SolarWinds Announces Fourth Quarter and Full Year 2011 Results
(firmenpresse) - AUSTIN, TX -- (Marketwire) -- 02/07/12 -- SolarWinds® (NYSE: SWI), a leading provider of powerful and affordable , today reported results for its fourth quarter and full year ended December 31, 2011.
Record total revenue for the fourth quarter of $55.6 million, representing 34% year-over-year growth.
Record total revenue for the full year of 2011 of $198.4 million, representing 30% year-over-year growth.
Fourth quarter GAAP operating income of $22.3 million and non-GAAP operating income of $29.3 million, or a non-GAAP operating margin for the fourth quarter of 53%.
Fourth quarter GAAP diluted earnings per share of $0.22 and non-GAAP diluted earnings per share of $0.29.
Fourth quarter free cash flow of $36.6 million, representing 28% year-over-year growth.
SolarWinds reported record total revenue for the fourth quarter of 2011 of $55.6 million, a 34% increase over total revenue for the fourth quarter of 2010. License revenue of $25.3 million for the fourth quarter of 2011 represented a 27% increase over license revenue for the fourth quarter of 2010. During the fourth quarter of 2011, the assets acquired from DameWare Development contributed license revenue of approximately $200,000, which was consistent with SolarWinds' previously announced expectations. Maintenance revenue was a record $30.3 million for the fourth quarter of 2011, representing a 41% increase over maintenance revenue for the fourth quarter of 2010.
On a GAAP basis, diluted earnings per share were $0.22 for the fourth quarter of 2011 compared to $0.21 for the fourth quarter of 2010. Non-GAAP diluted earnings per share were $0.29 for the fourth quarter of 2011 compared to $0.24 for the fourth quarter of 2010.
Net cash provided by operating activities was $36.4 million for the fourth quarter of 2011 compared to $20.0 million for the fourth quarter of 2010, representing a year-over-year increase of 82%. Free cash flow was $36.6 million for the fourth quarter of 2011 compared to $28.6 million for the fourth quarter of 2010, representing a year-over-year increase of 28%. Cash, cash equivalents, and investments at the end of the fourth quarter of 2011 were $152.4 million, a decrease of $13.4 million from the end of the third quarter of 2011. During the fourth quarter of 2011, SolarWinds paid approximately $51.0 million in cash to acquire DNSstuff.com and DameWare Development.
The financial results included in this press release are preliminary and pending final review by the company and its external auditors. Financial results will not be final until SolarWinds files its annual report on Form 10-K for the period. Information about SolarWinds' use of these non-GAAP financial measures is provided below under "Non-GAAP Financial Measures."
"The SolarWinds team had a very strong performance in the fourth quarter, driving solid results across the board and a great finish to an important year for our company," said Kevin Thompson, SolarWinds' President and Chief Executive Officer.
"In 2011, we successfully executed against an aggressive plan to extend our unique brand of powerful, affordable, and easy to use IT management software far beyond our traditional network management roots. We entered into the systems and application management space with the release of two new products -- SolarWinds Application Performance Monitor and Synthetic End-User Monitor -- and entered the virtualization management and log & event management markets through two complementary acquisitions," continued Thompson. "In the process, we estimate that we more than doubled our total addressable market opportunity, by dramatically increasing the range of IT management problems our products can solve and our relevancy to IT professionals in any size of business. In 2012, we plan to continue disrupting the IT management space, by reshaping expectations around how enterprise software is built, purchased, and used, in order to drive another year of success at SolarWinds."
SolarWinds' business highlights during the fourth quarter of 2011 include:
SolarWinds completed the acquisition of DameWare Development, deepening SolarWinds' capabilities in the system and application management markets with powerful, yet affordable and easy-to-use tools for SysAdmins to remotely manage the computers on their networks.
The company also expanded its international sights, entering the Japanese market through key partnerships with leading Japanese companies, including Marubeni Information Systems, Mitsuiwa Corporation, and Daikin, in order to promote and sell its unique IT management portfolio to Japanese customers.
