Citrix 2012 Annual Report Download - page 3

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1
Annual Report 2012 Citrix Systems, Inc.
Fellow shareholders,
As we head into 2013, I couldn’t be more excited about the future. Our goal at Citrix has always been
to help people experience work and life in harmony. And that vision has never been more relevant
than it is today.
Every day, our cloud computing technologies help millions of people around the world work better,
and live better. Our business at Citrix is singularly focused on making this vision a reality. We believe
enabling mobile workstyles is not only good for people, it’s good for business.
This vision is clearly resonating with customers as they leverage the synergies we’re realizing across
our product families. Like the healthcare providers who use our enterprise mobility solutions to help
doctors and nurses spend less time in the office, and more time with patients. The financial services
companies who rely on our desktop virtualization technology to deliver unprecedented business
agility, while keeping confidential data secure at all times. Or mobile operators, and the more than
2 billion subscribers they serve, who depend on our cloud networking solutions to optimize network
efficiency and maximize the user experience of the mobile video and web services they provide.
Our growing market relevance is clearly reflected in our business performance.
2012 was a record year across financial, operational and strategic dimensions. Overall revenue was
up 17% to $2.59 billion, while non-GAAP earnings per share increased 16% to $2.87. Revenue from
our SaaS business, license updates and maintenance, and professional services grew 19%, 20%,
and 30% respectively – all helping to increase deferred revenue by 25% to a record $1.2 billion. Later,
in the annual report section, you can find a full reconciliation between our non-GAAP and GAAP
performance. We’ve never been stronger – financially or strategically. I’m proud of our performance
in 2012, and grateful for an amazing team of more than 8,000 employees who delivered impressive
results, despite a volatile global environment.
Our growth demonstrates the continued momentum we’re seeing in the “new era” markets we serve
– fueled by the rise of mobile computing, the emergence of the enterprise cloud, and the build-out
of hosted cloud services. In aggregate, our markets are growing three times faster than overall IT
spending, with a total addressable opportunity estimated to top $19 billion by 2015.
No one is better positioned to take advantage of these trends than Citrix. We’re driving at the intersection
of mobile workstyles and cloud services where the rules governing IT are changing in our favor.
Mark Templeton
President and CEO