Citrix 2006 Annual Report Download - page 36
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The following table sets forth our consolidated statements of income data and presentation of that data as a percentage of
change from period-to-period.
Year Ended December 31, 2006
Compared to
2005
2005
Compared to
2004(In thousands) 2006 2005(a) 2004(a)
(Restated) (Restated)
Revenues:
Product licenses $ 488,487 $ 409,435 $ 369,826 19.3% 10.7%
License updates 405,756 331,102 271,547 22.5 21.9
Online services 148,795 99,097 44,101 50.2 124.7
Technical services 91,281 69,088 55,683 32.1 24.1
Total net revenues 1,134,319 908,722 741,157 24.8 22.6
Cost of revenues:
Cost of product license revenues 32,911 14,404 3,824 128.5 276.7
Cost of services revenues 46,585 26,929 16,705 73.0 61.2
Amortization of product related
intangible assets 19,202 16,766 6,127 14.5 173.6
Total cost of revenues 98,698 58,099 26,656 69.9 118.0
Gross margin 1,035,621 850,623 714,501 21.7 19.1
Operating expenses:
Research and development 155,331 108,751 86,654 42.8 25.5
Sales, marketing and support 480,343 394,153 337,777 21.9 16.7
General and administrative 178,669 125,425 105,799 42.5 18.6
Amortization of other
intangible assets 16,934 11,622 6,204 45.7 87.3
In-process research and development 1,000 7,000 19,100 (85.7) (63.4)
Total operating expenses 832,277 646,951 555,534 28.6 16.5
Income from operations 203,344 203,672 158,967 (0.2) 28.1
Interest income 41,210 23,614 14,274 74.5 65.4
Interest expense (927) (2,426) (4,537) (61.8) (46.5)
Write-off of deferred debt
issuance costs — — (7,219) * *
Other (expense) income, net (546) (506) 2,851 7.9 (117.7)
Income before income taxes 243,081 224,354 164,336 8.3 36.5
Income taxes 60,084 58,745 33,049 2.3 77.8
Net income $ 182,997 $ 165,609 $ 131,287 10.5 26.1
*not meaningful.
(a) See Note 2 to our consolidated financial statements included elsewhere in this Annual Report.