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Vmware Reports Preliminary Q3 2015 Results

The following excerpt is from the company's SEC filing.

VMware/EMC to Host Financial Analyst Conference Call Today at 4:45 a.m. PT

PALO ALTO, Calif., October 12, 2015 -

VMware, Inc. (NYSE: VMW), a leader in cloud infrastructure and business mobility, announced preliminary financial results for the third quarter of 2015.

Revenues for the third quarter are expected to be $1.672 billion, an increase of 10% from the third quarter of 2014, or an increase of 14% in constant currency. “I’m pleased with our overall Q3 results, with total revenue expected to exceed the high end of our guidance range,” said Jonathan Chadwick, chief financial officer, chief operating officer and executive vice president, VMware.

License revenues for the third quarter are expected to be $681 million, an increase of 7% from the third quarter of 2014, or an increase of 11% in constant currency.

GAAP operating margin for the third quarter is expected to be 19.5%. Non-GAAP operating margin for the third quarter is expected to be 31.5%.

GAAP net income per diluted share is expected to be $0.60, up 35% year over year. Non-GAAP net income per diluted share for the third quarter is expected to be $1.02 per share, up 18% year over year.

Total revenues plus sequential change in total unearned revenues are expected to grow 3% year-over-year, or grow 8% year-over-year in constant currency.

License revenues plus sequential change in unearned license revenues are expected to grow 2% year-over-year, or grow 7% year-over-year in constant currency.

Additional details regarding third quarter earnings will be provided in a press release and during an earnings announcement conference call as previously scheduled on October 20, 2015 at 2:00 p.m. PT/ 5:00 p.m. ET.

VMware’s Pat Gelsinger will also join EMC executives in a financial analyst conference call today at 4:45 a.m. PT / 7:45 am ET. The call will be broadcast live at

http://ir.vmware.com

or you may dial in: 210-795-1098, passcode: EMC. A replay of the webcast will be available on the website for two months.

About VMware

VMware is the leader in virtualization and cloud infrastructure solutions that enable businesses to thrive in the Cloud Era. Customers rely on VMware to help them transform the way they build, deliver and consume Information Technology resources in a manner that is evolutionary and based on their specific needs. With 2014 revenues of $6 billion, VMware has more than 500,000 customers and 75,000 partners. The company is headquartered in Silicon Valley with offices throughout the world and can be found online at

www.vmware.com

Additional Information

VMware’s website is located at www.vmware.com, and its investor relations website is located at http://ir.vmware.com. VMware’s goal is to maintain the investor relations website as a portal through which investors can easily find or navigate to pertinent information about VMware, all of which is made available free of charge. The additional information includes materials that VMware files with the SEC; announcements of investor conferences and events at which its executives talk about its products, services and competitive strategies; webcasts of its quarterly earnings calls, investor conferences and events (archives of which are also available for a limited time); additional information on its financial metrics, including reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures; press releases on quarterly earnings, product and service announcements, legal developments and international news; corporate governance information; and other news, blogs and announcements that VMware may post from time to time that investors may find useful or interesting.

VMware is a registered trademark or trademark of VMware, Inc. in the United States and other jurisdictions. All other marks and names mentioned herein may be trademarks of their respective organizations.

Exhibit 99.1

Use of Non-GAAP Financial Measures

Reconciliations of non-GAAP financial measures to VMware’s financial results as determined in accordance with GAAP are included at the end of this press release following the accompanying financial data. For a description of these non-GAAP financial measures, including the reasons management uses each measure, please see the section of the tables titled “About Non-GAAP Financial Measures.”

Forward-Looking Statements

This press release contains forward-looking statements including, among other things, statements regarding preliminary financial results for the third quarter of 2015, including with respect to expectations for revenues, GAAP and non-GAAP operating margin, GAAP and non-GAAP net income per diluted share, total revenues plus sequential change in total unearned revenues and license revenues plus sequential change in unearned license revenues. These forward-looking statements are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors VMware’s expectations about its quarterly results are based on preliminary information about the third quarter of 2015 and are subject to revision. Although the quarter is now completed, VMware is still in the early stages of its standard financial reporting closing procedures. Accordingly, as VMware completes its normal...


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