Citrix 2005 Annual Report Download - page 41

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Page฀39
Consolidated฀Statements฀of฀Income
Year฀Ended฀December฀31,
(In฀thousands,฀except฀per฀share฀information) 2005 2004 2003
Revenues:
฀ Product฀licenses $฀409,435 $฀369,826 $฀374,403
฀ License฀updates 331,102 271,547 168,793
฀ Online฀services 99,097 44,101 —
฀ Technical฀services 69,088 55,683 45,429
฀ ฀ Total฀net฀revenues 908,722 741,157 588,625
Cost฀of฀revenues:
฀ Cost฀of฀product฀license฀revenues 14,404 3,824 13,555
฀ Cost฀of฀services฀revenues 26,794 16,472 6,481
฀ Amortization฀of฀core฀and฀product฀technology 16,766 6,127 11,036
฀ ฀ Total฀cost฀of฀revenues 57,964 26,423 31,072
Gross฀margin 850,758 714,734 557,553
Operating฀expenses:
฀ Research฀and฀development 108,687 86,357 64,443
฀ Sales,฀marketing฀and฀support 393,420 337,566 252,749
฀ General฀and฀administrative 125,538 106,516 85,672
฀ Amortization฀of฀other฀intangible฀assets 11,622 6,204 300
฀ In-process฀research฀and฀development 7,000 19,100 —
฀ ฀ Total฀operating฀expenses 646,267 555,743 403,164
Income฀from฀operations 204,491 158,991 154,389
Interest฀income 23,614 14,274 21,120
Interest฀expense (2,229) (4,367) (18,280)
Write-off฀of฀deferred฀debt฀issuance฀costs —(7,219) —
Other฀(expense)฀income,฀net (368) 2,754 3,458
Income฀before฀income฀taxes 225,508 164,433 160,687
Income฀taxes 59,168 32,887 33,744
Net฀income $฀166,340 $฀131,546 $฀126,943
Earnings฀per฀share:
฀ Basic $฀ 0.97 $฀ 0.78 $฀ 0.77
฀ Diluted $฀ 0.93 $฀ 0.75 $฀ 0.74
Weighted-average฀shares฀outstanding:
฀ Basic 172,221 168,868 165,323
฀ Diluted 178,036 174,734 171,447
See฀accompanying฀notes.