Seguridad Mania.com - España y América Latina
Portal sobre tecnologías para la seguridad física
- Destacamos »
- software Anti Blanqueo
Total Cloud Revenues Up 28% but Would Have Been Up 34% in Constant Currency
Total Revenues Down 5% to $10.7 Billion but Would Have Been Up 3% in Constant Currency
Actualizado el 17 de junio, 2015 - 22.00hs.
REDWOOD SHORES, CA -- (Marketwired) -- 06/17/15 -- Oracle Corporation (NYSE: ORCL) today announced fiscal 2015 Q4 results. The results were significantly impacted by the strengthening of the U.S. dollar compared to foreign currencies. Total Q4 Revenues were $10.7 billion, down 5% but would have been up 3% without the strengthening of the U.S. dollar. Software and Cloud Revenues were $8.4 billion, down 6%, but up 2% in constant currency. Cloud software as a service (SaaS) and platform as a service (PaaS) revenues were $416 million, growing 29%, and up 35% in constant currency. Cloud infrastructure as a service (IaaS) revenues were $160 million, growing 25%, and up 31% in constant currency. Hardware Systems Revenues were $1.4 billion, down 4%, but up 5% in constant currency.
Q4 Operating Income was $4.0 billion, and the Operating Margin was 37%. Non-GAAP Operating Income was $5.0 billion, and the non-GAAP Operating Margin was 46%. Net Income was $2.8 billion while non-GAAP Net Income was $3.5 billion. Earnings Per Share was $0.62, down 23%, and down 12% in constant currency, while non-GAAP Earnings Per Share was $0.78, down 14%, and down 5% in constant currency.
Short-term Deferred revenues were $7.2 billion, slightly down, but up 9% in constant currency compared with a year ago. Operating Cash Flow on a trailing twelve-month basis was $14.3 billion.
For fiscal year 2015, Total Revenues were $38.2 billion, essentially unchanged, but up 4% in constant currency. Software and Cloud Revenues were $29.5 billion, up 1%, and up 5% in constant currency. Cloud SaaS and PaaS revenues were $1.5 billion, up 32%, and up 35% in constant currency. Cloud IaaS revenues were $608 million, up 33%, and up 36% in constant currency. Total Hardware System Revenues were $5.2 billion, down 3%, but up 2% in constant currency. Operating Income was $13.9 billion, and the Operating Margin was 36%. Non-GAAP Operating Income was $17.4 billion, and non-GAAP Operating Margin was 45%. Net Income was $9.9 billion, while non-GAAP Net Income was $12.5 billion. Earnings Per Share was $2.21, down 7%, but unchanged in constant currency. Non-GAAP Earnings Per Share was $2.77 down 3%, but up 2% in constant currency.
"We sold an astonishing $426 million of new SaaS and PaaS annually recurring cloud subscription revenue in Q4," said Oracle CEO, Safra Catz. "We expect our rapidly increasing cloud sales to quickly translate into significantly more revenue and profits for Oracle Corporation. For example, SaaS and PaaS revenues grew at a 34% constant currency rate in our just completed Q4, but we expect that revenue growth rate to jump to around 60% in constant currency this new fiscal year."
"Coming into Q4, we forecast selling $300 million of new SaaS and PaaS annual recurring revenue," said Oracle CEO, Mark Hurd. "We dramatically beat that forecast by selling a cloud industry all-time-record amount of $426 million of new SaaS and PaaS business. That is a year-over-year bookings growth rate of over 200%. As our multi-billion dollar cloud business gets bigger, our SaaS and PaaS revenue growth rates are on their way up to 60% in constant currency. Compare this to our primary cloud competitors' whose own revenue growth forecasts are on their way down to 44% and 22%."
"We expect to book between $1.5 and $2.0 billion of new SaaS and PaaS business this fiscal year," said Oracle Executive Chairman and CTO Larry Ellison. "That means Oracle would sell more new SaaS and PaaS business than salesforce.com plans to sell in their current fiscal year -- the only remaining question is how much more. Oracle's planned SaaS and PaaS revenue growth rate is around 60% in constant currency; salesforce.com has a planned growth rate of around 20%. When you contrast those growth rates it becomes clear that Oracle is on its way to becoming the world's largest enterprise cloud company."
The Board of Directors also declared a quarterly cash dividend of $0.15 per share of outstanding common stock. This dividend will be paid to stockholders of record as of the close of business on July 8, 2015, with a payment date of July 29, 2015.
Q4 Fiscal 2015 Earnings Conference Call and Webcast
Oracle will hold a conference call and webcast today to discuss these results at 2:00 p.m. Pacific. You may listen to the call by dialing (816) 287-5563, Passcode: 425392. To access the live webcast of this event, please visit the Oracle Investor Relations website at http://www.oracle.com/investor. In addition, Oracle's Q4 results and Fiscal 2015 financial tables are available on the Oracle Investor Relations website.
A replay of the conference call will also be available by dialing (855) 859-2056 or (404) 537-3406, Pass Code: 62149434.
About Oracle
Oracle engineers hardware and software to work together in the cloud and in your data center. For more information about Oracle (NYSE: ORCL), visit www.oracle.com or contact Investor Relations at investor_us@oracle.com or (650) 506-4073.
Trademarks
Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.
"Safe Harbor" Statement: Statements in this press release relating to Oracle's future plans, expectations, beliefs, intentions and prospects, including statements regarding our expectations of future revenues and profits from our cloud business, our expected future bookings and the growth rates for such business, are "forward-looking statements" and are subject to material risks and uncertainties. Many factors could affect our current expectations and our actual results, and could cause actual results to differ materially. We presently consider the following to be among the important factors that could cause actual results to differ materially from expectations: (1) Economic, geopolitical and market conditions, including the continued slow economic recovery in the U.S. and other parts of the world, can adversely affect our business, results of operations and financial condition, including our revenue growth and profitability, which in turn could adversely affect our stock price. (2) We may fail to achieve our financial forecasts due to such factors as delays or size reductions in transactions, fewer large transactions in a particular quarter, fluctuations in currency exchange rates, delays in delivery of new products or releases or a decline in our renewal rates for support contracts. (3) Our cloud computing strategy, including our Oracle Cloud SaaS, PaaS, IaaS and our new Oracle Cloud database as a service offerings, may not be successful. (4) If we are unable to develop new or sufficiently differentiated products and services, or to enhance and improve our products and support services in a timely manner or to position and/or price our products and services to meet market demand, customers may not buy new software licenses, cloud software subscriptions or hardware systems products or purchase or renew support contracts. (5) Our international sales and operations subject us to additional risks that can adversely affect our operating results, including risks relating to foreign currency gains and losses. (6) If the security measures for our software, hardware, services or Oracle Cloud offerings are compromised or if such offerings contain significant coding, manufacturing or configuration errors, we may experience reputational harm, legal claims and financial exposure. (7) We have an active acquisition program and our acquisitions may not be successful, may involve unanticipated costs or other integration issues or may disrupt our existing operations. A detailed discussion of these factors and other risks that affect our business is contained in our SEC filings, including our most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors." Copies of these filings are available online from the SEC or by contacting Oracle Corporation's Investor Relations Department at (650) 506-4073 or by clicking on SEC Filings on Oracle's Investor Relations website at http://www.oracle.com/investor. All information set forth in this press release is current as of June 17, 2015. Oracle undertakes no duty to update any statement in light of new information or future events.
