VMware 2009 Annual Report Download - page 72

Download and view the complete annual report

Please find page 72 of the 2009 VMware annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 125

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125

Table of Contents
VMware, Inc.
CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share amounts)
The accompanying notes are an integral part of the consolidated financial statements.
69
For the Year Ended December 31,
2009
2008
2007
Revenues:
License
$
1,029,442
$
1,178,142
$
905,368
Services
994,495
702,885
420,443
2,023,937
1,881,027
1,325,811
Operating expenses
:
Cost of license revenues
126,686
88,156
80,876
Cost of services revenues
233,042
215,949
137,798
Research and development
496,552
429,204
285,941
Sales and marketing
736,383
654,083
450,195
General and administrative
211,979
181,110
135,660
Operating income
219,295
312,525
235,341
Investment income
8,233
28,301
22,942
Interest expense with EMC, net
(6,958
)
(18,316
)
(17,757
)
Other income (expense), net
2,879
(3,225
)
(48
)
Income before income taxes
223,449
319,285
240,478
Income tax provision
26,351
29,152
22,341
Net income
$
197,098
$
290,133
$
218,137
Net income per weighted
-
average share, basic for Class A and Class B
$
0.50
$
0.75
$
0.62
Net income per weighted
-
average share, diluted for Class A and Class B
$
0.49
$
0.73
$
0.61
Weighted
-
average shares, basic for Class A and Class B
394,269
385,068
350,493
Weighted
-
average shares, diluted for Class A and Class B
399,776
397,185
359,189
(1) Includes stock
-
based compensation as follows:
Cost of license revenues
$
1,293
$
1,120
$
558
Cost of services revenues
14,874
13,485
6,070
Research and development
121,770
77,992
42,934
Sales and marketing
58,610
49,762
26,288
General and administrative
34,909
24,157
16,556
(1)