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Citrix Systems, Inc. 2006 Annual Report 1
Exceeding $1 billion is a signi cant milestone
achieved by less than two dozen software
companies in history. This achieve ment
underscores our ability to take a long-term
approach, to achieve meaningful objectives,
and to invest in technologies that make our
customers successful. It’s also a level that even
fewer have been able to sustain.
Financially, our goal is to deliver reliable
revenue growth with increasing operating
profit and cash flow. Over the past four
years, we’ve averaged over 21% growth in
revenue and over 22% in GAAP EPS growth.
Operating cash ow is up from $265 million in
2004 to $329 million in 2006.  ese nancial
results give us the strength to invest for growth.
ere’s also strength in the growing diversity
of our revenue streams—product licensing,
license updates, technical services and online
services. In 2006, product licensing was up
19%—the largest increase we’ve experienced
this decade. License updates grew 23%, driven
largely by the success of our Subscription
Advantage program. Revenue from technical
services was up over 30% compared to 2005.
And, our Online Division’s “software-as-a-
service” business grew an impressive 50% to
almost $150 million.
In 2006, we on-boarded over 550 new
employees and completed two strategic
acquisitions— Re ectent So ware and Orbital
Data.  ese new teams bring us talent, experience
and deep expertise in fast-growing application
delivery market segments.
Mark Templeton
President and CEO
Dear Fellow Stockholder:
In each of my letters over the past four years, I’ve discussed the strategic
transformation of Citrix with you. When I wrote the 2002 letter, we were
coming off our most diffi cult year since going public in 1995.
At that time, we set bold objectives to double our revenue to $1 billion
by 2006, and to lead the software market for delivering applications on demand.
To succeed, we needed new competencies in strategic planning, product
innovation, acquisition integration and business scalability. We’ve made
great progress on each of these dimensions.
I’m proud to report 2006 revenue of $1.134 billion. Credit goes to the Citrix
employees, business partners and families who are responsible for these
excellent results. Thank you for your trust and confi dence.