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March 2, 2009

Salesforce.com reports solid Q4 and year

Subscription and support revenue grew 35%

By CBR Staff Writer

Salesforce.com has reported an 86% increase in net income to $13.75m for the fourth quarter 2009, compared to $7.37m in the year-ago quarter, on revenue up 34% at $289.58m.

Operating profit grew 50% to $16.09m, while diluted EPS grew 83% to $0.11. Cash flow from operations was $76m.

The company said subscription and support revenue grew 35% to $266.11m, while professional services and other revenue grew 15% to $23.47m.

For fiscal 2009, the company reported net income of $43.42m compared to $18.35m a year ago, on revenue up 44% at $1.07 billion. Operating income increased to $63.74m from $20.3m a year ago, while diluted EPS grew 130% to $0.35.

Marc Benioff, chairman and chief executive of Salesforce.com, said: Salesforce.com is proud to be the first billion=dollar cloud computing company. At a time when capital is precious, big-ticket software purchases just do not make sense.

For the first quarter 2010, the company expects revenue between $304m and $305m, and diluted EPS between $0.10 and $0.11. For fiscal 2010, it expects diluted EPS between $0.54 and $0.55, and reduced its revenue outlook to a range of $1.3 billion to $1.33 billion from an earlier forecast of $1.35 billion to $1.36 billion.

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