			3,447		—			3,447			1,133			2,314			(405	)		1,909		$	0.001		$	0.001
VMware within EMC Non-GAAP (7)	$	488,905		$	83,537		$	98,087		$	208,855		$	—		$	98,426	$	(292	)	$	98,134		$	9,893		$	88,241		$	(15,384	)	$	72,857		$	0.036		$	0.035
																												Wtd. Average Share O/S									2,027,347			2,065,951

Reconciliation of GAAP to Non-GAAP

For the Three Months Ended September 30, 2009

(in thousands, except per share amounts)

Unaudited

(Continued)

The following costs are included in EMC Consolidated Non-GAAP and EMC Information Infrastructure Non-GAAP results

	Revenue		Cost of Revenue		Research and Development		Selling, General and Administrative		Restructuring and Acquisition- Related Charges		Operating Income			Other Income (Expense), net			Income Before Taxes			Income Tax Provision			Net Income			Net Income Attributable to VMware		Net Income Attributable to EMC			Net Income per Weighted Average Share, Basic			Net Income per Weighted Average Share, Diluted
Non-cash interest expense on convertible debt (8)	$	—	$	—	$	—	$	—	$	—	$	—		$	(27,483	)	$	(27,483	)	$	(9,153	)	$	(18,330	)	$	—	$	(18,330	)	$	(0.009	)	$	(0.009	)
Transition costs (9)		—		789		3,159		12,825		—		(16,773	)		—			(16,773	)		(4,943	)		(11,830	)		—	$	(11,830	)	$	(0.006	)	$	(0.006	)
	$	—	$	789	$	3,159	$	12,825	$	—	$	(16,773	)	$	(27,483	)	$	(44,256	)	$	(14,096	)	$	(30,160	)	$	—	$	(30,160	)	$	(0.015	)	$	(0.015	)

(1) Represents EMC Consolidated GAAP excluding gain on Data Domain and SpringSource common stock and restructuring and acquisition-related charges.

(2) Represents EMC Consolidated Adjusted excluding stock-based compensation expense and intangible asset amortization.

(3) Represents EMC Information Infrastructure GAAP excluding gain on Data Domain common stock and restructuring and acquisition-related charges.

(4) Represents EMC Information Infrastructure Adjusted excluding stock-based compensation expense and intangible asset amortization.

(5) Represents VMware within EMC GAAP.

(6) Represents VMware within EMC GAAP excluding gain on SpringSource common stock and acquisition-related charges.

(7) Represents VMware within EMC excluding stock-based compensation expense and intangible asset amortization.

(8) Represents the non-cash interest charge associated with our convertible senior notes due 2011 and 2013 totaling $3,450 million.

(9) Represents incremental costs incurred to transform our current cost structure to a more streamlined cost structure.

Note: schedule may not add due to rounding

Reconciliation of GAAP to Non-GAAP

For the Three Months Ended September 30, 2008

(in thousands, except per share amounts)

