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SOFTWARE INDUSTRY NEWS |
VMware reports Q4 and 2009 full year results |
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VMware, Inc., which provides virtualization solutions from the desktop through the datacenter to the cloud, has announced financial results for the fourth quarter and full year 2009. The company's revenues for the fourth quarter were $608 million, an increase of 18% compared to the fourth quarter of 2008. GAAP operating income for the fourth quarter was $71 million, down 30% from the corresponding period in 2008. Net income for the fourth quarter was $56 million, equivalent to $0.14 per diluted share, as compared to $111million, or $0.29 per diluted share for the fourth quarter of 2008. GAAP operating cash flows for the fourth quarter were reported at $284 million, an increase of 4% from the fourth quarter of 2008. Free cash flows for the quarter were $259 million, increasing 45% from the fourth quarter of 2008. Revenues for the full year 2009 were $2 billion, an increase of 8% from 2008. GAAP operating income for the full fiscal year 2009 was $219 million, a decrease of 30% from 2008. GAAP net income for the full fiscal year 2009 was $197 million, or $0.49 per diluted share, as compared to $290 million, or $0.73 per diluted share, for 2008. Operating cash flows for the full fiscal year 2009 were $986 million, an increase of 23% and free cash flows for the year were $840 million, an increase of 39%. Cash was in excess of $2.4 billion and deferred revenue was $1.3 billion as of December 31, 2009. Since the beginning of 2009, cash increased 35% and deferred revenue increased 52%, VMware said. Geographically, the company's US revenues for 2009 grew 5% to $1.04 billion, while international revenues grew 10% to $985 million as compared to 2008 revenues. Services revenues, including software maintenance and professional services, were $304 million for the fourth quarter, an increase of 52% from the fourth quarter of 2008. "We are pleased with our solid fourth quarter results driven by pent up customer demand and our successful upgrade promotion to Enterprise Plus," said Mark Peek, chief financial officer. "While the economy is slowly recovering, we have improved near-term visibility as customers move forward with their IT investments. We are planning first quarter revenues to be in the range of $580 and $600 million, an increase of 23% to 28% from the first quarter 2009. We expect annual 2010 revenue to be in the range of $2.45 and $2.55 billion, an increase of 21% to 26% from 2009." Earlier in January 2010, VMware had announced that it had entered into an agreement to acquire Zimbra, a vendor of email and collaboration software, from Yahoo! Inc. Zimbra is a 'cloud era' core IT solution that will be a building block in an expanding VMware portfolio of solutions that can be offered as a virtual appliance or by a cloud service provider. |
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