Citrix 2009 Annual Report Download - page 85
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CITRIX SYSTEMS, INC.
CONSOLIDATED STATEMENTS OF INCOME
Year Ended December 31,
2009 2008 2007
(In thousands, except per share information)
Revenues:
Product licenses ......................................... $ 538,975 $ 620,215 $ 577,144
License updates ......................................... 604,968 559,340 484,669
Online services ......................................... 308,177 260,065 213,744
Technical services ....................................... 161,968 143,734 116,385
Total net revenues ................................... 1,614,088 1,583,354 1,391,942
Cost of net revenues:
Cost of product license revenues ............................ 52,160 47,801 42,984
Cost of services revenues ................................. 87,233 79,303 65,027
Amortization of product related intangible assets ............... 47,917 48,028 29,596
Total cost of net revenues ............................. 187,310 175,132 137,607
Gross margin ............................................... 1,426,778 1,408,222 1,254,335
Operating expenses:
Research and development ................................ 281,980 288,109 205,103
Sales, marketing and services .............................. 679,053 669,569 590,409
General and administrative ................................ 239,623 256,679 229,229
Restructuring ........................................... 26,473 — —
Amortization of other intangible assets ....................... 20,972 22,724 17,387
In-process research and development ........................ — 1,140 9,800
Total operating expenses .............................. 1,248,101 1,238,221 1,051,928
Income from operations ...................................... 178,677 170,001 202,407
Interest income ............................................. 14,683 31,506 49,704
Interest expense ............................................. (426) (444) (737)
Other income (expense), net ................................... 958 (4,140) (466)
Income before income taxes ................................... 193,892 196,923 250,908
Income taxes ............................................... 2,875 18,647 36,425
Net income ................................................ $ 191,017 $ 178,276 $ 214,483
Earnings per share:
Basic ................................................. $ 1.05 $ 0.97 $ 1.18
Diluted ................................................ $ 1.03 $ 0.96 $ 1.14
Weighted average shares outstanding:
Basic ................................................. 181,805 183,023 181,501
Diluted ................................................ 184,985 186,682 187,380
See accompanying notes.
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