Unaudited

	Revenue			Cost of Revenue			Research and Development			Selling, General and Administrative			Restructuring Charge			Operating Income		Other Income, net			Income Before Taxes		Income Tax Provision		Net Income			Net Income Attributable to VMware			Net Income Attributable to EMC			Net Income per Weighted Average Share, Basic			Net Income per Weighted Average Share, Diluted
EMC Consolidated GAAP	$	3,715,592		$	1,656,872		$	410,793		$	1,172,579		$	4,398		$	470,950	$	(1,097	)	$	469,853	$	63,309	$	406,544		$	(13,133	)	$	393,411		$	0.192		$	0.189
Restructuring charge		—			—			—			—			(4,398	)		4,398		—			4,398		2,990		1,408			—			1,408		$	0.001		$	0.001
Special income tax benefit		—			—			—			—			—			—		—			—		17,803		(17,803	)		—			(17,803	)	$	(0.009	)	$	(0.009	)
EMC Consolidated Adjusted (1)		3,715,592			1,656,872			410,793			1,172,579			—			475,348		(1,097	)		474,251		84,102		390,149			(13,133	)		377,016		$	0.184		$	0.181
Stock-based compensation expense		—			(21,052	)		(36,734	)		(60,475	)		—			118,261		—			118,261		27,630		90,631			(4,437	)		86,194		$	0.042		$	0.041
Intangible asset amortization		—			(40,737	)		(2,804	)		(28,428	)		—			71,969		—			71,969		24,725		47,244			(500	)		46,744		$	0.023		$	0.023
EMC Consolidated Non-GAAP (2)	$	3,715,592		$	1,595,083		$	371,255		$	1,083,676		$	—		$	665,578	$	(1,097	)	$	664,481	$	136,457	$	528,024		$	(18,070	)	$	509,954		$	0.249		$	0.245
EMC Information Infrastructure GAAP	$	3,243,732		$	1,582,588		$	326,204		$	963,428		$	4,398		$	367,114	$	(2,342	)	$	364,772	$	42,785	$	321,987		$	—		$	321,987		$	0.157		$	0.155
Restructuring charge		—			—			—			—			(4,398	)		4,398		—			4,398		2,990		1,408			—			1,408		$	0.001		$	0.001
Special income tax benefit		—			—			—			—			—			—		—			—		17,803		(17,803	)		—			(17,803	)	$	(0.009	)	$	(0.009	)
EMC Information Infrastructure Adjusted (3)		3,243,732			1,582,588			326,204			963,428			—			371,512		(2,342	)		369,170		63,578		305,592			—			305,592		$	0.149		$	0.147
Stock-based compensation expense		—			(15,251	)		(21,184	)		(44,414	)		—			80,849		—			80,849		18,371		62,478			—			62,478		$	0.030		$	0.030
Intangible asset amortization		—			(37,208	)		(2,804	)		(26,882	)		—			66,894		—			66,894		22,823		44,071			—			44,071		$	0.022		$	0.021
EMC Information Infrastructure Non-GAAP (4)	$	3,243,732		$	1,530,129		$	302,216		$	892,132		$	—		$	519,255	$	(2,342	)	$	516,913	$	104,772	$	412,141		$	—		$	412,141		$	0.201		$	0.198
VMware standalone GAAP	$	472,121		$	74,454		$	85,315		$	211,332		$	—		$	101,020	$	2,510		$	103,530	$	20,242	$	83,288		$	—		$	83,288		$	0.041		$	0.040
GAAP adjustments and eliminations		(261	)		(170	)		(726	)		(2,181	)		—			2,816		(1,265	)		1,551		282		1,269			(13,133	)		(11,864	)	$	(0.006	)	$	(0.006	)
VMware within EMC GAAP (5)		471,860			74,284			84,589			209,151			—			103,836		1,245			105,081		20,524		84,557			(13,133	)		71,424		$	0.035		$	0.034
Stock-based compensation expense		—			(5,801	)		(15,550	)		(16,061	)		—			37,412		—			37,412		9,259		28,153			(4,437	)		23,716		$	0.012		$	0.011
Intangible asset amortization		—			(3,529	)		—			(1,546	)		—			5,075		—			5,075		1,902		3,173			(500	)		2,673		$	0.001		$	0.001
VMware within EMC Non-GAAP (6)	$	471,860		$	64,954		$	69,039		$	191,544		$	—		$	146,323	$	1,245		$	147,568	$	31,685	$	115,883		$	(18,070	)	$	97,813		$	0.048		$	0.047
																										Wtd. Average Share O/S									2,048,594			2,077,474

Reconciliation of GAAP to Non-GAAP

For the Three Months Ended September 30, 2008

(in thousands, except per share amounts)

Unaudited

(Continued)

The following costs are included in EMC Consolidated Non-GAAP and EMC Information Infrastructure Non-GAAP results

