Citrix 2006 Annual Report Download - page 12

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
The following selected consolidated financial data should
be read in conjunction with the consolidated financial
statements and notes thereto and “Management’s
Discussion and Analysis of Financial Condition and Results
of Operations” appearing elsewhere in this Annual Report.
We have not amended our previously filed Annual Reports
on Form 10-K and Form 10-K/A or our previously filed
Quarterly Reports on Form 10-Q for the periods affected
by the restatement, which are described in “Management’s
Discussion and Analysis of Financial Condition and
Results of Operations” appearing elsewhere in this
Annual Report and Note 2 to our consolidated financial
statements included in this Annual Report. The financial
statements and related financial information contained in
such previously filed reports should not be relied upon.
The financial information that has been previously filed or
otherwise reported for the restated periods is superseded
by the information contained in this Annual Report and
on our Annual Report on Form 10-K for the year ended
December 31, 2006.
The following table sets forth the effect of the restatement for each of the applicable fiscal years:
Year Ended December 31,
(In thousands, except per share data) 2006 2005(a) 2004(a) 2003 2002
(Restated) (Restated) (Restated) (Restated)
Consolidated Statements of Income Data(a):
Net revenues $ 1,134,319 $ 908,722 $ 741,157 $ 588,625 $ 527,448
Cost of revenues(b) 98,698 58,099 26,656 31,639 30,710
Gross margin 1,035,621 850,623 714,501 556,986 496,738
Operating expenses:
Research and development 155,331 108,751 86,654 66,366 73,464
Sales, marketing and support 480,343 394,153 337,777 258,522 245,914
General and administrative 178,669 125,425 105,799 87,196 92,351
Amortization of other intangible assets 16,934 11,622 6,204 300 485
In-process research and development 1,000 7,000 19,100 — —
Total operating expenses 832,277 646,951 555,534 412,384 412,214
Income from operations 203,344 203,672 158,967 144,602 84,524
Interest income 41,210 23,614 14,274 21,120 30,943
Interest expense (927) (2,426) (11,756) (18,436) (18,268)
Other income (expense), net (546) (506) 2,851 3,458 (3,483)
Income before income taxes 243,081 224,354 164,336 150,744 93,716
Income taxes 60,084 58,745 33,049 30,702 13,401
Net income $ 182,997 $ 165,609 $ 131,287 $ 120,042 $ 80,315
Diluted earnings per share(c) $ 0.97 $ 0.93 $ 0.75 $ 0.70 $ 0.45