Citrix 2009 Annual Report Download - page 42

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repurchases of our common stock. For more information see Note 8 to our consolidated financial statements
included in this Annual Report on Form 10-K for the year ended December 31, 2009.
(2) Includes 44,056 shares repurchased in the fourth quarter of 2009 to satisfy tax withholding obligations that
arose on the vesting of shares of unvested stock units.
ITEM 6. SELECTED FINANCIAL DATA
The following selected consolidated financial data is derived from our consolidated financial statements.
This data should be read in conjunction with the consolidated financial statements and notes thereto, and with
Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations.
Year Ended December 31,
2009 2008 2007 2006 2005
(In thousands, except per share data)
Consolidated Statements of Income Data:
Net revenues ......................... $1,614,088 $1,583,354 $1,391,942 $1,134,319 $ 908,722
Cost of net revenues(a) .............. 187,310 175,132 137,607 98,698 58,099
Gross margin ......................... 1,426,778 1,408,222 1,254,335 1,035,621 850,623
Operating expenses:
Research and development .......... 281,980 288,109 205,103 155,331 108,751
Sales, marketing and services ........ 679,053 669,569 590,409 480,343 394,153
General and administrative .......... 239,623 256,679 229,229 178,669 125,425
Restructuring ..................... 26,473 ————
Amortization of other intangible
assets ......................... 20,972 22,724 17,387 16,934 11,622
In-process research and
development ................... — 1,140 9,800 1,000 7,000
Total operating expenses ........ 1,248,101 1,238,221 1,051,928 832,277 646,951
Income from operations ................ 178,677 170,001 202,407 203,344 203,672
Interest income ....................... 14,683 31,506 49,704 41,210 23,614
Interest expense ....................... (426) (444) (737) (927) (2,426)
Other expense, net ..................... 958 (4,140) (466) (546) (506)
Income before income taxes ............. 193,892 196,923 250,908 243,081 224,354
Income taxes ......................... 2,875 18,647 36,425 60,084 58,745
Net income .......................... $ 191,017 $ 178,276 $ 214,483 $ 182,997 $ 165,609
Diluted earnings per share(b) ............. $ 1.03 $ 0.96 $ 1.14 $ 0.97 $ 0.93
December 31,
2009 2008 2007 2006 2005
(In thousands)
Consolidated Balance Sheet Data:
Total assets .......................... $3,091,147 $2,694,306 $2,534,693 $2,024,473 $1,698,982
Stockholders’ equity ................... 2,188,507 1,917,865 1,838,325 1,464,289 1,214,528
Long-term debt ....................... ————31,000
(a) Cost of net revenues includes amortization of product related intangible assets of $47.9 million, $48.0
million, $29.6 million, $19.2 million, and $16.8 million in 2009, 2008, 2007, 2006 and 2005, respectively.
(b) Our diluted weighted–average shares outstanding primarily fluctuates based on the level of shares issued
under our stock-based compensation programs, stock repurchases made under our stock repurchase program
and shares issued in connection with our acquisitions. See Notes 3, 7 and 8 to our consolidated financial
statements included in this Annual Report on Form 10-K for the year ended December 31, 2009.
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