ORACLE CORPORATION
Q4 FISCAL 2015 FINANCIAL RESULTS
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
($ in millions, except per share data)
Three Months Ended May 31,
---------------------------------
% Increase
(Decrease)
in
% Increase Constant
% of % of (Decrease) Currency
2015 Revenues 2014 Revenues in US $ (1)
------- -------- ------- -------- ---------- ----------
REVENUES
New software
licenses $ 3,138 29% $ 3,769 33% (17%) (10%)
Cloud software as
a service and
platform as a
service 416 4% 322 3% 29% 35%
Cloud
infrastructure as
a service 160 1% 128 1% 25% 31%
Software license
updates and
product support 4,686 44% 4,695 42% 0% 8%
------- -------- ------- --------
Software and
Cloud Revenues 8,400 78% 8,914 79% (6%) 2%
------- -------- ------- --------
Hardware systems
products 818 8% 870 8% (6%) 3%
Hardware systems
support 589 6% 596 5% (1%) 7%
------- -------- ------- --------
Hardware Systems
Revenues 1,407 14% 1,466 13% (4%) 5%
------- -------- ------- --------
Services
Revenues 899 8% 940 8% (4%) 5%
------- -------- ------- --------
Total Revenues 10,706 100% 11,320 100% (5%) 3%
------- -------- ------- --------
OPERATING EXPENSES
Sales and
marketing 2,212 21% 2,241 20% (1%) 6%
Cloud software as
a service and
platform as a
service 256 2% 137 1% 86% 97%
Cloud
infrastructure as
a service 90 1% 84 1% 7% 11%
Software license
updates and
product support 331 3% 303 3% 9% 19%
Hardware systems
products 438 4% 443 4% (1%) 9%
Hardware systems
support 188 2% 205 2% (9%) (1%)
Services 750 7% 759 7% (1%) 8%
Research and
development 1,435 13% 1,349 12% 6% 9%
General and
administrative 278 3% 265 2% 5% 11%
Amortization of
intangible assets 507 5% 568 5% (11%) (11%)
Acquisition
related and other 200 2% 20 0% 895% 900%
Restructuring 39 0% 37 0% 6% 27%
------- -------- ------- --------
Total
Operating
Expenses 6,724 63% 6,411 57% 5% 11%
------- -------- ------- --------
OPERATING INCOME 3,982 37% 4,909 43% (19%) (9%)
Interest expense (325) (3%) (239) (2%) 36% 36%
Non-operating
income (expense),
net 40 1% (81) 0% 150% 149%
------- -------- ------- --------
INCOME BEFORE
PROVISION FOR
INCOME TAXES 3,697 35% 4,589 41% (19%) (9%)
------- -------- ------- --------
Provision for
income taxes 939 9% 943 9% 0% 13%
------- -------- ------- --------
NET INCOME $ 2,758 26% $ 3,646 32% (24%) (14%)
======= ======== ======= ========
EARNINGS PER SHARE:
Basic $ 0.63 $ 0.81
Diluted $ 0.62 $ 0.80
WEIGHTED AVERAGE
COMMON SHARES
OUTSTANDING:
Basic 4,359 4,475
Diluted 4,463 4,569
(1) We compare the percent change in the results from one period to another
period using constant currency disclosure. We present constant currency
information to provide a framework for assessing how our underlying
businesses performed excluding the effect of foreign currency rate
fluctuations. To present this information, current and comparative prior
period results for entities reporting in currencies other than United
States dollars are converted into United States dollars at the exchange
rates in effect on May 31, 2014, which was the last day of our prior
fiscal year, rather than the actual exchange rates in effect during the
respective periods. Movements in international currencies relative to
the United States dollar during the three months ended May 31, 2015
compared with the corresponding prior year period decreased our revenues
by 8 percentage points, operating expenses by 6 percentage points and
operating income by 10 percentage points.
ORACLE CORPORATION
Q4 FISCAL 2015 FINANCIAL RESULTS
RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1)
($ in millions, except per share data)
Three Months Ended May 31,
-----------------------------------------------
2015 2014
2015 Non- 2014 Non-
GAAP Adj. GAAP GAAP Adj. GAAP
------- ------- ------- ------- ------- -------
TOTAL REVENUES (3) (4) (5) $10,706 $ 6 $10,712 $11,320 $ 6 $11,326
TOTAL SOFTWARE AND CLOUD
REVENUES (3) (4) $ 8,400 $ 5 $ 8,405 $ 8,914 $ 5 $ 8,919
New software licenses 3,138 - 3,138 3,769 - 3,769
Cloud software as a
service and platform as a
service (3) 416 3 419 322 5 327
Cloud infrastructure as a
service 160 - 160 128 - 128
Software license updates
and product support (4) 4,686 2 4,688 4,695 - 4,695
TOTAL HARDWARE SYSTEMS
REVENUES (5) $ 1,407 $ 1 $ 1,408 $ 1,466 $ 1 $ 1,467
Hardware systems products 818 - 818 870 - 870
Hardware systems support
(5) 589 1 590 596 1 597
TOTAL OPERATING EXPENSES $ 6,724 $ (990) $ 5,734 $ 6,411 $ (841) $ 5,570
Stock-based compensation
(6) 244 (244) - 216 (216) -
Amortization of intangible
assets (7) 507 (507) - 568 (568) -
Acquisition related and
other 200 (200) - 20 (20) -
Restructuring 39 (39) - 37 (37) -
OPERATING INCOME $ 3,982 $ 996 $ 4,978 $ 4,909 $ 847 $ 5,756
OPERATING MARGIN % 37% 46% 43% 51%
INCOME TAX EFFECTS (8) $ 939 $ 258 $ 1,197 $ 943 $ 308 $ 1,251
NET INCOME $ 2,758 $ 738 $ 3,496 $ 3,646 $ 539 $ 4,185
DILUTED EARNINGS PER SHARE $ 0.62 $ 0.78 $ 0.80 $ 0.92
DILUTED WEIGHTED AVERAGE
COMMON SHARES OUTSTANDING 4,463 - 4,463 4,569 - 4,569
% Increase (Decrease)
% Increase (Decrease) in Constant Currency
in US $ (2)
--------------------- ---------------------
GAAP Non-GAAP GAAP Non-GAAP
---------- ---------- ---------- ----------
TOTAL REVENUES (3) (4) (5) (5%) (5%) 3% 3%
TOTAL SOFTWARE AND CLOUD
REVENUES (3) (4) (6%) (6%) 2% 2%
New software licenses (17%) (17%) (10%) (10%)
Cloud software as a
service and platform as a
service (3) 29% 28% 35% 34%
Cloud infrastructure as a
service 25% 25% 31% 31%
Software license updates
and product support (4) 0% 0% 8% 8%
TOTAL HARDWARE SYSTEMS
REVENUES (5) (4%) (4%) 5% 5%
Hardware systems products (6%) (6%) 3% 3%
Hardware systems support
(5) (1%) (1%) 7% 7%
TOTAL OPERATING EXPENSES 5% 3% 11% 10%
Stock-based compensation
(6) 13% * 13% *
Amortization of intangible
assets (7) (11%) * (11%) *
Acquisition related and
other 895% * 900% *
Restructuring 6% * 27% *
OPERATING INCOME (19%) (14%) (9%) (5%)
OPERATING MARGIN % (617) bp. (435) bp. (483) bp. (365) bp.
