Citrix 2007 Annual Report Download - page 78
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CITRIX SYSTEMS, INC.
CONSOLIDATED STATEMENTS OF INCOME
Year Ended December 31,
2007 2006 2005
(In thousands, except per share
information)
Revenues:
Product licenses .......................................... $ 577,144 $ 488,487 $409,435
License updates .......................................... 484,669 405,756 331,102
Online services ........................................... 213,744 148,795 99,097
Technical services ........................................ 116,385 91,281 69,088
Total net revenues .................................... 1,391,942 1,134,319 908,722
Cost of revenues:
Cost of product license revenues ............................. 42,984 32,911 14,404
Cost of services revenues ................................... 65,027 46,585 26,929
Amortization of product related intangibles .................... 29,596 19,202 16,766
Total cost of revenues ................................. 137,607 98,698 58,099
Gross margin ................................................ 1,254,335 1,035,621 850,623
Operating expenses:
Research and development .................................. 205,103 155,331 108,751
Sales, marketing and support ................................ 590,409 480,343 394,153
General and administrative ................................. 229,229 178,669 125,425
Amortization of other intangible assets ........................ 17,387 16,934 11,622
In-process research and development ......................... 9,800 1,000 7,000
Total operating expenses ................................... 1,051,928 832,277 646,951
Income from operations ........................................ 202,407 203,344 203,672
Interest income ............................................... 49,704 41,210 23,614
Interest expense .............................................. (737) (927) (2,426)
Other expense, net ............................................ (466) (546) (506)
Income before income taxes ..................................... 250,908 243,081 224,354
Income taxes ................................................. 36,425 60,084 58,745
Net income .................................................. $ 214,483 $ 182,997 $165,609
Earnings per share:
Basic ................................................... $ 1.18 $ 1.01 $ 0.96
Diluted ................................................. $ 1.14 $ 0.97 $ 0.93
Weighted average shares outstanding:
Basic ................................................... 181,501 180,992 172,221
Diluted ................................................. 187,380 187,725 177,771
See accompanying notes.
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