Exhibit 99.1

 

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VMware Reports Fourth Quarter and Full Year 2014 Results

Annual revenue growth of 16% to a record $6.04 billion

Fourth quarter year-over-year revenue growth of 15% to a record $1.70 billion; up 16% on a constant currency basis

New products and services including AirWatch, Cloud Management, NSX, Hybrid Cloud and Virtual SAN experiencing strong customer momentum

VMware board of directors authorizes additional $1 billion share buyback

PALO ALTO, Calif., January 27, 2015

— VMware, Inc. (NYSE: VMW), the global leader in virtualization and cloud infrastructure, today announced financial results for the fourth quarter and full year of 2014:

Quarterly Review

 

    Total revenues for the fourth quarter were $1.70 billion, an increase of 15% from the fourth quarter of 2013, or up 16% year over year in constant currency.

 

    License revenues for the fourth quarter were $777 million, an increase of 13% from the fourth quarter of 2013, or up 16% year over year in constant currency.

 

    Operating income for the fourth quarter was $344 million, a decrease of 8% from the fourth quarter of 2013. Non-GAAP operating income for the fourth quarter was $567 million, an increase of 7% from the fourth quarter of 2013.

 

    Net income for the fourth quarter was $326 million, or $0.75 per diluted share, a decrease of 2% per diluted share compared to $335 million, or $0.77 per diluted share, for the fourth quarter of 2013. Non-GAAP net income for the quarter was $467 million, or $1.08 per diluted share, an increase of 7% per diluted share compared to $436 million, or $1.01 per diluted share, for the fourth quarter of 2013. Both GAAP and Non-GAAP results on a year-over-year basis include the impact of the acquisition of AirWatch, completed in the first quarter of 2014.

Annual Review

 

    Revenues for 2014 were $6.04 billion, an increase of 16% from 2013.

 

    Operating income for 2014 was $1.03 billion, a decrease of 6% from 2013. Non-GAAP operating income for 2014 was $1.88 billion, an increase of 6% from 2013.

 

    Net income for 2014 was $886 million, or $2.04 per diluted share, a decrease of 13% compared to $1.01 billion, or $2.34 per diluted share, for 2013. Non-GAAP net income for 2014 was $1.54 billion, or $3.56 per diluted share, an increase of 5% per diluted share compared to $1.46 billion, or $3.37 per diluted share, for 2013. Both GAAP and Non-GAAP results on a year-over-year basis include the impact of the acquisition of AirWatch, completed in the first quarter of 2014.

 

    Operating cash flows for 2014 were $2.18 billion, a decrease of 14% from 2013, and free cash flows for the year were $1.83 billion, a decrease of 17% from 2013.

 

    Cash, cash equivalents and short-term investments were $7.08 billion and unearned revenues were $4.83 billion as of December 31, 2014.


The following information was filed by Vmware, Inc. (VMW) on Tuesday, January 27, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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