INCOME TAX EFFECTS (8) 0% (4%) 13% 6%
NET INCOME (24%) (16%) (14%) (8%)
DILUTED EARNINGS PER SHARE (23%) (14%) (12%) (5%)
DILUTED WEIGHTED AVERAGE
COMMON SHARES OUTSTANDING (2%) (2%) (2%) (2%)
(1) This presentation includes non-GAAP measures. Our non-GAAP measures are
not meant to be considered in isolation or as a substitute for
comparable GAAP measures, and should be read only in conjunction with
our consolidated financial statements prepared in accordance with GAAP.
For a detailed explanation of the adjustments made to comparable GAAP
measures, the reasons why management uses these measures, the usefulness
of these measures and the material limitations on the usefulness of
these measures, please see Appendix A.
(2) We compare the percent change in the results from one period to another
period using constant currency disclosure. We present constant currency
information to provide a framework for assessing how our underlying
businesses performed excluding the effect of foreign currency rate
fluctuations. To present this information, current and comparative prior
period results for entities reporting in currencies other than United
States dollars are converted into United States dollars at the exchange
rates in effect on May 31, 2014, which was the last day of our prior
fiscal year, rather than the actual exchange rates in effect during the
respective periods.
(3) As of May 31, 2015, approximately $4 million in estimated revenues
related to assumed cloud software as a service and platform as a service
contracts will not be recognized for fiscal 2016 due to business
combination accounting rules.
(4) As of May 31, 2015, approximately $2 million in estimated revenues
related to assumed software license updates and product support
contracts will not be recognized for fiscal 2016 due to business
combination accounting rules.
(5) As of May 31, 2015, approximately $1 million in estimated revenues
related to hardware systems support contracts will not be recognized for
fiscal 2016 due to business combination accounting rules.
(6) Stock-based compensation was included in the following GAAP operating
expense categories:
Three Months Ended Three Months Ended
May 31, 2015 May 31, 2014
----------------------- -----------------------
Non- Non-
GAAP Adj. GAAP GAAP Adj. GAAP
------- ------ ------- ------- ------ -------
Sales and marketing $ 49 $ (49) $ - $ 46 $ (46) $ -
Cloud software as a
service and platform as
a service 3 (3) - 3 (3) -
Cloud infrastructure as a
service 1 (1) - 1 (1) -
Software license updates
and product support 6 (6) - 6 (6) -
Hardware systems products 2 (2) - 1 (1) -
Hardware systems support 2 (2) - 1 (1) -
Services 8 (8) - 12 (12) -
Research and development 142 (142) - 101 (101) -
General and
administrative 31 (31) - 45 (45) -
------- ------ ------- ------- ------ -------
Subtotal 244 (244) - 216 (216) -
------- ------ ------- ------- ------ -------
Acquisition related and
other - - - 7 (7) -
------- ------ ------- ------- ------ -------
Total stock-based
compensation $ 244 $ (244) $ - $ 223 $ (223) $ -
======= ====== ======= ======= ====== =======
(7) Estimated future annual amortization expense related to intangible
assets as of May 31, 2015 was as follows:
Fiscal 2016 $ 1,624
Fiscal 2017 995
Fiscal 2018 848
Fiscal 2019 742
Fiscal 2020 598
Thereafter 1,599
-------
Total intangible
assets, net $ 6,406
=======
(8) Income tax effects were calculated reflecting an effective GAAP tax
rate of 25.4% and 20.5% in the fourth quarter of fiscal 2015 and 2014,
respectively, and an effective non-GAAP tax rate of 25.5% and 23.0% in
the fourth quarter of fiscal 2015 and 2014, respectively. The
difference between our GAAP and non-GAAP tax rates in the fourth
quarter of fiscal 2014 was primarily due to the net tax effects of
acquisition related items, including the tax effects of amortization of
intangible assets.
*Not meaningful
ORACLE CORPORATION
FISCAL 2015 YEAR TO DATE FINANCIAL RESULTS
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
($ in millions, except per share data)
Year Ended May 31,
----------------------------------
% Increase
(Decrease)
in
% Increase Constant
% of % of (Decrease) Currency
2015 Revenues 2014 Revenues in US $ (1)
-------- -------- ------- -------- ---------- ----------
REVENUES
New software
licenses $ 8,535 22% $ 9,416 25% (9%) (4%)
Cloud software as
a service and
platform as a
service 1,485 4% 1,121 3% 32% 35%
Cloud
infrastructure as
a service 608 2% 456 1% 33% 36%
Software license
updates and
product support 18,847 49% 18,206 47% 4% 8%
-------- -------- ------- --------
Software and
Cloud Revenues 29,475 77% 29,199 76% 1% 5%
-------- -------- ------- --------
Hardware systems
products 2,825 8% 2,976 8% (5%) 0%
Hardware systems
support 2,380 6% 2,396 6% (1%) 4%
-------- -------- ------- --------
Hardware Systems
Revenues 5,205 14% 5,372 14% (3%) 2%
-------- -------- ------- --------
Services Revenues 3,546 9% 3,704 10% (4%) 0%
-------- -------- ------- --------
Total Revenues 38,226 100% 38,275 100% 0% 4%
-------- -------- ------- --------
OPERATING EXPENSES
Sales and
marketing 7,655 20% 7,567 20% 1% 6%
Cloud software as
a service and
platform as a
service 773 2% 455 1% 70% 75%
Cloud
infrastructure as
a service 344 1% 308 1% 12% 14%
Software license
updates and
product support 1,199 3% 1,162 3% 3% 8%
Hardware systems
products 1,471 4% 1,521 4% (3%) 3%
Hardware systems
support 816 2% 836 2% (2%) 2%
Services 2,929 8% 2,954 8% (1%) 4%
Research and
development 5,524 14% 5,151 13% 7% 8%
General and
administrative 1,077 3% 1,038 3% 4% 7%
Amortization of
intangible assets 2,149 5% 2,300 6% (7%) (7%)
Acquisition
related and other 211 1% 41 0% 412% 411%
Restructuring 207 1% 183 0% 14% 22%
-------- -------- ------- --------
Total
Operating
Expenses 24,355 64% 23,516 61% 4% 7%
-------- -------- ------- --------
OPERATING INCOME 13,871 36% 14,759 39% (6%) 0%
Interest expense (1,143) (3%) (914) (3%) 25% 25%
Non-operating
income (expense),
net 106 0% (141) 0% 175% 187%
-------- -------- ------- --------
INCOME BEFORE
PROVISION FOR
INCOME TAXES 12,834 33% 13,704 36% (6%) 1%
-------- -------- ------- --------
Provision for
income taxes 2,896 7% 2,749 7% 5% 13%
-------- -------- ------- --------
NET INCOME $ 9,938 26% $10,955 29% (9%) (2%)
======== ======== ======= ========
EARNINGS PER SHARE:
Basic $ 2.26 $ 2.42
Diluted $ 2.21 $ 2.38
WEIGHTED AVERAGE
COMMON SHARES
OUTSTANDING:
Basic 4,404 4,528
Diluted 4,503 4,604
(1) We compare the percent change in the results from one period to another
period using constant currency disclosure. We present constant currency
information to provide a framework for assessing how our underlying
businesses performed excluding the effect of foreign currency rate
fluctuations. To present this information, current and comparative prior
period results for entities reporting in currencies other than United
States dollars are converted into United States dollars at the exchange
rates in effect on May 31, 2014, which was the last day of our prior
fiscal year, rather than the actual exchange rates in effect during the
respective periods. Movements in international currencies relative to
the United States dollar during the year ended May 31, 2015 compared
with the corresponding prior year period decreased our revenues by 4
percentage points, operating expenses by 3 percentage points and
operating income by 6 percentage points.