SolarWinds received honors in Redmond Magazine's 2011 Readers Choice Awards, including Best Virtualization Management and Optimization Product (VM Monitor) and ISV Winner and Grand Slam Winner for Best Network Performance Management Product (SolarWinds Network Performance Monitor). In addition, Windows IT Pro Magazine awarded SolarWinds Network Performance Monitor (NPM) with the 2011 Editors' Best and Community Choice gold medal in the Network Management Product Category.
SolarWinds released new versions of several products including SolarWinds Network Configuration Manager (NCM), User Device Tracker (UDT), NPM, Storage Manager, and Virtualization Manager.
SolarWinds introduced Storage Response Time Monitor, a free tool for monitoring total storage response time in VMWare vSphere deployments and identifying storage IO problems caused by server virtualization.
SolarWinds also introduced Real-Time Bandwidth Monitor, a free tool for monitoring bandwidth usage of many interfaces concurrently.
"In 2011, we successfully demonstrated that periods of significant investment in new products and acquisitions can coincide with periods of strong growth and strong profitability and cash flow generation," added Mike Berry, SolarWinds' Chief Financial Officer. "By leveraging our unique financial model and maintaining a sharp focus on ROI, we expect to continue to deliver this combination of solid revenue growth, profit, and cash flow as we move into 2012."
As of February 7, 2012, SolarWinds is providing its financial outlook for its first quarter and full year of 2012. The financial information below represents forward-looking non-GAAP financial information, including an estimate of non-GAAP operating income as a percentage of revenue, and non-GAAP diluted earnings per share, for the first quarter of 2012 and for the full year 2012. These non-GAAP financial measures exclude, among other items mentioned below, stock-based compensation expense and related employer-paid payroll taxes. SolarWinds cannot reasonably estimate the expected stock-based compensation expense and related employer-paid payroll taxes for these future periods as the amounts depend upon such factors as the future price of SolarWinds' stock for purposes of computation. In addition, costs related to non-recurring items and acquisitions are not something that SolarWinds can estimate because they are a function of what non-recurring items and acquisitions, if any, occur and the kind of costs incurred in connection with any such non-recurring items or acquisitions.
SolarWinds management currently expects to achieve the following results for the first quarter of 2012:
Total revenue in the range of $55.5-$56.7 million, or 29% to 32% growth over the first quarter of 2011.
Non-GAAP operating income representing approximately 49% of revenue, including the dilutive impact of recent acquisitions.
Non-GAAP diluted earnings per share of $0.24-$0.25.
Weighted average shares outstanding of approximately 76.0 million.
SolarWinds management currently expects to achieve the following results for the full year 2012:
Total revenue in the range of $245.0-$255.0 million, or 24% to 29% year-over-year growth.
Non-GAAP operating income representing approximately 50% of revenue.
Non-GAAP diluted earnings per share of $1.10-$1.15.
Weighted average shares outstanding of approximately 77.5 million.
In conjunction with this announcement, SolarWinds will host a conference call today to discuss its financial results and other business at 8:00am CST (9:00am EST/6:00am PST). A live webcast of the event, including any supplemental information, will be available on the SolarWinds Investor Relations website at . A live dial-in will be available domestically at 800-967-7135 and internationally at +1-719-457-2642. To access the live call, please dial in 5-10 minutes before the scheduled start time. A replay of the webcast will be available on a temporary basis shortly after the event on the SolarWinds Investor Relations website.
This press release contains "forward-looking" statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including SolarWinds' financial outlook and its plan to continue disrupting the IT management space by reshaping expectations around how enterprise software is built, purchased, and used. These forward-looking statements are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements include all statements that are not historical facts and may be identified by terms such as "plans," "expects," or similar expressions and the negatives of those terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the following: (a) the possibility that general economic conditions or uncertainty cause information technology spending to be reduced or purchasing decisions to be delayed; (b) the presence or absence of occasional large customer orders, including in particular those placed by the U.S. federal government; (c) the inability to increase sales to existing customers and to attract new customers; (d) SolarWinds' failure to integrate acquired businesses and any future acquisitions successfully; (e) the timing and success of new product introductions by SolarWinds or its competitors; (f) changes in SolarWinds' pricing policies or those of its competitors; (g) potential foreign exchange gains and losses related to expenses and sales denominated in currencies other than the functional currency of an associated entity; and (h) such other risks and uncertainties described more fully in documents filed with or furnished to the Securities and Exchange Commission, including the Form 10-K that SolarWinds anticipates filing on or before February 29, 2012. All information provided in this release is as of the date hereof and SolarWinds undertakes no duty to update this information except as required by law.
