Citrix 2014 Annual Report Download - page 4

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Annual Report 2014 Citrix Systems, Inc.
TOTAL 2014 REVENUE
IN BILLIONS
$3.14
A YOY REVENUE
INCREASE OF
8%
Our balance sheet is robust, including $1.56 billion in deferred revenue and $570
million in net cash & investments. Our cash ow from operating activities remained
strong at $846 million.
While we produced record results in 2014, we began taking direct actions to improve
long-term operating efciencies and return capital to shareholders. Operationally, this
included initiatives to streamline the organization, simplify focus on our core growth
markets and re-allocate resources towards emerging high-growth businesses as well
as future initiatives like the Citrix Workspace Cloud.
We also launched new programs to better optimize our capital structure and
programmatically return capital to shareholders. In Q2, we successfully completed
the issuance of $1.4 billion in convertible securities while simultaneously initiating
a $1.5 billion Accelerated Share Repurchase program. For the full year, we repurchased
26.1 million shares of our stock, representing about 14% of shares outstanding.
The Software Dened Era
While I’m proud of how we addressed market, transitional and competitive challenges
in 2014, we are not satised. From here, we are looking ahead to 2015 with a focus
on innovation that allows our customers – from small to middle-market to global
enterprises – to more rapidly embrace mobility and leverage the full power of cloud
infrastructure to drive their business.
A software-dened workplace is one where people can securely and effortlessly
collaborate across the boundaries of time, place and devices. They create better
business outcomes. They’re more productive and engaged. And their businesses
are more agile and responsive to change – all enabled by Citrix workspace
delivery software.
For Citrix, this is not a change in direction, but rather a stronger focus on the core
assets, value propositions, and customer relationships that differentiate us – and
produce competitive advantages in the marketplace:
• Near-instant provisioning and secure delivery of business-ready workspaces as a
cloud service. A seamless, secure blend of the Windows, iOS, and Android digital
tools people need, delivered from the customer’s choice of private, public or hybrid
clouds – accessible from any device or browser.
• End-to-end information security innovations that eliminate the need for device
management by leveraging our ability to encrypt, containerize and control any type
of application or data.
• Introduction of smart workplace technologies to get the complexity of computing
out of the way with technologies that enable predictive automation of everyday
workplace scenarios.
“A software-dened workplace is one where people can securely
and effortlessly collaborate across the boundaries of time, place
and devices. They create better business outcomes. They’re more
productive and engaged.”
DEFERRED REVENUE
IN BILLIONS
$1.56
NET CASH AND
INVESTMENTS IN MILLIONS
$570