ORACLE CORPORATION
FISCAL 2015 YEAR TO DATE FINANCIAL RESULTS
RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1)
($ in millions, except per share data)
Year Ended May 31,
-----------------------------------------------------
2015 2015 2014 2014
GAAP Adj. Non-GAAP GAAP Adj. Non-GAAP
-------- -------- -------- -------- -------- --------
TOTAL REVENUES (3)
(4) (5) $ 38,226 $ 27 $ 38,253 $ 38,275 $ 31 $ 38,306
TOTAL SOFTWARE AND
CLOUD REVENUES (3)
(4) $ 29,475 $ 23 $ 29,498 $ 29,199 $ 20 $ 29,219
New software
licenses 8,535 - 8,535 9,416 - 9,416
Cloud software as a
service and
platform as a
service (3) 1,485 12 1,497 1,121 17 1,138
Cloud
infrastructure as
a service 608 - 608 456 - 456
Software license
updates and
product support
(4) 18,847 11 18,858 18,206 3 18,209
TOTAL HARDWARE
SYSTEMS REVENUES (5) $ 5,205 $ 4 $ 5,209 $ 5,372 $ 11 $ 5,383
Hardware systems
products 2,825 - 2,825 2,976 - 2,976
Hardware systems
support (5) 2,380 4 2,384 2,396 11 2,407
TOTAL OPERATING
EXPENSES $ 24,355 $(3,495) $ 20,860 $ 23,516 $(3,319) $ 20,197
Stock-based
compensation (6) 928 (928) - 795 (795) -
Amortization of
intangible assets
(7) 2,149 (2,149) - 2,300 (2,300) -
Acquisition related
and other 211 (211) - 41 (41) -
Restructuring 207 (207) - 183 (183) -
OPERATING INCOME $ 13,871 $ 3,522 $ 17,393 $ 14,759 $ 3,350 $ 18,109
OPERATING MARGIN % 36% 45% 39% 47%
INCOME TAX EFFECTS
(8) $ 2,896 $ 971 $ 3,867 $ 2,749 $ 1,091 $ 3,840
NET INCOME $ 9,938 $ 2,551 $ 12,489 $ 10,955 $ 2,259 $ 13,214
DILUTED EARNINGS PER
SHARE $ 2.21 $ 2.77 $ 2.38 $ 2.87
DILUTED WEIGHTED
AVERAGE COMMON
SHARES OUTSTANDING 4,503 - 4,503 4,604 - 4,604
% Increase (Decrease)
% Increase (Decrease) in Constant Currency
in US $ (2)
--------------------- ---------------------
GAAP Non-GAAP GAAP Non-GAAP
---------- ---------- ---------- ----------
TOTAL REVENUES (3)
(4) (5) 0% 0% 4% 4%
TOTAL SOFTWARE AND
CLOUD REVENUES (3)
(4) 1% 1% 5% 5%
New software
licenses (9%) (9%) (4%) (4%)
Cloud software as a
service and
platform as a
service (3) 32% 32% 35% 34%
Cloud
infrastructure as
a service 33% 33% 36% 36%
Software license
updates and
product support
(4) 4% 4% 8% 8%
TOTAL HARDWARE
SYSTEMS REVENUES (5) (3%) (3%) 2% 1%
Hardware systems
products (5%) (5%) 0% 0%
Hardware systems
support (5) (1%) (1%) 4% 3%
TOTAL OPERATING
EXPENSES 4% 3% 7% 7%
Stock-based
compensation (6) 17% * 17% *
Amortization of
intangible assets
(7) (7%) * (7%) *
Acquisition related
and other 412% * 411% *
Restructuring 14% * 22% *
OPERATING INCOME (6%) (4%) 0% 1%
OPERATING MARGIN % (227) bp. (180) bp. (146) bp. (135) bp.
INCOME TAX EFFECTS
(8) 5% 1% 13% 7%
NET INCOME (9%) (5%) (2%) 0%
DILUTED EARNINGS PER
SHARE (7%) (3%) 0% 2%
DILUTED WEIGHTED
AVERAGE COMMON
SHARES OUTSTANDING (2%) (2%) (2%) (2%)
(1) This presentation includes non-GAAP measures. Our non-GAAP measures are
not meant to be considered in isolation or as a substitute for
comparable GAAP measures, and should be read only in conjunction with
our consolidated financial statements prepared in accordance with GAAP.
For a detailed explanation of the adjustments made to comparable GAAP
measures, the reasons why management uses these measures, the usefulness
of these measures and the material limitations on the usefulness of
these measures, please see Appendix A.
(2) We compare the percent change in the results from one period to another
period using constant currency disclosure. We present constant currency
information to provide a framework for assessing how our underlying
businesses performed excluding the effect of foreign currency rate
fluctuations. To present this information, current and comparative prior
period results for entities reporting in currencies other than United
States dollars are converted into United States dollars at the exchange
rates in effect on May 31, 2014, which was the last day of our prior
fiscal year, rather than the actual exchange rates in effect during the
respective periods.
(3) As of May 31, 2015, approximately $4 million in estimated revenues
related to assumed cloud software as a service and platform as a service
contracts will not be recognized for fiscal 2016 due to business
combination accounting rules.
(4) As of May 31, 2015, approximately $2 million in estimated revenues
related to assumed software license updates and product support
contracts will not be recognized for fiscal 2016 due to business
combination accounting rules.
(5) As of May 31, 2015, approximately $1 million in estimated revenues
related to hardware systems support contracts will not be recognized for
fiscal 2016 due to business combination accounting rules.
(6) Stock-based compensation was included in the following GAAP operating
expense categories:
Year Ended Year Ended
May 31, 2015 May 31, 2014
----------------------- -----------------------
Non- Non-
GAAP Adj. GAAP GAAP Adj. GAAP
------- ------ ------- ------- ------ -------
Sales and marketing $ 180 $ (180) $ - $ 165 $ (165) $ -
Cloud software as a
service and platform as
a service 10 (10) - 8 (8) -
Cloud infrastructure as a
service 5 (5) - 4 (4) -
Software license updates
and product support 21 (21) - 22 (22) -
Hardware systems products 6 (6) - 5 (5) -
Hardware systems support 6 (6) - 6 (6) -
Services 30 (30) - 29 (29) -
Research and development 522 (522) - 385 (385) -
General and
administrative 148 (148) - 171 (171) -
------- ------ ------- ------- ------ -------
Subtotal 928 (928) - 795 (795) -
------- ------ ------- ------- ------ -------
Acquisition related and
other 5 (5) - 10 (10) -
------- ------ ------- ------- ------ -------
Total stock-based
compensation $ 933 $ (933) $ - $ 805 $ (805) $ -
======= ====== ======= ======= ====== =======
(7) Estimated future annual amortization expense related to intangible
assets as of May 31, 2015 was as follows:
Fiscal 2016 $ 1,624
Fiscal 2017 995
Fiscal 2018 848
Fiscal 2019 742
Fiscal 2020 598
Thereafter 1,599
-------
Total intangible
assets, net $ 6,406
=======
(8) Income tax effects were calculated reflecting an effective GAAP tax rate
of 22.6% and 20.1% in fiscal 2015 and 2014, respectively, and an
effective non-GAAP tax rate of 23.6% and 22.5% in fiscal 2015 and 2014,
respectively. The differences between our GAAP and non-GAAP tax rates in
fiscal 2015 and 2014 were primarily due to the net tax effects of
acquisition related items, primarily the tax effects of amortization of
intangible assets.
