This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Citrix Reports 2012 Fourth Quarter And Fiscal Year Financial Results

Stocks in this article: CTXS

These non-GAAP financial measures are not prepared in accordance with accounting principles generally accepted in the United States ("GAAP") and may differ from the non-GAAP information used by other companies. There are significant limitations associated with the use of non-GAAP financial measures. The additional non-GAAP financial information presented here should be considered in conjunction with, and not as a substitute for or superior to, the financial information presented in accordance with GAAP (such as net income and earnings per share) and should not be considered measures of the Company's liquidity. Furthermore, the Company in the future may exclude amortization primarily related to newly acquired intangible assets , additional charges related to its restructuring program and the related tax effects from financial measures that it releases, and the Company expects to continue to incur stock-based compensation expenses.

CITRIX SYSTEMS, INC.

Non-GAAP Financial Measures Reconciliation

(In thousands, except per share and operating margin data - unaudited)

The following tables show the non-GAAP financial measures used in this press release reconciled to the most directly comparable GAAP financial measures.

 

Three Months Ended

December 31,

2012
GAAP operating margin 19.7%
Add: stock-based compensation 5.5%
Add: amortization of product related intangible assets 3.2%
Add: amortization of other intangible assets 1.2%
Non-GAAP operating margin 29.6%

 

Three Months Ended December 31,
2012   2011
GAAP net income $114,029   $108,699
Add: stock-based compensation 41,018 29,318
Add: amortization of product related intangible assets 23,460 14,821
Add: amortization of other intangible assets 9,050 4,514
Less: tax effects related to above items (18,211)   (10,138)
Non-GAAP net income $169,346   $147,214
 

 

Three Months Ended December 31,

2012   2011
GAAP earnings per share – diluted $0.60 $0.58
Add: stock-based compensation 0.22 0.16
Add: amortization of product related intangible assets 0.13 0.08
Add: amortization of other intangible assets 0.05 0.02
Less: tax effects related to above items (0.10)   (0.06)
Non-GAAP earnings per share – diluted $0.90   $0.78

 

  Twelve Months Ended December 31,
2012
GAAP operating margin 15.1%
Add: stock-based compensation 5.8%
Add: amortization of product related intangible assets 3.1%
Add: amortization of other intangible assets 1.3%
Non-GAAP operating margin 25.3%

 

Twelve Months Ended December 31,
2012   2011
GAAP net income $352,547   $356,322
Add: stock-based compensation 149,940 92,909
Add: amortization of product related intangible assets 80,025 54,741
Add: amortization of other intangible assets 34,549 16,390
Add: restructuring charges - 24
Less: tax effects related to above items (73,817)   (47,599)
Non-GAAP net income $543,244   $472,787
 

 

Twelve Months Ended December 31,

2012   2011
GAAP earnings per share – diluted $1.86 $1.87
Add: stock-based compensation 0.79 0.49
Add: amortization of product related intangible assets 0.43 0.29
Add: amortization of other intangible assets 0.18 0.08
Add: restructuring charges - -
Less: tax effects related to above items (0.39)   (0.25)
Non-GAAP earnings per share – diluted $2.87   $2.48

 

  For the Three Months Ended

March 31,

  For the Twelve Months Ended

December 31,

2013   2013
GAAP earnings per share - diluted $0.31 to $0.33 $1.91 to $1.95
Add: adjustments to exclude the effects of
amortization of intangible assets 0.19 0.73
Add: adjustments to exclude the effects of
expenses related to stock-based

 

 

compensation

0.23

0.97

Less: tax effects related to above items

(0.10) to (0.13)

 

(0.46) to (0.53)

Non-GAAP earnings per share - diluted $0.62 to $0.63   $3.12 to $3.15
  For the Twelve Months Ended

December 31,

2013
GAAP tax rate 14.0% - 16.0%

Add: tax effects of stock-based compensation

and amortization of intangible assets

6.0

Non-GAAP tax rate 20.0% - 22.0%




9 of 10

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,828.24 +0.49 0.00%
S&P 500 2,067.56 -5.27 -0.25%
NASDAQ 4,791.63 +4.3130 0.09%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs