VMware, Inc. (NYSE: VMW), the global leader in virtualization solutions from the desktop through the datacenter to the cloud, today announced financial results for the fourth quarter and full year 2009:
Revenues for the fourth quarter were $608 million, an increase of 18% from the fourth quarter of 2008.
GAAP operating income for the fourth quarter was $71 million, a decrease of 30% from the fourth quarter of 2008. Non-GAAP operating income for the fourth quarter was $158 million, an increase of 17% from the fourth quarter of 2008.
GAAP net income for the fourth quarter was $56 million, or $0.14 per diluted share, compared to $111million, or $0.29 per diluted share, for the fourth quarter of 2008. Non-GAAP net income for the quarter was $127 million, or $0.31 per diluted share, compared to $142 million, or $0.36 per diluted share, for the fourth quarter of 2008.
GAAP operating cash flows for the fourth quarter were $284 million, an increase of 4% from the fourth quarter of 2008. Free cash flows for the quarter were $259 million, an increase of 45% from the fourth quarter of 2008.
Revenues for the full year 2009 were $2.0 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. Non-GAAP operating income for the year 2009 was $484 million, an increase of 3% from 2008.
GAAP net income for the full fiscal year 2009 was $197 million, or $0.49 per diluted share, compared to $290 million, or $0.73 per diluted share, for 2008. Non-GAAP net income for the year 2009 was $401 million, or $1.00 per diluted share, compared to $416 million, or $1.05 per diluted share, for 2008.
GAAP 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 more than $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%.
U.S. revenues for 2009 grew 5% to $1.04 billion from 2008. International revenues grew 10% to $985 million from 2008.
Services revenues, which include software maintenance and professional services, were $304 million for the fourth quarter, an increase of 52% from the fourth quarter of 2008.
“The quarter’s strong performance, anchored by demand for vSphere , signals that virtualization is a key technology for customers who need to save money today, yet invest in a strategy that is central to the emerging cloud computing model,” said Paul Maritz, president and chief executive officer. “We believe that VMware is well positioned to help take our customers on this evolutionary path forward, and our strategy is to expand our portfolio to better serve our customers who are looking to remove complexity from IT.”
“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.”