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F-4
CITRIX SYSTEMS, INC.
CONSOLIDATED STATEMENTS OF INCOME
Year Ended December 31,
2013 2012 2011
(In thousands, except per share information)
Revenues:
Product and licenses $ 891,630 $ 830,645 $ 744,513
Software as a service 582,872 511,323 430,213
License updates and maintenance 1,305,053 1,125,094 940,181
Professional services 138,879 119,061 91,485
Total net revenues 2,918,434 2,586,123 2,206,392
Cost of net revenues:
Cost of product and license revenues 114,932 96,962 74,393
Cost of services and maintenance revenues 289,990 227,150 164,465
Amortization of product related intangible assets 97,873 80,025 54,741
Total cost of net revenues 502,795 404,137 293,599
Gross margin 2,415,639 2,181,986 1,912,793
Operating expenses:
Research and development 516,338 450,571 380,674
Sales, marketing and services 1,216,680 1,060,829 885,066
General and administrative 260,236 245,259 213,673
Amortization of other intangible assets 41,668 34,549 16,390
Restructuring —— 24
Total operating expenses 2,034,922 1,791,208 1,495,827
Income from operations 380,717 390,778 416,966
Interest income 8,194 10,152 13,819
Other (expense) income, net (1,021)9,299 (288)
Income before income taxes 387,890 410,229 430,497
Income taxes 48,367 57,682 74,867
Consolidated net income 339,523 352,547 355,630
Less: Net loss attributable to non-controlling interest —— 692
Net income attributable to Citrix Systems, Inc. $ 339,523 $ 352,547 $ 356,322
Net income per share attributable to Citrix Systems, Inc.
stockholders:
Net income per share attributable to Citrix Systems, Inc.
stockholders - basic $ 1.82 $ 1.89 $ 1.90
Net income per share attributable to Citrix Systems, Inc.
stockholders - diluted $ 1.80 $ 1.86 $ 1.87
Weighted average shares outstanding:
Basic 186,672 186,722 187,315
Diluted 188,245 189,129 190,641
See accompanying notes.