# VMware Q4 net income up 15%

Staff writer ▼ | January 29, 2014VMware announced financial results for the fourth quarter and full year of 2013. Revenues for Q4 were $1.48 billion, an increase of 15% from Q4 2012.

VMware announced financial results for the fourth quarter and full year of 2013. Revenues for Q4 were $1.48 billion, an increase of 15% from Q4 2012.

Excluding revenues attributable to Pivotal and all divestitures that occurred in 2013, revenues for the fourth quarter increased 20% from the fourth quarter of 2012. Operating income for the fourth quarter was $374 million, an increase of 48% from the fourth quarter of 2012. Non-GAAP operating income for the fourth quarter was $528 million, an increase of 25% from the fourth quarter of 2012.

Net income for the fourth quarter was $335 million, or $0.77 per diluted share, an increase of 62% per diluted share compared to $206 million, or $0.47 per diluted share, for the fourth quarter of 2012. Non-GAAP net income for the quarter was $436 million, or $1.01 per diluted share, an increase of 25% per diluted share compared to $349 million, or $0.81 per diluted share, for the fourth quarter of 2012.

Operating cash flows for the fourth quarter were $688 million, an increase of 40% from the fourth quarter of 2012. Free cash flows for the quarter were $590 million, an increase of 44% from the fourth quarter of 2012.

Annual revenues for 2013 were $5.21 billion, an increase of 13% from 2012 or an increase of 17% excluding revenues attributable to Pivotal and all divestitures that occurred in 2013. Operating income for 2013 was $1.09 billion, an increase of 25% from 2012. Non-GAAP operating income for 2013 was $1.77 billion, an increase of 19% from 2012.

Annual net income for 2013 was $1.01 billion, or $2.34 per diluted share, an increase of 36% compared to $746 million, or $1.72 per diluted share, for 2012. Non-GAAP net income for 2013 was $1.46 billion, or $3.37 per diluted share, an increase of 18% per diluted share compared to $1.24 billion, or $2.85 per diluted share, for 2012. ■

Excluding revenues attributable to Pivotal and all divestitures that occurred in 2013, revenues for the fourth quarter increased 20% from the fourth quarter of 2012. Operating income for the fourth quarter was $374 million, an increase of 48% from the fourth quarter of 2012. Non-GAAP operating income for the fourth quarter was $528 million, an increase of 25% from the fourth quarter of 2012.

Net income for the fourth quarter was $335 million, or $0.77 per diluted share, an increase of 62% per diluted share compared to $206 million, or $0.47 per diluted share, for the fourth quarter of 2012. Non-GAAP net income for the quarter was $436 million, or $1.01 per diluted share, an increase of 25% per diluted share compared to $349 million, or $0.81 per diluted share, for the fourth quarter of 2012.

Operating cash flows for the fourth quarter were $688 million, an increase of 40% from the fourth quarter of 2012. Free cash flows for the quarter were $590 million, an increase of 44% from the fourth quarter of 2012.

Annual revenues for 2013 were $5.21 billion, an increase of 13% from 2012 or an increase of 17% excluding revenues attributable to Pivotal and all divestitures that occurred in 2013. Operating income for 2013 was $1.09 billion, an increase of 25% from 2012. Non-GAAP operating income for 2013 was $1.77 billion, an increase of 19% from 2012.

Annual net income for 2013 was $1.01 billion, or $2.34 per diluted share, an increase of 36% compared to $746 million, or $1.72 per diluted share, for 2012. Non-GAAP net income for 2013 was $1.46 billion, or $3.37 per diluted share, an increase of 18% per diluted share compared to $1.24 billion, or $2.85 per diluted share, for 2012. ■