AUSTIN, TX -- (Marketwire) -- 02/04/13 -- SolarWinds® (NYSE: SWI), a leading provider of powerful and affordable IT management software, today reported results for its fourth quarter and full year ended December 31, 2012.
•Record total revenue for the fourth quarter of $73.5 million, representing 32% year-over-year growth.
•Record total revenue for the full year of 2012 of $269.0 million, representing 36% year-over-year growth.
•Fourth quarter GAAP operating income of $31.6 million and non-GAAP operating income of $39.4 million, or a non-GAAP operating margin for the fourth quarter of 54%.
•Fourth quarter GAAP diluted earnings per share of $0.29 and non-GAAP diluted earnings per share of $0.36.
•Record fourth quarter free cash flow of $48.0 million, representing 32% year-over-year growth.
SolarWinds reported record total revenue for the fourth quarter of 2012 of $73.5 million, a 32% increase over total revenue for the fourth quarter of 2011. License revenue was $33.1 million for the fourth quarter of 2012, representing a 31% increase over license revenue for the fourth quarter of 2011. Maintenance revenue was a record $40.5 million for the fourth quarter of 2012, representing a 33% increase over maintenance revenue for the fourth quarter of 2011.
On a GAAP basis, diluted earnings per share were $0.29 for the fourth quarter of 2012 compared to $0.22 for the fourth quarter of 2011. Non-GAAP diluted earnings per share were $0.36 for the fourth quarter of 2012 compared to $0.29 for the fourth quarter of 2011.
Net cash provided by operating activities was $47.2 million for the fourth quarter of 2012 compared to $36.3 million for the fourth quarter of 2011, representing a year-over-year increase of 30%. Free cash flow was $48.0 million for the fourth quarter of 2012 compared to $36.4 million for the fourth quarter of 2011, representing a year-over-year increase of 32%. Cash, cash equivalents, and investments at the end of the fourth quarter of 2012 were $241.8 million, an increase of $33.3 million from the end of the third quarter of 2012.
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."
Recent Business Highlights
"Once again, the SolarWinds team delivered an impressive performance in 2012, resulting in full year revenue growth of 36% and a solid acceleration over our strong revenue growth last year. We believe that the team's hard work and focus the past year to extend our product portfolio in meaningful ways, engage the IT community through compelling content and targeted marketing efforts, and establish ourselves as a significant player in the broader IT management market are reflected in this quarter's and full year 2012 results," said Kevin Thompson, SolarWinds' President and Chief Executive Officer.
Most Popular Stories
- AIG to Create 230 Jobs in Charlotte
- Bipartisan Negotiators Reach Modest Budget Agreement
- Justin Bieber Visits Typhoon Victims, Plays Concert
- MasterCard to Split Shares, Raise Dividend
- Russia Says Nyet to Canada North Pole Claim
- Senate Dems Move Forward With Obama Nominees
- Obama Nominee Confirmed for D.C. Appeals Court
- New Obama Aide to Focus on Climate Change
- GOP, Dems Strain to Unearth a Modest Budget Pact
- Office Depot Moving HQ to Florida