*Not meaningful
ORACLE CORPORATION
FISCAL 2015 FINANCIAL RESULTS
CONDENSED CONSOLIDATED BALANCE SHEETS
($ in millions)
May 31, May 31,
2015 2014
-------------- --------------
ASSETS
Current Assets:
Cash and cash equivalents $ 21,716 $ 17,769
Marketable securities 32,652 21,050
Trade receivables, net 5,618 6,087
Inventories 314 189
Deferred tax assets 663 914
Prepaid expenses and other current assets 2,220 2,119
-------------- --------------
Total Current Assets 63,183 48,128
Non-Current Assets:
Property, plant and equipment, net 3,686 3,061
Intangible assets, net 6,406 6,137
Goodwill 34,087 29,652
Deferred tax assets 795 837
Other assets 2,746 2,451
-------------- --------------
Total Non-Current Assets 47,720 42,138
-------------- --------------
TOTAL ASSETS $ 110,903 $ 90,266
============== ==============
LIABILITIES AND EQUITY
Current Liabilities:
Notes payable, current $ 1,999 $ 1,508
Accounts payable 806 471
Accrued compensation and related benefits 1,839 1,940
Income taxes payable 532 416
Deferred revenues 7,245 7,269
Other current liabilities 2,870 2,785
-------------- --------------
Total Current Liabilities 15,291 14,389
Non-Current Liabilities:
Notes payable, non-current 39,959 22,589
Income taxes payable 4,386 4,184
Other non-current liabilities 2,169 1,657
-------------- --------------
Total Non-Current Liabilities 46,514 28,430
Equity 49,098 47,447
-------------- --------------
TOTAL LIABILITIES AND EQUITY $ 110,903 $ 90,266
============== ==============
ORACLE CORPORATION
FISCAL 2015 FINANCIAL RESULTS
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
($ in millions)
Year Ended May 31,
----------------------------
2015 2014
------------- -------------
Cash Flows From Operating Activities:
Net income $ 9,938 $ 10,955
Adjustments to reconcile net income to net
cash provided by operating activities:
Depreciation 712 608
Amortization of intangible assets 2,149 2,300
Deferred income taxes (548) (248)
Stock-based compensation 933 805
Tax benefits on the exercise of stock
options and vesting of restricted stock-
based awards 396 480
Excess tax benefits on the exercise of
stock options and vesting of restricted
stock-based awards (244) (250)
Other, net 327 311
Changes in operating assets and
liabilities, net of effects from
acquisitions:
Decrease in trade receivables, net 264 146
(Increase) decrease in inventories (96) 57
Increase in prepaid expenses and other
assets (387) (143)
Increase in accounts payable and other
liabilities 247 48
Decrease in income taxes payable (10) (320)
Increase in deferred revenues 655 172
------------- -------------
Net cash provided by operating
activities 14,336 14,921
------------- -------------
Cash Flows From Investing Activities:
Purchases of marketable securities and other
investments (31,421) (32,316)
Proceeds from maturities and sales of
marketable securities and other investments 20,004 28,845
Acquisitions, net of cash acquired (6,239) (3,488)
Capital expenditures (1,391) (580)
------------- -------------
Net cash used for investing activities (19,047) (7,539)
------------- -------------
Cash Flows From Financing Activities:
Payments for repurchases of common stock (8,087) (9,813)
Proceeds from issuances of common stock 1,802 2,135
Payments of dividends to stockholders (2,255) (2,178)
Proceeds from borrowings, net of issuance
costs 19,842 5,566
Repayments of borrowings (1,500) -
Excess tax benefits on the exercise of stock
options and vesting of restricted stock-
based awards 244 250
Distributions to noncontrolling interests (196) (28)
------------- -------------
Net cash provided by (used for)
financing activities 9,850 (4,068)
------------- -------------
Effect of exchange rate changes on cash and
cash equivalents (1,192) (158)
------------- -------------
Net increase in cash and cash equivalents 3,947 3,156
------------- -------------
Cash and cash equivalents at beginning of
period 17,769 14,613
------------- -------------
Cash and cash equivalents at end of period $ 21,716 $ 17,769
============= =============
ORACLE CORPORATION
FISCAL 2015 FINANCIAL RESULTS
FREE CASH FLOW - TRAILING 4-QUARTERS (1)
($ in millions)
Fiscal 2014
--------------------------------------
Q1 Q2 Q3 Q4
-------- -------- -------- --------
GAAP Operating Cash Flow $ 14,845 $ 15,196 $ 15,029 $ 14,921
Capital Expenditures (2) (664) (578) (609) (580)
-------- -------- -------- --------
Free Cash Flow $ 14,181 $ 14,618 $ 14,420 $ 14,341
======== ======== ======== ========
% Growth over prior year 6% 14% 11% 6%
GAAP Net Income $ 11,082 $ 11,054 $ 11,115 $ 10,955
Free Cash Flow as a % of Net Income 128% 132% 130% 131%
Fiscal 2015
---------------------------------------
Q1 Q2 Q3 Q4
-------- -------- -------- --------
GAAP Operating Cash Flow $ 15,357 $ 15,273 $ 14,509 $ 14,336
Capital Expenditures (2) (628) (727) (948) (1,391)
-------- -------- -------- --------
Free Cash Flow $ 14,729 $ 14,546 $ 13,561 $ 12,945
======== ======== ======== ========
% Growth over prior year 4% 0% (6)% (10)%
GAAP Net Income $ 10,948 $ 10,896 $ 10,827 $ 9,938
Free Cash Flow as a % of Net Income 135% 133% 125% 130%
(1) To supplement our statements of cash flows presented on a GAAP basis, we
use non-GAAP measures of cash flows on a trailing 4-quarter basis to
analyze cash flow generated from operations. We believe free cash flow
is also useful as one of the bases for comparing our performance with
our competitors. The presentation of non-GAAP free cash flow is not
meant to be considered in isolation or as an alternative to net income
as an indicator of our performance, or as an alternative to cash flows
from operating activities as a measure of liquidity.
(2) Derived from capital expenditures as reported in cash flows from
investing activities as per our consolidated statements of cash flows
presented in accordance with GAAP.