In addition to disclosing financial measures prepared in accordance with GAAP, this press release and the accompanying tables contain certain non-GAAP financial measures. The tables below set forth a reconciliation of each of these non-GAAP measures to a GAAP financial measure that we consider to be most comparable. SolarWinds believes that each of these non-GAAP financial measures provides meaningful supplemental information regarding its performance by excluding certain items that may not be indicative of its core business operations. SolarWinds' management and Board of Directors use certain of these non-GAAP measures to assess operational performance and to determine employee incentive compensation. Accordingly, these measures may provide helpful insight to investors on the motivation and decision-making of management in operating the business. SolarWinds considers free cash flow also to be a liquidity measure that provides important information regarding the cash generated by the business after the purchase of property and equipment that can then be used for, among other things, strategic acquisitions and investments in the business, stock repurchases and funding ongoing operations.
SolarWinds also believes that these non-GAAP financial measures are used by investors and security analysts to (a) compare and evaluate its performance from period to period and (b) compare its performance to those of its competitors. These non-GAAP measures exclude certain items that can vary substantially from company to company depending upon their financing and accounting methods, the book value of their assets, their capital structures and the method by which their assets were acquired.
There are limitations associated with the use of these non-GAAP financial measures. These non-GAAP financial measures are not prepared in accordance with GAAP, do not reflect a comprehensive system of accounting and may not be completely comparable to similarly-titled measures of other companies due to potential differences in the exact method of calculation between companies. Certain items that are excluded from these non-GAAP financial measures can have a material impact on operating and net income. In addition, free cash flow does not represent the total increase or decrease in the cash balance for the period.
As a result, these non-GAAP financial measures have limitations and should not be considered in isolation from, or as a substitute for the most comparable GAAP measures. SolarWinds' management and Board of Directors compensate for these limitations by using these non-GAAP financial measures as supplements to GAAP financial measures and by reviewing the reconciliations of the non-GAAP financial measures to their most comparable GAAP financial measure. Investors are encouraged to review the reconciliations of these non-GAAP financial measures to their most comparable GAAP financial measures that are set forth in the tables below.
SolarWinds (NYSE: SWI) provides powerful and affordable IT management software to customers worldwide -- from Fortune 500 enterprises to small businesses. We work to put our users first and remove the obstacles that have become "status quo" in traditional enterprise software. SolarWinds products are downloadable, easy to use and maintain, and provide the power, scale, and flexibility needed to address users' management priorities. Our online user community, , is a gathering-place where tens of thousands of IT pros solve problems, share technology, and participate in product development for all of SolarWinds' products. Learn more today at .
SolarWinds and the SolarWinds logo are exclusive trademarks of SolarWinds, are registered with the U.S. patent and trademark office, and may be registered or pending registration in other countries. All other SolarWinds trademarks, service marks, and logos, including without limitation, Application Performance Monitor, Synthetic End-User Monitor, VM Monitor, SolarWinds Network Performance Monitor, Network Configuration Manager, User Device Tracker, Storage Manager, Virtualization Manager, Storage Response Time Monitor, and Real-Time Bandwidth Monitor, may be common law marks or registered or pending registration in the United States or in other countries. All other trademarks or registered trademarks mentioned herein are used for identification purposes only and may be trademarks or registered trademarks of their respective companies.
© Copyright 2012 SolarWinds, Inc.
Dave Hafner
Phone: 512.682.9867
Tiffany Nels
Phone: 512.682.9545
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 07.02.2012 - 13:00 Uhr
Sprache: Deutsch
News-ID 111736
Anzahl Zeichen: 0
contact information:
Town:
AUSTIN, TX
Kategorie:
Software
Diese Pressemitteilung wurde bisher 167 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"SolarWinds Announces Fourth Quarter and Full Year 2011 Results"
steht unter der journalistisch-redaktionellen Verantwortung von
SolarWinds (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
