Citrix 2006 Annual Report Download - page 109
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Citrix Systems, Inc. Annual Report
Three Months September 30, 2006 Three Months Ended September 30, 2005
As
Reported Adjustments
As
Restated
As
Reported Adjustments
As
Restated
Product licenses $ 113,379 $ — $ 113,379 $ 97,262 $ — $ 97,262
License updates 102,854 — 102,854 84,511 — 84,511
Online services 39,055 — 39,055 26,163 — 26,163
Technical services 22,563 — 22,563 19,011 — 19,011
Total net revenues 277,851 — 277,851 226,947 — 226,947
Cost of product license revenues 8,201 — 8,201 4,828 — 4,828
Cost of services revenues 11,320 166 11,486 6,611 29 6,640
Amortization of product related
intangibles 4,657 — 4,657 4,477 — 4,477
Total cost of revenues 24,178 166 24,344 15,916 29 15,945
Gross margin 253,673 (166) 253,507 211,031 (29) 211,002
Research and development 39,432 672 40,104 27,540 208 27,748
Sales, marketing and support 118,027 877 118,904 96,632 496 97,128
General and administrative 42,957 1,115 44,072 31,919 282 32,201
Amortization of other intangible
assets 4,360 — 4,360 3,147 — 3,147
In-process research and
development 1,000 — 1,000 7,000 — 7,000
Total operating expenses 205,776 2,664 208,440 166,238 986 167,224
Income from operations 47,897 (2,830) 45,067 44,793 (1,015) 43,778
Interest income 12,525 — 12,525 6,742 — 6,742
Interest expense (75) (62) (137) (1,060) (49) (1,109)
Other expense, net (373) — (373) (112) (19) (131)
Income before income taxes 59,974 (2,892) 57,082 50,363 (1,083) 49,280
Income taxes 13,356 66 13,422 9,410 (283) 9,127
Net income $ 46,618 $ (2,958) $ 43,660 $ 40,953 $ (800) $ 40,153
Basic $ 0.25 $ (0.01) $ 0.24 $ 0.24 $ (0.01) $ 0.23
Diluted $ 0.25 $ (0.02) $ 0.23 $ 0.23 $ — $ 0.23
Basic 183,008 — 183,008 172,870 — 172,870
Diluted 188,882 35 188,917 178,210 (231) 177,979