	Revenue		Cost of Revenue		Research and Development		Selling, General and Administrative		Restructuring Charge		Operating Income		Other Income, net			Income Before Taxes			Income Tax Provision			Net Income			Net Income Attributable to VMware		Net Income Attributable to EMC			Net Income per Weighted Average Share, Basic			Net Income per Weighted Average Share, Diluted
Non-cash interest expense on convertible debt (7)	$	—	$	—	$	—	$	—	$	—	$	—	$	(26,009	)	$	(26,009	)	$	(8,143	)	$	(17,866	)	$	—	$	(17,866	)	$	(0.009	)	$	(0.009	)

(1) Represents EMC Consolidated GAAP excluding restructuring charge and special income tax benefit.

(2) Represents EMC Consolidated Adjusted excluding stock-based compensation expense and intangible asset amortization.

(3) Represents EMC Information Infrastructure GAAP excluding restructuring charge and special income tax benefit.

(4) Represents EMC Information Infrastructure Adjusted excluding stock-based compensation expense and intangible asset amortization.

(5) Represents VMware within EMC GAAP.

(6) Represents VMware within EMC excluding stock-based compensation expense and intangible asset amortization.

(7) Represents the non-cash interest charge associated with our convertible senior notes due 2011 and 2013 totaling $3,450 million.

Note: schedule may not add due to rounding

EMC CORPORATION

Consolidated Balance Sheets

(in thousands, except per share amounts)

Unaudited

	September 30, 2009			December 31, 2008
				(As Adjusted)
ASSETS
Current assets:
Cash and cash equivalents	$	5,518,359		$	5,843,685
Short-term investments		617,535			963,292
Accounts and notes receivable, less allowance for doubtful accounts of $50,500 and $48,080		1,864,121			2,252,640
Inventories		810,925			842,803
Deferred income taxes		486,463			477,101
Other current assets		331,162			285,508
Total current assets		9,628,565			10,665,029
Long-term investments		2,291,672			2,370,493
Property, plant and equipment, net		2,218,632			2,223,007
Intangible assets, net		1,245,447			795,616
Goodwill, net		9,222,725			7,046,799
Other assets, net		944,703			773,631
Total assets	$	25,551,744		$	23,874,575
LIABILITIES & SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	819,204		$	757,405
Accrued expenses		1,864,892			1,901,884
Securities lending payable		—			412,321
Income taxes payable		13,378			136,802
Deferred revenue		2,220,602			2,010,024
Total current liabilities		4,918,076			5,218,436
Income taxes payable		241,506			255,182
Deferred revenue		1,257,876			1,182,360
Deferred income taxes		582,633			389,787
Long-term convertible debt		3,072,505			2,991,943
Other liabilities		212,880			180,917
Total Liabilities		10,285,476			10,218,625
Commitments and contingencies
EMC Corporation’s Shareholders’ equity:
Preferred stock, par value $.01; authorized 25,000 shares, none outstanding		—			—
Common stock, par value $.01; authorized 6,000,000 shares; issued 2,039,822 and 2,012,938 shares		20,398			20,129
Additional paid-in capital		3,536,678			2,817,054
Retained earnings		11,368,693			10,671,212
Accumulated other comprehensive loss		(118,369	)		(179,952	)
Total EMC Corporation’s shareholders’ equity		14,807,400			13,328,443
Non-controlling interest in VMware, Inc.		458,868			327,507
Total shareholders’ equity		15,266,268			13,655,950
Total liabilities and shareholders’ equity	$	25,551,744		$	23,874,575

EMC CORPORATION

Consolidated Statements of Cash Flows

(in thousands)

