Citrix 2000 Annual Report Download - page 60

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58
CITRIX SYSTEMS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS −− (CONTINUED)
and distribution of the Company's products. Prior to this change, sales in these
geographic segments were classified as export sales from the Americas segment
(see below). For purposes of the presentation of segment information, the sales
previously reported as Americas export sales have been reclassified to the
geographical segments where the sale was made for each of the periods presented.
Net revenues and segment profit, classified by the major geographic area in
which the Company operates, are as follows:
2000 1999 1998
−−−−−−−− −−−−−−−− −−−−−−−−
(IN THOUSANDS)
Net revenues:
Americas......................................... $248,398 $213,575 $141,876
EMEA............................................. 158,645 129,649 64,222
Asia Pacific..................................... 23,505 20,231 10,803
Other(1)......................................... 39,898 39,830 31,735
−−−−−−−− −−−−−−−− −−−−−−−−
Consolidated..................................... $470,446 $403,285 $248,636
======== ======== ========
Segment profit:
Americas......................................... $206,984 $174,829 $104,968
EMEA............................................. 123,056 103,811 46,632
Asia Pacific..................................... 10,238 10,834 6,551
Other(1)......................................... 39,898 39,830 31,735
Unallocated expenses(2):
Cost of revenues.............................. (29,054) (14,579) (16,682)
Overhead costs................................ (84,129) (51,721) (28,298)
Research and development...................... (50,622) (37,363) (22,858)
In−process research and development........... −− (2,300) (18,416)
Write−down of technology...................... (9,081) −− −−
Net interest.................................. 22,792 11,221 9,968
Other corporate expenses...................... (95,065) (51,837) (18,128)
−−−−−−−− −−−−−−−− −−−−−−−−
Consolidated income before income taxes....... $135,017 $182,725 $ 95,472
======== ======== ========
−−−−−−−−−−−−−−−
(1) Represents royalty fees in connection with the Development Agreement.
(2) Represents expenses presented to management only on a consolidated basis and
not allocated to the geographic operating segments.
The Americas' identifiable assets accounted for greater than 90% of the
total identifiable assets for all segments as of December 31, 2000, 1999 and
1998.
Export revenue represents shipments of finished goods and services from the
United States to international customers. As of July 1, 1999 and July 1, 2000,
the Company began shipping finished goods to
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