Citrix 2005 Annual Report Download - page 70

Page฀68
Corporate฀Officers
Mark฀B.฀Templeton฀
President฀and฀฀
Chief฀Executive฀Officer
John฀C.฀Burris฀
Senior฀Vice฀President,฀
Corporate฀Sales฀and฀Service
David฀R.฀Friedman฀
General฀Counsel฀and฀฀
Corporate฀Vice฀President,฀฀
Human฀Resources
David฀J.฀Henshall฀
Senior฀Vice฀President฀and฀฀
Chief฀Financial฀Officer
Kate฀Hutchison฀
Corporate฀Vice฀President,฀฀
Marketing
David฀Jones฀
Corporate฀Vice฀President,฀
Business฀Development฀and฀Corporate฀Affairs
Board฀of฀Directors
Thomas฀F.฀Bogan฀
Venture฀Partner,฀฀
Greylock฀Partners฀
Former฀President฀and฀฀
Chief฀Operating฀Officer,฀
Rational฀Software฀Corporation
Murray฀J.฀Demo฀
Senior฀Vice฀President฀and฀฀
Chief฀Financial฀Officer,฀
Adobe฀Systems฀Inc.
Stephen฀M.฀Dow฀
General฀Partner,฀
Sevin฀Rosen฀Funds
Gary฀E.฀Morin฀
Former฀Executive฀Vice฀President฀and฀฀
Chief฀Financial฀Officer,฀
Lexmark฀International,฀Inc.
Godfrey฀R.฀Sullivan฀
President฀and฀฀
Chief฀Executive฀Officer,฀
Hyperion฀Solutions฀Corporation
Mark฀B.฀Templeton฀
President฀and฀฀
Chief฀Executive฀Officer,฀
Citrix฀Systems,฀Inc.
John฀W.฀White฀
Former฀Vice฀President฀and฀฀
Chief฀Information฀Officer,฀
Compaq฀Computer฀Corporation
Note฀Regarding฀Forward-Looking฀Statements
This Annual Report contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in the Annual Report,
such as statements concerning 2005, the access infrastructure market, and management’s strategic plans, do not constitute guarantees of future performance. Those statements involve a number of factors that could cause
actual results to differ materially, including risks associated with the Company’s business, involving the Company’s revenue growth and recognition of revenue, products, their development and distribution, product demand
and pipeline, economic and competitive factors, the Company’s key strategic relationships, acquisition, and related integration risks as well as other risks detailed in the Company’s filings with Securities and Exchange
Commission. Citrix assumes no obligation to update any forward-looking information contained in the Annual Report with respect to the statements made within.
This Annual Report contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. Investors are cautioned that statements in this Annual Report that are not strictly historical statements, including, without limitation, statements regarding the Company’s access to the infrastructure market,
management’s strategic plans, revenue growth, revenue recognition, profits, cash flows, composition of revenues, cost of revenues, operating expenses, sales, marketing and support expenses, general and administrative
expenses, research and development expenses, products and their development and distribution, product demand and pipeline, Subscription Advantage, Presentation Server, Citrix NetScaler, Access Suite and Citrix
Access Gateway, product and price competition, Online Services division, economic, market and competitive factors, key strategic relationships, acquisitions and related integration risks, customer diversification, product
price and inventory, contingent consideration payments, deferred revenues, international operations, valuations of investments and derivative instruments, technology relationships, reinvestment or repatriation of foreign
earnings, gross margins, amortization expense and intangible assets, impairment charges, anticipated operating and capital expenditure requirements, cash inflows, contractual obligations, in-process research and devel-
opment, advertising campaigns, tax rates, SFAS 123R, leasing and subleasing activities, stock repurchases, investment transactions, liquidity, litigation matters, distribution channels, stock price, payment of dividends and
potential debt or equity financings constitute forward-looking statements and do not constitute guarantees of future performance.
Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statements, including, without limitation,
variability and seasonality in the Company’s revenue and operating results, increased competition, changes in the Company’s pricing policies or those of its competitors, the success of the Company’s product lines, the
Company’s product concentration and its ability to develop and commercialize new products and services, the continuation of key third party licenses and strategic relationships, the uncertainty in the IT spending environment,
the Company’s ability to successfully integrate the operations, technology, products and employees of acquired companies, and the possible failure to achieve or maintain anticipated revenues and profits from acquisitions,
charges in the event of the impairment of assets acquired through business combinations and licenses, the size, timing and recognition of revenue from significant orders, the Company’s ability to expand and diversify dis-
tribution channels, foreign operations and vertical and geographic markets, protection of the Company’s intellectual property rights, the Company’s ability to maintain and expand its core business in large enterprise
accounts, the Company’s ability to attract and retain small sized customers, the Company’s reliance on and the success of the Company’s independent distributors and resellers for the marketing and distribution of the
Company’s products and the success of the Company’s marketing and licensing programs, the restrictions associated with the Company’s Credit Facility and Term Loan the management of anticipated future growth and the
recruitment and retention of qualified employees, the management of operations and operating expenses, the security of customer data, the success of investments in the Company’s product groups, the ability of the
Company to fund price adjustments and product returns on inventories, the effect of increased government regulation, the effect of new accounting pronouncements on revenue and expense recognition, including the effects
of SFAS 123(R) on certain of the Company’s GAAP financial measures due to the variability of the factors used to estimate the value of stock-based compensation, the volatility of the Company’s stock price, downturns in
economic conditions generally, political and social turmoil and natural disasters, as well as other risks detailed in the Company’s filings with Securities and Exchange Commission, including the Company’s Annual Report on
Form 10-K for the fiscal year ended December 31, 2005.
The Company assumes no obligation to update any forward-looking information contained in this Annual Report with respect to the statements made within.
Footnote1฀regarding฀GAAP฀to฀non-GAAP฀reconciliation
Twelve Months Ended
December 31, 2005
GAAP Earnings Per Share—Diluted $0.93
Adjustments* $0.24
Non-GAAP Earnings Per Share—Diluted $1.17
* Adjustments to exclude the effects of amortization of core and product technology and other intangible assets primarily related to business combinations, the amortization of deferred stock-based compensation, the write-off
of in-process research and development related to business combinations and the tax provisions related to the repatriation of foreign earnings under the American Jobs Creation Act.
Citrix฀Systems,฀Inc.