Fiscal 2019 Business Outlook – ASC 606
For the second
quarter and fiscal year ending September 30, 2019, the company expects:
| In millions except per share amounts | ||||||||
| Operating Measures (1) |
Q2’19
|
Q2’19
|
FY’19
|
FY’19
|
||||
| Subscription ACV | $ 50 | $ 55 | $ 216 | $ 224 | ||||
| License and Subscription Bookings | $ 107 | $ 120 | $ 500 | $ 520 | ||||
| Subscription % of Bookings | 93% | 93% | 86% | 86% | ||||
| (1) An explanation of the metrics included in this table is provided below. | ||||||||
| Financial Measures |
Q2’19
|
Q2’19
|
FY’19
|
FY’19
|
||||
| Total Subscription Revenue | $ 130 | $ 141 | $ 581 | $ 622 | ||||
| Perpetual Support Revenue | 105 | 106 | 432 | 433 | ||||
| Total Recurring Revenue | $235 | $247 | $1,013 | $1,055 | ||||
| Perpetual License Revenue | 9 | 10 | 62 | 70 | ||||
| Total Software Revenue | 244 | 257 | 1,075 | 1,125 | ||||
| Professional Services Revenue | 39 | 41 | 170 | 170 | ||||
| Total Revenue | $ 283 | $ 298 | $ 1,245 | $ 1,295 | ||||
| Operating Expense (GAAP) | $ 237 | $ 238 | $ 899 | $ 903 | ||||
| Operating Expense (Non-GAAP) | 178 | 179 | 724 | 728 | ||||
| Operating Margin (GAAP) | (12%) | (6%) | 2% | 5% | ||||
| Operating Margin (Non-GAAP) | 12% | 17% | 19% | 22% | ||||
| Tax Rate (GAAP) | 30% | 30% | 30% | 30% | ||||
| Tax Rate (Non-GAAP) | 19% | 18% | 19% | 17% | ||||
| Shares Outstanding | 120 | 120 | 119 | 119 | ||||
| EPS (GAAP) | $ (0.27) | $(0.17) | $ (0.10) | $ 0.18 | ||||
| EPS (Non-GAAP) | $ 0.15 | $ 0.27 | $ 1.35 | $ 1.70 | ||||
| Free Cash Flow | $ 265 | $ 275 | ||||||
| Adjusted Free Cash Flow | $ 290 | $ 300 | ||||||