Unaudited

	Nine Months Ended
	September 30, 2009			September 30, 2008
				(As Adjusted)
Cash flows from operating activities:
Cash received from customers	$	10,600,727		$	11,437,259
Cash paid to suppliers and employees		(8,098,216	)		(8,842,798	)
Dividends and interest received		95,024			192,651
Interest paid		(39,550	)		(55,270	)
Income taxes paid		(232,257	)		(233,500	)
Net cash provided by operating activities		2,325,728			2,498,342
Cash flows from investing activities:
Additions to property, plant and equipment		(277,589	)		(490,066	)
Capitalized software development costs		(222,432	)		(209,441	)
Purchases of short and long-term available for sale securities		(4,224,872	)		(2,200,508	)
Sales and maturities of short and long-term available for sale securities		4,880,173			2,766,087
Acquisitions, net of cash acquired		(2,664,141	)		(678,218	)
Increase in strategic and other related investments		(152,667	)		(4,410	)
Net cash used in investing activities		(2,661,528	)		(816,556	)
Cash flows from financing activities:
Issuance of EMC’s common stock from the exercise of stock options		226,276			176,774
Issuance of VMware’s common stock from the exercise of stock options		166,523			167,417
Repayments on securities lending		(412,321	)		—
Repurchase of EMC’s common stock		—			(1,119,986	)
Excess tax benefits from stock-based compensation		25,355			96,046
Payment of short and long-term obligations		(19,836	)		(5,678	)
Proceeds from short and long-term obligations		1,615			2,125
Net cash used in financing activities		(12,388	)		(683,302	)
Effect of exchange rate changes on cash		22,862			(6,995	)
Net (decrease) increase in cash and cash equivalents		(325,326	)		991,489
Cash and cash equivalents at beginning of period		5,843,685			4,482,211
Cash and cash equivalents at end of period	$	5,518,359		$	5,473,700
Reconciliation of net income to net cash provided by operating activities:
Net income	$	720,829		$	1,032,189
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		791,043			785,871
Non-cash interest expense on convertible debt		80,562			76,286
Non-cash restructuring and in-process research and development		22,138			80,705
Stock-based compensation expense		420,947			357,668
Increase in provision for doubtful accounts		15,160			16,615
Deferred income taxes, net		8,101			588
Excess tax benefits from stock-based compensation		(25,355	)		(96,046	)
Gain on Data Domain and SpringSource common stock		(25,822	)		—
Other		(13,567	)		(4,135	)
Changes in assets and liabilities, net of acquisitions:
Accounts and notes receivable		455,116			270,942
Inventories		(61,265	)		4,039
Other assets		(35,483	)		(68,180	)
Accounts payable		66,868			14,096
Accrued expenses		(175,982	)		(286,691	)
Income taxes payable		(143,896	)		4,326
Deferred revenue		204,707			290,177
Other liabilities		21,627			19,892
Net cash provided by operating activities	$	2,325,728		$	2,498,342

EMC Corporation

Reconciliation of Cash Flow from Operations to Free Cash Flow

(in thousands)

Unaudited

	Three Months Ended						Nine Months Ended
	September 30, 2009			September 30, 2008			September 30, 2009			September 30, 2008
EMC Consolidated
Cash flow from Operations	$	887,649		$	961,473		$	2,325,728		$	2,498,342
Capital Expenditures		(72,077	)		(163,617	)		(277,589	)		(490,066	)
Capitalized Software		(70,658	)		(90,593	)		(222,432	)		(209,441	)
Free Cash Flow	$	744,914		$	707,263		$	1,825,707		$	1,798,835
VMware within EMC
Cash flow from Operations	$	196,516		$	238,544		$	662,810		$	471,301
Capital Expenditures		(18,455	)		(32,042	)		(66,104	)		(118,385	)
Capitalized Software		(8,844	)		(37,961	)		(53,524	)		(53,895	)
Free Cash Flow	$	169,217		$	168,541		$	543,182		$	299,021
EMC Information Infrastructure
Cash flow from Operations	$	691,133		$	722,929		$	1,662,918		$	2,027,041
Capital Expenditures		(53,622	)		(131,575	)		(211,485	)		(371,681	)
Capitalized Software		(61,814	)		(52,632	)		(168,908	)		(155,546	)
Free Cash Flow	$	575,697		$	538,722		$	1,282,525		$	1,499,814

Free cash flow for the three and nine months ended September 30, 2009 includes intercompany tax payments of $8.0 million and $93.4 million, respectively, from EMC Information Infrastructure to VMware within EMC.

