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Citrix Reports 2012 Fourth Quarter And Fiscal Year Financial Results

"Our customers are increasingly interested in mobility. CIOs are looking to mobility to help deal with IT consumerization, a multi-generational workforce, collaboration, consolidation and disruption.

"Mobility and cloud services represent an accelerating transformation in the workplace, and as we look into 2013, we are uniquely positioned to help our customers change the way they work, the devices and apps they use, and the way services are delivered."

Q4 Financial Summary

In reviewing the results for the fourth quarter of fiscal year 2012, compared to the fourth quarter of fiscal year 2011:

  • Product and license revenue increased 17 percent;
  • Software as a service revenue increased 18 percent;
  • Revenue from license updates and maintenance increased 22 percent;
  • Professional services revenue, which is comprised of consulting, product training and certification, increased 20 percent;
  • Revenue increased in the Pacific region by 52 percent; increased in the EMEA region by 19 percent; and increased in the America’s region by 14 percent;
  • Deferred revenue totaled $1.2 billion, compared to $960 million as of December 31, 2011, an increase of 25%;
  • GAAP operating margin was 20 percent and non-GAAP operating margin was 30 percent, excluding the effects of amortization of acquired intangible assets and stock-based compensation expenses;
  • Cash flow from operations was $227 million for the fourth quarter of fiscal year 2012, compared with $170 million for the fourth quarter of fiscal year 2011; and
  • The company repurchased 1.2 million shares at an average price of $63.93.

Annual Financial Summary

In reviewing the results for fiscal year 2012 compared to fiscal year 2011:

  • Product and license revenue increased 12 percent;
  • Software as a service revenue increased 19 percent;
  • Revenue from license updates and maintenance increased 20 percent;
  • Professional services revenue, which is comprised of consulting, product training and certification, increased 30 percent;
  • Revenue increased in the Pacific region by 33 percent, increased in the EMEA region by 20 percent, and increased in the Americas’ region by 12 percent;
  • GAAP operating margin was 15 percent and non-GAAP operating margin was 25 percent, excluding the effects of amortization of acquired intangible assets and stock-based compensation expense.
  • Cash flow from operations was $819 million for fiscal year 2012 compared with $679 million for fiscal year 2011; and
  • The company repurchased 3.8 million shares at an average price of $70.98.

Zenprise Acquisition

On January 2, 2013, Citrix completed its previously announced acquisition of privately held Zenprise, a leading innovator in mobile device management, or MDM, for cash consideration of approximately $327 million. Citrix intends to integrate the Zenprise offering for MDM with its Citrix CloudGateway™ and Me@Work™ solutions for managing mobile apps and data. As a result, enterprise IT customers will have a comprehensive set of tools that make it easier to manage and secure devices, apps and data, while users will be able to access apps from virtually any device, giving them the freedom to work and play anywhere.

The Zenprise acquisition will give Citrix the first solution in the industry for managing mobile devices, apps and data from a single, integrated enterprise mobility product line. This comprehensive approach can transform organizations into mobile enterprises with the security and control IT requires, the ease of use and flexibility users desire, and the productivity business demands.

Stock quotes in this article: CTXS 

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