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Citrix Reports Third Quarter Financial Results

Citrix® is a trademarks or registered trademarks of Citrix Systems, Inc. and/or one or more of its subsidiaries, and may be registered in the U.S. Patent and Trademark Office and in other countries. All other trademarks and registered trademarks are property of their respective owners.

   

CITRIX SYSTEMS, INC.

Condensed Consolidated Statements of Income

(In thousands, except per share data - unaudited)
 
Three Months Ended

September 30,
Nine Months Ended

September 30,
2012   2011   2012   2011
Revenues:    
Product and licenses $195,690 $193,880 $561,971 $515,466
Software as a service 129,659 109,558 375,902 315,809
License updates and maintenance (a) 285,051 238,710 822,113 691,771
Professional services (a) 31,022   23,200     86,141   63,980
Total net revenues 641,422 565,348 1,846,127 1,587,026
 
Cost of net revenues:
Cost of product and licenses revenues 24,218 22,345 63,876 54,834
Cost of services and maintenance revenues (b) 58,920 42,665 166,328 116,745
Amortization of product related intangible assets 22,930   14,679     56,565   39,920
Total cost of net revenues 106,068 79,689 286,769 211,499
Gross margin 535,354 485,659 1,559,358 1,375,527
 
Operating expenses:
Research and development (b) 114,713 96,676 328,363 278,598
Sales, marketing and services (b) 263,136 223,967 773,732 640,907
General and administrative (b) 65,252 55,907 186,407 162,970
Amortization of other intangible assets 9,838 4,430 25,499 11,876
Restructuring -   -     -   24
Total operating expenses 452,939   380,980     1,314,001   1,094,375
 
Income from operations 82,415 104,679 245,357 281,152
 
Other income (loss), net 8,483   (1,861 )   15,636   10,799
Income before income taxes 90,898 102,818 260,993 291,951
 
Income tax expense 12,653   10,642     22,475   45,020
Net income 78,245 92,176 238,518 246,931
Net loss attributable to non-controlling interest -   -     -   692
Net income attributable to Citrix Systems, Inc. $78,245   $92,176     $238,518   $247,623
 
Earnings per common share – diluted $0.41   $0.49     $1.26   $1.30
Weighted average shares outstanding – diluted 189,671   189,730     189,282   191,155
 

Certain fiscal 2012 reclassifications have been reflected retroactively to provide comparability.

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