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TheStreet Open House

Citrix Reports 2012 Fourth Quarter And Fiscal Year Financial Results

Stocks in this article: CTXS

(a) During the first quarter of fiscal year 2012, Citrix reviewed the presentation of its Condensed Consolidated Statements of Income and adopted a revised presentation, which the company believes is more comparable to those presented by other companies in the industry. As a result, technical support, hardware maintenance and software updates revenues, which were previously presented in Technical Services and License Updates are classified together as License Updates and Maintenance. A corresponding change was made to rename Cost of Services Revenues to Cost of Services and Maintenance Revenues; however, there was no change in classification. Product training, certification and consulting services, which were previously presented in Technical Services, are classified together as Professional Services. Product Licenses has been renamed to Product and Licenses to more appropriately describe its composition of both software and hardware; however, there was no change in classification. The classification of Software as a Service remains unchanged. This change in manner of presentation does not affect the Company's total net revenues, total cost of net revenues or gross margin.

Conforming changes related to (a) have been made for the prior period presented, as follows:

   

Three Months Ended

December 31, 2011

 
As Previously Reported   Amount Reclassified As Reported Herein
Revenues: Revenues:
License updates $ 192,914 $ 55,496 License updates and maintenance (2) $ 248,410
Technical services (1)   83,001     (55,496 ) Professional services (3)   27,505
Total $ 275,915   $ -   Total $ 275,915
   

Year Ended

December 31,

2011

   
As Previously Reported  

Amount

Reclassified

  As Reported Herein
Revenues: Revenues:
License updates $ 741,834 $ 198,347 License updates and maintenance (2) $ 940,181
Technical services (1)   289,832     (198,347 ) Professional services (3)   91,485
Total $ 1,031,666   $ -   Total $ 1,031,666

(1) Technical services revenue was comprised of hardware maintenance, consulting services, product training and certification and technical support.

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