EMC Corporation

Reconciliation of GAAP to Non-GAAP

(in thousands)

Unaudited

	Income Before Tax			Tax Provision		Tax Rate
EMC Consolidated GAAP	$	325,470		$	20,602	6	%
Stock-based compensation expense		189,578			47,078	25	%
Intangible asset amortization		63,285			21,651	34	%
Restructuring and acquisition-related charges		47,266			14,724	31	%
Gain on Data Domain and SpringSource common stock		(25,822	)		—	0	%
EMC Consolidated Non-GAAP	$	599,777		$	104,055	17	%

EMC Corporation

Reconciliation of EMC Information Infrastructure Gross Margin GAAP to Non-GAAP

(in thousands)

Unaudited

	Q1 ‘07			Q2 ‘07			Q3 ‘07			Q4 ‘07			Q1 ‘08			Q2 ‘08			Q3 ‘08			Q4 ‘08			Q1 ‘09			Q2 ‘09			Q3 ‘09
EMC Information Infrastructure Gross Margin GAAP	$	1,356,449		$	1,452,198		$	1,526,004		$	1,774,212		$	1,548,285		$	1,656,440		$	1,661,144		$	1,783,145		$	1,287,536		$	1,369,676		$	1,547,240
Less: Stock-based compensation expense		13,028			12,456			12,652			10,557			12,136			12,486			15,251			16,665			14,233			15,224			17,608
Intangible asset amortization		23,792			23,970			25,003			26,011			35,888			36,974			37,208			37,253			27,853			27,778			31,228
Acquisition-related charges		—			—			—			—			—			—			—			—			—			—			12,485
EMC Information Infrastructure Gross Margin Non-GAAP	$	1,393,269		$	1,488,624		$	1,563,659		$	1,810,780		$	1,596,309		$	1,705,900		$	1,713,603		$	1,837,063		$	1,329,622		$	1,412,678		$	1,608,561
Revenues	$	2,718,987		$	2,826,575		$	2,945,463		$	3,418,367		$	3,031,889		$	3,221,299		$	3,243,732		$	3,502,307		$	2,680,361		$	2,802,239		$	3,028,725
% GAAP		49.9	%		51.4	%		51.8	%		51.9	%		51.1	%		51.4	%		51.2	%		50.9	%		48.0	%		48.9	%		51.1	%
% Non-GAAP		51.2	%		52.7	%		53.1	%		53.0	%		52.7	%		53.0	%		52.8	%		52.5	%		49.6	%		50.4	%		53.1	%

EMC Corporation

Reconciliation of EMC Information Infrastructure Operating Margin GAAP to Non-GAAP

(in thousands)

Unaudited

	Q1 ‘07			Q2 ‘07			Q3 ‘07			Q4 ‘07			Q1 ‘08			Q2 ‘08			Q3 ‘08			Q4 ‘08			Q1 ‘09			Q2 ‘09			Q3 ‘09
EMC Information Infrastructure Operating Margin GAAP	$	308,372		$	346,018		$	391,816		$	479,218		$	263,370		$	391,523		$	367,114		$	228,453		$	170,216		$	220,545		$	278,880
Less: Restructuring and acquisition-related charges		—			—			—			34,901			79,204			—			4,398			240,694			15,572			33,234			46,493
Stock-based compensation expense		71,703			71,233			68,896			61,627			74,460			75,424			80,849			94,824			60,949			67,156			122,061
Intangible asset amortization		41,958			42,308			44,280			50,510			62,149			65,038			66,894			68,263			55,879			56,143			59,838
EMC Information Infrastructure Operating Margin Non-GAAP	$	422,033		$	459,559		$	504,992		$	626,256		$	479,183		$	531,985		$	519,255		$	632,234		$	302,616		$	377,078		$	507,272
Revenues	$	2,718,987		$	2,826,575		$	2,945,463		$	3,418,367		$	3,031,889		$	3,221,299		$	3,243,732		$	3,502,307		$	2,680,361		$	2,802,239		$	3,028,725
% GAAP		11.3	%		12.2	%		13.3	%		14.0	%		8.7	%		12.2	%		11.3	%		6.5	%		6.4	%		7.9	%		9.2	%
% Non-GAAP		15.5	%		16.3	%		17.1	%		18.3	%		15.8	%		16.5	%		16.0	%		18.1	%		11.3	%		13.5	%		16.7	%