ORACLE CORPORATION
FISCAL 2015 FINANCIAL RESULTS
SUPPLEMENTAL ANALYSIS OF GAAP REVENUES AND HEADCOUNT (1)
($ in millions)
Fiscal 2014
----------------------------------------------------
Q1 Q2 Q3 Q4 TOTAL
-------- -------- -------- -------- --------
REVENUES
New software
licenses $ 1,399 $ 2,121 $ 2,128 $ 3,769 $ 9,416
Cloud software as a
service and
platform as a
service 254 259 287 322 1,121
Cloud
infrastructure as
a service 109 97 121 128 456
Software license
updates and
product support 4,431 4,516 4,564 4,695 18,206
-------- -------- -------- -------- --------
Software and
Cloud Revenues 6,193 6,993 7,100 8,914 29,199
Hardware systems
products 669 714 725 870 2,976
Hardware systems
support 592 609 598 596 2,396
-------- -------- -------- -------- --------
Hardware Systems
Revenues 1,261 1,323 1,323 1,466 5,372
Services Revenues 918 959 884 940 3,704
-------- -------- -------- -------- --------
Total Revenues $ 8,372 $ 9,275 $ 9,307 $ 11,320 $ 38,275
======== ======== ======== ======== ========
AS REPORTED REVENUE
GROWTH RATES
New software
licenses 2% (2%) 1% 0% 0%
Cloud software as a
service and
platform as a
service 25% 19% 24% 25% 23%
Cloud
infrastructure as
a service (9%) (15%) 10% 13% 0%
Software license
updates and
product support 7% 6% 5% 7% 6%
Software and
Cloud Revenues 6% 3% 5% 4% 5%
Hardware systems
products (14%) (3%) 8% 2% (2%)
Hardware systems
support 3% 4% 5% 2% 4%
Hardware Systems
Revenues (7%) 0% 7% 2% 0%
Services Revenues (8%) (5%) (5%) (4%) (5%)
Total Revenues 2% 2% 4% 3% 3%
CONSTANT CURRENCY
GROWTH RATES (2)
New software
licenses 5% 0% 3% (1%) 1%
Cloud software as a
service and
platform as a
service 26% 20% 25% 25% 24%
Cloud
infrastructure as
a service (7%) (14%) 11% 13% 1%
Software license
updates and
product support 8% 7% 7% 6% 7%
Software and
Cloud Revenues 8% 5% 6% 4% 5%
Hardware systems
products (13%) (2%) 10% 3% (1%)
Hardware systems
support 5% 5% 7% 2% 5%
Hardware Systems
Revenues (6%) 1% 9% 3% 2%
Services Revenues (6%) (3%) (3%) (3%) (4%)
Total Revenues 4% 3% 6% 3% 4%
-------- -------- -------- -------- --------
GEOGRAPHIC REVENUES
REVENUES
Americas $ 4,517 $ 4,995 $ 4,953 $ 5,857 $ 20,323
Europe, Middle East
& Africa 2,439 2,817 2,923 3,768 11,946
Asia Pacific 1,416 1,463 1,431 1,695 6,006
-------- -------- -------- -------- --------
Total Revenues $ 8,372 $ 9,275 $ 9,307 $ 11,320 $ 38,275
======== ======== ======== ======== ========
HEADCOUNT
GEOGRAPHIC AREA
Americas 53,465 53,073 53,799 53,827
Europe, Middle East
& Africa 23,349 23,178 23,350 23,339
Asia Pacific 45,513 45,617 45,561 45,108
-------- -------- -------- -------- --------
Total Company 122,327 121,868 122,710 122,274
======== ======== ======== ======== ========
Fiscal 2015
----------------------------------------------------
Q1 Q2 Q3 Q4 TOTAL
-------- -------- -------- -------- --------
REVENUES
New software
licenses $ 1,370 $ 2,045 $ 1,982 $ 3,138 $ 8,535
Cloud software as a
service and
platform as a
service 337 361 372 416 1,485
Cloud
infrastructure as
a service 138 155 155 160 608
Software license
updates and
product support 4,731 4,768 4,661 4,686 18,847
-------- -------- -------- -------- --------
Software and
Cloud Revenues 6,576 7,329 7,170 8,400 29,475
Hardware systems
products 578 717 712 818 2,825
Hardware systems
support 587 617 587 589 2,380
-------- -------- -------- -------- --------
Hardware Systems
Revenues 1,165 1,334 1,299 1,407 5,205
Services Revenues 855 935 858 899 3,546
-------- -------- -------- -------- --------
Total Revenues $ 8,596 $ 9,598 $ 9,327 $ 10,706 $ 38,226
======== ======== ======== ======== ========
AS REPORTED REVENUE
GROWTH RATES
New software
licenses (2%) (4%) (7%) (17%) (9%)
Cloud software as a
service and
platform as a
service 32% 39% 30% 29% 32%
Cloud
infrastructure as
a service 26% 60% 28% 25% 33%
Software license
updates and
product support 7% 6% 2% 0% 4%
Software and
Cloud Revenues 6% 5% 1% (6%) 1%
Hardware systems
products (14%) 0% (2%) (6%) (5%)
Hardware systems
support (1%) 1% (2%) (1%) (1%)
Hardware Systems
Revenues (8%) 1% (2%) (4%) (3%)
Services Revenues (7%) (3%) (3%) (4%) (4%)
Total Revenues 3% 3% 0% (5%) 0%
CONSTANT CURRENCY
GROWTH RATES (2)
New software
licenses (2%) 0% 0% (10%) (4%)
Cloud software as a
service and
platform as a
service 32% 41% 34% 35% 35%
Cloud
infrastructure as
a service 25% 62% 32% 31% 36%
Software license
updates and
product support 6% 9% 8% 8% 8%
Software and
Cloud Revenues 6% 8% 7% 2% 5%
Hardware systems
products (14%) 4% 6% 3% 0%
Hardware systems
support (2%) 5% 4% 7% 4%
Hardware Systems
Revenues (8%) 4% 5% 5% 2%
Services Revenues (8%) 1% 3% 5% 0%
Total Revenues 2% 7% 6% 3% 4%
-------- -------- -------- -------- --------
GEOGRAPHIC REVENUES
REVENUES
Americas $ 4,620 $ 5,221 $ 5,134 $ 6,133 $ 21,107
Europe, Middle East
& Africa 2,589 2,911 2,813 3,067 11,380
Asia Pacific 1,387 1,466 1,380 1,506 5,739
-------- -------- -------- -------- --------
Total Revenues $ 8,596 $ 9,598 $ 9,327 $ 10,706 $ 38,226
======== ======== ======== ======== ========
HEADCOUNT
GEOGRAPHIC AREA
Americas 54,073 57,243 58,117 58,415
Europe, Middle East
& Africa 23,349 26,997 26,989 26,988
Asia Pacific 45,496 46,312 46,456 46,962
-------- -------- -------- -------- --------
Total Company 122,918 130,552 131,562 132,365
======== ======== ======== ======== ========
(1) The sum of the quarterly financial information may vary from year-to-
date financial information due to rounding.
(2) We compare the percent change in the results from one period to another
period using constant currency disclosure. We present constant currency
information to provide a framework for assessing how our underlying
businesses performed excluding the effect of foreign currency rate
fluctuations. To present this information, current and comparative prior
period results for entities reporting in currencies other than United
States dollars are converted into United States dollars at the exchange
rates in effect on May 31, 2014 and 2013 for the fiscal 2015 and fiscal
2014 constant currency growth rate calculations presented, respectively,
rather than the actual exchange rates in effect during the respective
periods.
