In its first quarter since going public, virtualisation firm VMware announced strong third quarter results of $358 million (174 million), up 90 per cent from the same period a year ago.
The initial public offering (IPO) earlier this year helped boost the firm, as did the release of a new embedded hypervisor, said Diane Greene, the company's president and chief executive.
"VMware had a strong quarter by several measures," said Greene. "Increased customer-adoption of VMware Infrastructure was a significant driver in growing our revenues 90 per cent. We completed our IPO. Our annual VMworld conference drew more than 10,800 attendees, including more than 1,800 people representing our partners. And we introduced four brand new products to the market, including our next-generation server-embedded hypervisor VMware ESX Server 3i."
Net income was $65 million, up to $19 million from a year ago. Operating income was $66 million, compared to $28 million last year. Operating cash flow was $514 million at the year ending September 30, compared to $230 million for the 12 months prior.
"We had solid growth during our first quarter as a public company," said Mark Peek, VMware's chief financial officer. "In particular, we were pleased with our ability to grow operating income while continuing to invest in the business, increase our footprint in the market, develop new products, and meet the high expectations of our customers and partners."
