Citrix 2006 Annual Report Download - page 59

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Citrix Systems, Inc.  Annual Report

Year Ended December 31,
(In thousands, except per share information) 2006 2005 2004
(Restated) (Restated)

Product licenses $ 488,487 $ 409,435 $ 369,826
License updates 405,756 331,102 271,547
Online services 148,795 99,097 44,101
Technical services 91,281 69,088 55,683
Total net revenues 1,134,319 908,722 741,157

Cost of product license revenues 32,911 14,404 3,824
Cost of services revenues 46,585 26,929 16,705
Amortization of product related intangibles 19,202 16,766 6,127
Total cost of revenues 98,698 58,099 26,656
Gross margin 1,035,621 850,623 714,501

Research and development 155,331 108,751 86,654
Sales, marketing and support 480,343 394,153 337,777
General and administrative 178,669 125,425 105,799
Amortization of other intangible assets 16,934 11,622 6,204
In-process research and development 1,000 7,000 19,100
Total operating expenses 832,277 646,951 555,534
Income from operations 203,344 203,672 158,967
Interest income 41,210 23,614 14,274
Interest expense (927) (2,426) (4,537)
Write-off of deferred debt issuance costs —— (7,219)
Other (expense) income, net (546) (506) 2,851
Income before income taxes 243,081 224,354 164,336
Income taxes 60,084 58,745 33,049
Net Income $ 182,997 $ 165,609 $ 131,287

Basic $ 1.01 $ 0.96 $ 0.78
Diluted $ 0.97 $ 0.93 $ 0.75

Basic 180,992 172,221 168,868
Diluted 187,725 177,771 174,374
See accompanying notes.