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Citrix Reports 2012 Fourth Quarter And Fiscal Year Financial Results

Stocks in this article: CTXS

Citrix Systems, Inc. (NASDAQ:CTXS) today reported financial results for the fourth quarter and fiscal year ended December 31, 2012.

FINANCIAL RESULTS

For the fourth quarter of fiscal year 2012, Citrix achieved revenue of $740 million, compared to $619 million in the fourth quarter of fiscal year 2011, representing 19 percent revenue growth. For fiscal year 2012, Citrix reported annual revenues of $2.59 billion, compared to $2.21 billion for fiscal year 2011, a 17 percent increase.

GAAP Results

Net income for the fourth quarter of fiscal year 2012 was $114 million, or $0.60 per diluted share, compared to $109 million, or $0.58 per diluted share, for the fourth quarter of fiscal year 2011. Annual net income for fiscal year 2012 was $353 million, or $1.86 per diluted share, compared to $356 million, or $1.87 per diluted share for fiscal year 2011.

Non-GAAP Results

Non-GAAP net income for the fourth quarter of fiscal year 2012 was $169 million, or $0.90 per diluted share, compared to $147 million, or $0.78 per diluted share for the fourth quarter of fiscal year 2011. Non-GAAP net income excludes the effects of amortization of acquired intangible assets, stock-based compensation expenses and the tax effects related to these items.

Annual non-GAAP net income for fiscal year 2012 was $543 million, or $2.87 per diluted share, compared to $473 million, or $2.48 per diluted share, for fiscal year 2011. Non-GAAP net income excludes the effects of amortization of acquired intangible assets, stock-based compensation expenses and the tax effects related to these items. In addition, non-GAAP net income for fiscal year 2011 excludes amounts recorded in connection with the restructuring program that the company implemented in January 2009 and the related tax effect.

"I'm pleased with our results, both financial and strategic," said Mark Templeton, president and CEO at Citrix. "We focused on execution to leverage new routes to market, acquire new customers, and drive subscription, maintenance and technical services growth. We also saw success in our newer markets.

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