VMware Delivers Real Financial Results for Virtualization Business
Page 1 of 1
Virtualization is a growing business for VMware (NYSE:VMW). The virtualization vendor reported fourth quarter 2011 and full-year results on Monday that continue to show growth. Moving forward, CEO Paul Maritz has big plans for 2012, with a broader vision of virtualization.
For the fourth quarter, VMware reported revenues of $1.06 billion, which is a 27 percent year-over-year gain. For the full fiscal 2011 year, revenues came in at $3.77 billion, which is a 32 percent year-over-year gain. Net income for the fourth quarter was reported at $200 million or $0.46 per share. For the full year, net income was $724 million or $1.68 per share.
Moving forward, Mark Peek, CFO of VMware, provided first quarter 2012 guidance for revenues to grow between 20 and 23 percent. For the full fiscal 2012 year, Peek provided guidance for revenues in the range of 4.475 billion or $4.6 billion, or growth of 19 percent to 22 percent on a year-over-year basis.
While VMware is perhaps best known for its virtualization offerings, Paul Maritz, CEO of VMware, noted that customers now want more than just virtualization.
"They are looking for ways to become fundamentally more agile and efficient and transform their businesses," Maritz said during the company's earnings call. "2012 will be the year when we expect our customers to accelerate beyond virtualization in significant numbers and start operating in a cloud-like manner."