Vmware's net income grows 102 percent

Vmware's net income for the year ended 2011 has reached $724 million, or $1.68 per diluted share, compared to $357 million, or $0.84 per diluted share, for the year 2010.

The annual consolidated revenue of the company reached $3.77 billion, with a growth of 32 percent, while the fourth quarter's revenue of the company grew 27 percent to $1.06 billion.

Vmware deals in virtualization and cloud infrastructure and its operating income for the fourth quarter stood at $214 million, an increase of 64 percent from the fourth quarter of 2010.

The net income of the company for the fourth quarter counted $200 million, or $0.46 per diluted share, compared to $120 million, or $0.28 per diluted share, for the year ago quarter.

Operating cash flows for the fourth quarter were $561 million, an increase of 38 percent from the fourth quarter of 2010. Free cash flows for the quarter were $535 million, an increase of 32% from the fourth quarter of 2010.

''As customers continue to drive significant IT transformation, our task remains in providing solutions that go beyond cost reduction, yielding business and competitive value,'' said Paul Maritz, CEO, Vmware.

''Our investments over the years have clearly paid off and we will continue to take advantage of long-term opportunities ahead. First quarter 2012 revenues are expected to be in the range of $1.015 and $1.040 billion, an increase of 20 percent to 23 percent from the first quarter 2011,'' said Mark Peek, CFO, Vmware.

The company expects 2012 revenues to be in the range of $4.475, and $4.6 billion, with an increase of 19 percent to 22 percent from 2011.