Virtualisation and cloud infrastructure vendor VMware has announced that revenues for the first quarter of 2013 were $1,19-billion, an increase of 13% from the first quarter of 2012.
Operating income for the first quarter was $160-million, a decrease of 26% from the first quarter of 2012, reflecting a $63-million realignment charge. Non-GAAP operating income for the first quarter was $388-million, an increase of 13% from the first quarter of 2012.
Net income for the first quarter was $174-million, or $0.40 per diluted share, down 9% compared to $191-million, or $0,44 per diluted share, for the first quarter of 2012. Non-GAAP net income for the quarter was $319-million, or $0,74 per diluted share, up 11% compared to $287-million, or $0,66 per diluted share, for the first quarter of 2012.
Operating cash flows for the first quarter were $676-million, an increase of 17% from the first quarter of 2012. Free cash flows for the quarter were $599-million, an increase of 10% from the first quarter of 2012.
Cash, cash equivalents and short-term investments were $4,94-billion and unearned revenue was $3,49-billion as of March 31, 2013.
Annual 2013 revenues are expected to be in the range of $5,12-billion to $5,24-billion, an increase of approximately 11% to 14% from 2012, and annual license revenues are expected to grow approximately 6% to 9%.
Second quarter 2013 total revenues are expected to be in the range of $1,21-billion to $1,24-billion, an increase of approximately 8% to 10% from the second quarter of 2012. Second quarter license revenues are expected to be between $515-million and $535-million.
“We’re very pleased with our performance this quarter, particularly in light of recent results from many of our industry peers,” says Pat Gelsinger, CEO of VMware.
“VMware is the virtualisation software infrastructure leader and the company most capable of providing an end to-end infrastructure solution designed to bridge our customers’ legacy client/server applications and desktops to next-generation applications for the mobile/cloud era. We continue to execute against our strategy, and our position in the market is clear as we embark on this multi-year journey with our customers.”
Net income for the first quarter was $174-million, or $0.40 per diluted share, down 9% compared to $191-million, or $0,44 per diluted share, for the first quarter of 2012. Non-GAAP net income for the quarter was $319-million, or $0,74 per diluted share, up 11% compared to $287-million, or $0,66 per diluted share, for the first quarter of 2012.
Operating cash flows for the first quarter were $676-million, an increase of 17% from the first quarter of 2012. Free cash flows for the quarter were $599-million, an increase of 10% from the first quarter of 2012.
Cash, cash equivalents and short-term investments were $4,94-billion and unearned revenue was $3,49-billion as of March 31, 2013.
Annual 2013 revenues are expected to be in the range of $5,12-billion to $5,24-billion, an increase of approximately 11% to 14% from 2012, and annual license revenues are expected to grow approximately 6% to 9%.
Second quarter 2013 total revenues are expected to be in the range of $1,21-billion to $1,24-billion, an increase of approximately 8% to 10% from the second quarter of 2012. Second quarter license revenues are expected to be between $515-million and $535-million.
“We’re very pleased with our performance this quarter, particularly in light of recent results from many of our industry peers,” says Pat Gelsinger, CEO of VMware.
“VMware is the virtualisation software infrastructure leader and the company most capable of providing an end to-end infrastructure solution designed to bridge our customers’ legacy client/server applications and desktops to next-generation applications for the mobile/cloud era. We continue to execute against our strategy, and our position in the market is clear as we embark on this multi-year journey with our customers.”