EMC Corporation

Supplemental

Revenue Analysis

(in thousands)

Unaudited

Supplemental Revenue Data

	Q1 2008			Q2 2008			Q3 2008			Q4 2008			YTD 2008			Q1 2009			Q2 2009			Q3 2009
Storage:
Product Revenue	$	1,903,639		$	2,018,026		$	2,056,498		$	2,285,366		$	8,263,529		$	1,572,408		$	1,632,309		$	1,818,230
Services Revenue		808,190			855,221			851,825			853,539			3,368,775			790,932			842,558			880,807
Total Storage Revenue	$	2,711,829		$	2,873,247		$	2,908,323		$	3,138,905		$	11,632,304		$	2,363,340		$	2,474,867		$	2,699,037
Content Management and Archiving:
Product Revenue	$	61,128		$	73,415		$	62,576		$	81,054		$	278,173		$	58,710		$	60,792		$	58,209
Services Revenue		124,075			130,591			125,493			127,316			507,475			115,605			119,445			118,979
Total Content Management and Archiving Revenue	$	185,203		$	204,006		$	188,069		$	208,370		$	785,648		$	174,315		$	180,237		$	177,188
Security:
Product Revenue	$	81,683		$	89,067		$	88,779		$	95,534		$	355,063		$	80,671		$	84,080		$	84,080
Services Revenue		53,174			54,979			58,561			59,498			226,212			62,035			63,055			68,420
Total Security Revenue	$	134,857		$	144,046		$	147,340		$	155,032		$	581,275		$	142,706		$	147,135		$	152,500
EMC Information Infrastructure:
Product Revenue	$	2,046,450		$	2,180,508		$	2,207,853		$	2,461,954		$	8,896,765		$	1,711,789		$	1,777,181		$	1,960,519
Services Revenue		985,439			1,040,791			1,035,879			1,040,353			4,102,462			968,572			1,025,058			1,068,206
Total EMC Information Infrastructure Revenue	$	3,031,889		$	3,221,299		$	3,243,732		$	3,502,307		$	12,999,227		$	2,680,361		$	2,802,239		$	3,028,725
VMware:
Product Revenue	$	293,980		$	281,143		$	285,088		$	314,840		$	1,175,051		$	257,331		$	228,089		$	240,062
Services Revenue		144,190			171,432			186,772			199,491			701,885			213,070			227,024			248,843
Total VMware Revenue	$	438,170		$	452,575		$	471,860		$	514,331		$	1,876,936		$	470,401		$	455,113		$	488,905
Consolidated Revenues
Product Revenue	$	2,340,430		$	2,461,651		$	2,492,941		$	2,776,794		$	10,071,816		$	1,969,120		$	2,005,270		$	2,200,581
Services Revenue		1,129,629			1,212,223			1,222,651			1,239,844			4,804,347			1,181,642			1,252,082			1,317,049
Total Consolidated Revenues	$	3,470,059		$	3,673,874		$	3,715,592		$	4,016,638		$	14,876,163		$	3,150,762		$	3,257,352		$	3,517,630
Percentage impact to EMC revenue growth rate due to changes in exchange rates from the prior year		2.3	%		2.7	%		1.2	%		(2.3	)%		0.8	%		(3.5	)%		(3.7	)%		(1.3	)%