ORACLE CORPORATION
FISCAL 2015 FINANCIAL RESULTS
SUPPLEMENTAL GEOGRAPHIC REVENUES ANALYSIS (1)
($ in millions)
Fiscal 2014
-----------------------------------------------
Q1 Q2 Q3 Q4 TOTAL
------- ------- ------- ------- -------
AMERICAS
Software and cloud
revenues $ 3,434 $ 3,808 $ 3,847 $ 4,649 $15,737
======= ======= ======= ======= =======
Hardware systems
revenues $ 640 $ 694 $ 655 $ 747 $ 2,736
======= ======= ======= ======= =======
AS REPORTED GROWTH RATES
Software and cloud
revenues 9% 5% 5% (1%) 4%
Hardware systems
revenues (2%) 7% 14% 3% 5%
CONSTANT CURRENCY GROWTH
RATES (2)
Software and cloud
revenues 9% 6% 7% 1% 5%
Hardware systems
revenues (1%) 8% 16% 5% 6%
------- ------- ------- ------- -------
EUROPE / MIDDLE EAST /
AFRICA
Software and cloud
revenues $ 1,816 $ 2,155 $ 2,245 $ 3,032 $ 9,249
======= ======= ======= ======= =======
Hardware systems
revenues $ 358 $ 372 $ 403 $ 440 $ 1,572
======= ======= ======= ======= =======
AS REPORTED GROWTH RATES
Software and cloud
revenues 7% 8% 8% 15% 10%
Hardware systems
revenues (11%) (5%) 3% 7% (1%)
CONSTANT CURRENCY GROWTH
RATES (2)
Software and cloud
revenues 4% 6% 6% 10% 7%
Hardware systems
revenues (13%) (6%) 2% 3% (3%)
------- ------- ------- ------- -------
ASIA PACIFIC
Software and cloud
revenues $ 943 $ 1,030 $ 1,008 $ 1,233 $ 4,213
======= ======= ======= ======= =======
Hardware systems
revenues $ 263 $ 257 $ 265 $ 279 $ 1,064
======= ======= ======= ======= =======
AS REPORTED GROWTH RATES
Software and cloud
revenues (3%) (9%) (5%) 0% (4%)
Hardware systems
revenues (12%) (9%) (3%) (4%) (7%)
CONSTANT CURRENCY GROWTH
RATES (2)
Software and cloud
revenues 8% 0% 3% 3% 3%
Hardware systems
revenues (5%) (3%) 3% (3%) (2%)
------- ------- ------- ------- -------
TOTAL COMPANY
Software and cloud
revenues $ 6,193 $ 6,993 $ 7,100 $ 8,914 $29,199
======= ======= ======= ======= =======
Hardware systems
revenues $ 1,261 $ 1,323 $ 1,323 $ 1,466 $ 5,372
======= ======= ======= ======= =======
AS REPORTED GROWTH RATES
Software and cloud
revenues 6% 3% 5% 4% 5%
Hardware systems
revenues (7%) 0% 7% 2% 0%
CONSTANT CURRENCY GROWTH
RATES (2)
Software and cloud
revenues 8% 5% 6% 4% 5%
Hardware systems
revenues (6%) 1% 9% 3% 2%
Fiscal 2015
-----------------------------------------------
Q1 Q2 Q3 Q4 TOTAL
------- ------- ------- ------- -------
AMERICAS
Software and cloud
revenues $ 3,614 $ 4,044 $ 4,021 $ 4,926 $16,604
======= ======= ======= ======= =======
Hardware systems
revenues $ 583 $ 716 $ 686 $ 751 $ 2,737
======= ======= ======= ======= =======
AS REPORTED GROWTH RATES
Software and cloud
revenues 5% 6% 5% 6% 6%
Hardware systems
revenues (9%) 3% 5% 1% 0%
CONSTANT CURRENCY GROWTH
RATES (2)
Software and cloud
revenues 6% 8% 7% 9% 7%
Hardware systems
revenues (8%) 5% 7% 4% 2%
------- ------- ------- ------- -------
EUROPE / MIDDLE EAST /
AFRICA
Software and cloud
revenues $ 1,992 $ 2,234 $ 2,169 $ 2,369 $ 8,764
======= ======= ======= ======= =======
Hardware systems
revenues $ 338 $ 380 $ 379 $ 423 $ 1,519
======= ======= ======= ======= =======
AS REPORTED GROWTH RATES
Software and cloud
revenues 10% 4% (3%) (22%) (5%)
Hardware systems
revenues (6%) 2% (6%) (4%) (3%)
CONSTANT CURRENCY GROWTH
RATES (2)
Software and cloud
revenues 7% 9% 9% (8%) 3%
Hardware systems
revenues (7%) 8% 8% 15% 6%
------- ------- ------- ------- -------
ASIA PACIFIC
Software and cloud
revenues $ 970 $ 1,051 $ 980 $ 1,105 $ 4,107
======= ======= ======= ======= =======
Hardware systems
revenues $ 244 $ 238 $ 234 $ 233 $ 949
======= ======= ======= ======= =======
AS REPORTED GROWTH RATES
Software and cloud
revenues 3% 2% (3%) (10%) (3%)
Hardware systems
revenues (8%) (7%) (12%) (16%) (11%)
CONSTANT CURRENCY GROWTH
RATES (2)
Software and cloud
revenues 2% 7% 4% (1%) 3%
Hardware systems
revenues (8%) (3%) (6%) (8%) (6%)
------- ------- ------- ------- -------
TOTAL COMPANY
Software and cloud
revenues $ 6,576 $ 7,329 $ 7,170 $ 8,400 $29,475
======= ======= ======= ======= =======
Hardware systems
revenues $ 1,165 $ 1,334 $ 1,299 $ 1,407 $ 5,205
======= ======= ======= ======= =======
AS REPORTED GROWTH RATES
Software and cloud
revenues 6% 5% 1% (6%) 1%
Hardware systems
revenues (8%) 1% (2%) (4%) (3%)
CONSTANT CURRENCY GROWTH
RATES (2)
Software and cloud
revenues 6% 8% 7% 2% 5%
Hardware systems
revenues (8%) 4% 5% 5% 2%
(1) The sum of the quarterly financial information may vary from year-to-
date financial information due to rounding.
(2) We compare the percent change in the results from one period to another
period using constant currency disclosure. We present constant currency
information to provide a framework for assessing how our underlying
businesses performed excluding the effect of foreign currency rate
fluctuations. To present this information, current and comparative prior
period results for entities reporting in currencies other than United
States dollars are converted into United States dollars at the exchange
rates in effect on May 31, 2014 and 2013 for the fiscal 2015 and fiscal
2014 constant currency growth rate calculations presented, respectively,
rather than the actual exchange rates in effect during the respective
periods.
