VMware, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Revenue Guidance for the First Quarter and Full Year of 2014
For the year, the company reported total revenue of USD 5.207 million compared to USD 4.605 million a year ago. Operating income was USD 1.093 million compared to USD 0.872 million a year ago. Income before income taxes was USD 1.147 million compared to USD 0.893 million a year ago. Net income was USD 1.014 million compared to USD 0.746 million a year ago. Net income per weighted-average share, diluted for Class A and Class B was USD 2.34 compared to USD 1.72 a year ago. Net cash provided by operating activities was USD 2.535 million compared to USD 1.897 million a year ago. Additions to property and equipment were USD 0.345 million compared to USD 0.234 million a year ago. Purchases of available-for-sale securities were USD 3.181 million compared to USD 3.189 million a year ago. Free cash flows were USD 2.190 million compared to USD 1.663 million a year ago. On on-GAAP basis, the company's operating income was USD 1.771 million compared to USD 1.491 million a year ago. Income before income taxes was USD 1.794 million compared to USD 1.512 million a year ago. Net income was USD 1.462 million compared to USD 1.236 million a year ago. Net income per weighted-average share, diluted for Class A and Class B was USD 3.37 compared to USD 2.85 a year ago.
For the first quarter of 2014, the company expects total revenue to be between USD 1.33 billion and USD 1.37 million, or up 12% to 15% year-over-year. This revenue and growth range includes the company's expectations for approximately 0 to USD 10 million from AirWatch.
The company's revenue for 2014 expected to be between USD 5.94 billion and USD 6.1 billion, or up 14% to 17% year-over-year. This revenue and growth range includes the company's expectations of approximately USD 75 million from AirWatch. The company expects non-GAAP operating margin to increase in the second half of 2014, resulting in approximately 31% for the full year 2014.