APPENDIX A
ORACLE CORPORATION
Q4 FISCAL 2015 FINANCIAL RESULTS
EXPLANATION OF NON-GAAP MEASURES
To supplement our financial results presented on a GAAP basis, we use the non-GAAP measures indicated in the tables, which exclude certain business combination accounting entries and expenses related to acquisitions, as well as other significant expenses including stock-based compensation, that we believe are helpful in understanding our past financial performance and our future results. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Compensation of our executives is based in part on the performance of our business based on these non-GAAP measures. Our non-GAAP financial measures reflect adjustments based on the following items, as well as the related income tax effects:
- Cloud software as a service and platform as a service, software license updates and product support and hardware systems support deferred revenues: Business combination accounting rules require us to account for the fair values of cloud software as a service and platform as a service contracts, software license updates and product support contracts and hardware systems support contracts assumed in connection with our acquisitions. Because these contracts are generally one year in duration, our GAAP revenues generally for the one year period subsequent to our acquisition of a business do not reflect the full amount of revenues on these assumed cloud and support contracts that would have otherwise been recorded by the acquired entity. The non-GAAP adjustment to our cloud software as a service and platform as a service revenues, software license updates and product support revenues and hardware systems support revenues is intended to include, and thus reflect, the full amount of such revenues. We believe the adjustment to these revenues is useful to investors as a measure of the ongoing performance of our business. We have historically experienced high renewal rates on our software license updates and product support contracts and our objective is to increase the renewal rates on acquired and new cloud software as a service and platform as a service and hardware systems support contracts; however, we cannot be certain that our customers will renew our cloud software as a service and platform as a service contracts, software license updates and product support contracts or our hardware systems support contracts.
- Stock-based compensation expenses: We have excluded the effect of stock-based compensation expenses from our non-GAAP operating expenses and net income measures. Although stock-based compensation is a key incentive offered to our employees, and we believe such compensation contributed to the revenues earned during the periods presented and also believe it will contribute to the generation of future period revenues, we continue to evaluate our business performance excluding stock-based compensation expenses. Stock-based compensation expenses will recur in future periods.
- Amortization of intangible assets: We have excluded the effect of amortization of intangible assets from our non-GAAP operating expenses and net income measures. Amortization of intangible assets is inconsistent in amount and frequency and is significantly affected by the timing and size of our acquisitions. Investors should note that the use of intangible assets contributed to our revenues earned during the periods presented and will contribute to our future period revenues as well. Amortization of intangible assets will recur in future periods.
- Acquisition related and other expenses; and restructuring expenses: We have excluded the effect of acquisition related and other expenses and the effect of restructuring expenses from our non-GAAP operating expenses and net income measures. We incurred significant expenses in connection with our acquisitions and also incurred certain other operating expenses or income, which we generally would not have otherwise incurred in the periods presented as a part of our continuing operations. Acquisition related and other expenses consist of personnel related costs for transitional employees, other acquired employee related costs, stock-based compensation expenses (in addition to the stock-based compensation expenses described above), integration related professional services, certain business combination adjustments including adjustments after the measurement period has ended and certain other operating items, net. Substantially all of the stock-based compensation expenses included in acquisition related and other expenses resulted from unvested options assumed in acquisitions whose vesting was fully accelerated upon termination of the employees pursuant to the original terms of those options. Restructuring expenses consist of employee severance and other exit costs. We believe it is useful for investors to understand the effects of these items on our total operating expenses. Although acquisition related expenses and restructuring expenses generally diminish over time with respect to past acquisitions, we generally will incur these expenses in connection with any future acquisitions.
Contact:
Ken Bond
Oracle Investor Relations
1.650.607.0349
Email Contact
Deborah Hellinger
Oracle Corporate Communications
1.212.508.7935
Email Contact
Publicidad
Suscríbete a la newsletter »
Completa con tu email tanto para suscribirte a nuestra newsletter, como para agregar o quitar otras suscripciones.
Lo más leído »
![IBM Security Trusteer: Suite para protección avanzada contra el fraude. Introducción y demo. [Video]](https://www.seguridadmania.com/img/articles/71525/Captura.PNG)
![Ciberseguridad en Comunicaciones y Skype para empresas con Voiping [Video-entrevista de 40 mnts.]](https://www.seguridadmania.com/img/articles/71425/Volping.PNG)
![Ciberseguridad en la gran empresa según el CIO de Vocento [Webinar de 6o min]](https://www.seguridadmania.com/img/articles/71622/vocento.png)
Publicidad
-
![La Ciberseguridad en Robots industriales según Trend Micro [Videos+Informe 48 págs]](https://www.seguridadmania.com/img/articles/71596/dentro.PNG)
Industria y Fabricación Teoría Informes
La Ciberseguridad en Robots industriales según Trend Micro [Videos+Informe 48 págs]
Publicamos interesante Informe de más de 48 págs y varios videos demostrativos sobre los posibles ataques a los robots de montaje de las fábricas. ... Leer más ►
Publicado el 22-Jun-2017 • 10.48hs
-
Energía / Utilities Teoría Informes
Ciberataques a redes eléctricas. Informe de dragos.com
Publicado el 20-Jun-2017 • 20.22hs
-
Energía / Utilities Teoría Libros
Libro: Protecting Industrial Control Systems from Electronic Threats
Dirigido tanto a los principiantes, como a los expertos en seguridad informática y sistemas de control industrial (ICS), este libro ayudará a los lectores a comprender mejor la protección de normas de control interno de las amenazas electrónicas. ... Leer más ►
Publicado el 3-Ene-2012 • 20.16hs
-
Otros Teoría Libros
ebook: Data Mining for Intelligence, Fraud & Criminal Detection: Advanced Analytics & Information Sharing Technologies
Publicado el 25-Set-2009 • 01.26hs
-
Industria y Fabricación Teoría Libros
Pellerin-Minor, fabricante de lavadoras para ropa reconocido mundialmente, implanta las soluciones de MATE - Intelligent Video en su planta de Louisiana
Publicado el 17-Dic-2008 • 08.32hs
Más Secciones »
-
Biometría Ver más »
-
Firma electrónica avanzada y reconocimiento mediante voz con biometricvox.com
Publicado el 11-Oct-2016 • 12.48hs
-
Cinco razones para implementar la identificación biométrica
Publicado el 15-Mar-2016 • 11.59hs
-
-
Control de Accesos Ver más »
-
Introducción para IT a la Gestión de Identidades [Webinar de 1 hora]
Publicado el 2-Feb-2017 • 11.38hs
-
Infinias explica sus soluciones integradas de Video Análisis y Control de Accesos. Webinar de 1 hora.
Publicado el 20-Jun-2014 • 17.17hs
-
-
Sistemas de Alarmas Ver más »
-
ADT explica sus soluciones antihurto para Retail y otras propuestas en control de accesos y videovigilancia
Publicado el 31-May-2011 • 05.13hs
-
Visonic presenta su sistema de alarmas Amber especial para el cuidado de personas de la tercera edad
Publicado el 25-Set-2008 • 17.54hs
-
-
VideoVigilancia Ver más »
-
Scati instala más de 200 cámaras minidomo IP y sistema de grabación en Resort de Cancún
Publicado el 1-Set-2016 • 16.11hs
-
Tendencias 2016 en Videovigilancia y Videointeligencia. Por Axis.
Publicado el 31-Ago-2016 • 18.53hs
-
-
Seguridad Física Ver más »
-
Informe sobre el pishing 2017. Por Wombat.
Publicado el 19-Ene-2017 • 15.47hs
-
Hotel de lujo en el corazón de Manhattan implanta cámaras Scati Eye
Publicado el 4-Jul-2016 • 18.51hs
-
