Citrix Systems, Inc. (Nasdaq: CTXS), wereldwijd marktleider op het gebied van application delivery infrastructure, heeft vandaag de financiële resultaten over het vierde kwartaal van 2007 gepresenteerd en van het boekjaar eindigend op 31 december 2007.
In het vierde kwartaal behaalde Citrix een omzet van 400 miljoen dollar, een toename van 24% ten opzichte van de 321 miljoen dollar in het vierde kwartaal van 2006. De jaaromzet over 2007 bedroeg 1,39 miljard dollar, wat neerkomt op een groei van 23% in vergelijking met de 1,13 miljard dollar in het voorgaande jaar. De nettowinst (GAAP) kwam in het vierde kwartaal uit op 63 miljoen dollar. Over heel het boekjaar 2007 bedroeg de nettowinst 214 miljoen dollar, tegen 183 miljoen dollar in 2006.
Belangrijkste resultaten uit het vierde kwartaal van 2007 ten opzichte van het vierde kwartaal in 2006 zijn onder andere:
- Een omzetgroei van 22% in EMEA;
- Inkomsten uit productlicenties stegen met 24%;
- Online diensten vormden 59 miljoen dollar van de omzet, een stijging van 37%;
- Inkomsten uit licentie-updates stegen met 19%;
- Inkomsten uit technische diensten, waaronder consultancy, educatie en technische ondersteuning vallen, waren 28% hoger;
- De end-to-end virtualisatiestrategie na de overname van XenSource, waardoor Citrix het meest uitgebreide end-to-end virtualisatie-portfolio in de sector biedt
Belangrijkste resultaat uit het boekjaar 2007 is een totale omzetgroei van 23% ten opzichte van het boekjaar 2006.
Het volledige persbericht vindt u hieronder:
Citrix Reports Record Fourth Quarter and Fiscal Year 2007 Financial Results
Year-over-year Quarterly Revenue Growth of 24%, Annual Revenue Growth of 23%
Board of Directors Authorizes $300 Million Increase to Share Repurchase Program
FORT LAUDERDALE, Fla. — Citrix Systems, Inc. (Nasdaq:CTXS), the global leader in application delivery infrastructure, today reported financial results for the fourth quarter and fiscal year ended December 31, 2007.
FINANCIAL RESULTS
In the fourth quarter of fiscal 2007, Citrix achieved revenue of $400 million, compared to $321 million in the fourth quarter of fiscal 2006, representing 24 percent revenue growth. Annual revenues for 2007 were $1.39 billion, compared to $1.13 billion in the previous year, a 23 percent increase.
GAAP Results
Net income for the fourth quarter of fiscal 2007 was $63 million, or $0.33 per diluted share, compared to $53 million, or $0.29 per diluted share for the fourth quarter of 2006. Annual net income for 2007 was $214 million, or $1.14 per diluted share, compared to $183 million, or $0.97 per diluted share in fiscal 2006.
Non-GAAP Results
Non-GAAP net income in the fourth quarter of 2007 increased 31 percent to $95 million, or $0.49 per diluted share, compared to $72 million, or $0.39 per diluted share, in the comparable period last year. Non-GAAP net income excludes the effects of amortization of intangible assets primarily related to business combinations, stock-based compensation expenses, the write-off of in-process research and development (IPR&D) and the tax effects related to those items.
Annual non-GAAP net income for 2007 was $299 million, or $1.59 per diluted share, compared to $260 million, or $1.38 per diluted share, in 2006. Non-GAAP net income excludes the effects of amortization of intangible assets primarily related to business combinations, stock-based compensation expenses, the write-off of IPR&D and the tax effects related to those items.
“What a great quarter to cap off an outstanding year,” said Mark Templeton, president and CEO of Citrix. “For the year, we saw very strong revenue growth, good EPS growth, and real traction in product licensing. Our results are proof that the application delivery strategy is resonating with our customers.”
In addition to quarterly and year-end financial results, Citrix also announced that its board of directors has authorized it to repurchase up to an additional $300 million of its common stock. As of December 31, 2007, approximately $33 million remained in authority from previous approvals. The total amount authorized pursuant to the company’s ongoing stock repurchase program is $1.8 billion, including the current authorization. The company plans to buy shares on the open market and through its structured repurchase programs from time to time, depending on market conditions.
Q4 Financial Highlights
In reviewing the fourth quarter results of 2007, compared to the fourth quarter of 2006:
- Product license revenue increased 24 percent;
- Revenue from license updates grew 19 percent;
- Online services contributed $59 million of revenue, representing an increase of 37 percent; and,
- Technical services revenue, which is comprised of consulting, education and technical support, grew 28 percent;
- Revenue grew in the America’s region by 23 percent; the EMEA region by 22 percent, and the Pacific region by 21 percent;
- Deferred revenue totaled $443 million, compared to $356 million on December 31, 2006;
- Operating margin was 12 percent for the quarter; non-GAAP operating margin was 25 percent for the quarter, excluding the effects of amortization of intangible assets primarily related to business combinations, stock-based compensation expense and the write-off of IPR&D;
- Cash flow from operations was $112 million, compared to $97 million in the fourth quarter of 2006;
- Repurchased shares were 5.4 million shares at an average price paid per share of $39.46.
Annual Financial Highlights
- Total annual revenue grew 23 percent compared to fiscal 2006;
- Annual diluted earnings per share for fiscal 2007 increased 17 percent compared to fiscal 2006. Annual non-GAAP diluted earnings per share for fiscal 2007 increased 15 percent compared to fiscal 2006. Annual non-GAAP diluted earnings per share excludes the effects of amortization of intangible assets primarily related to business combinations, stock-based compensation expenses, the write-off of IPR&D and the tax effects related to those items;
- Operating margin was 15 percent for fiscal 2007; non-GAAP operating margin was 23 percent, excluding the effects of amortization of intangible assets primarily related to business combinations, stock-based compensation expenses and the write-off of IPR&D;
- Cash flow from operations was $424 million for fiscal 2007 compared with $329 million last year;
- During fiscal 2007, the company repurchased 5.4 million shares at an average net price per share of $38.78 for a total value of approximately $209 million.
Financial Outlook for First Quarter 2008
Citrix management expects to achieve the following results during its first fiscal quarter 2008 ending March 31, 2008:
- Net revenue is expected to be in the range of $367 million to $377 million, compared to $308 million in the first quarter of 2007;
- GAAP diluted earnings per share is expected to be in the range of $0.15 to $0.17. Non-GAAP diluted earnings per share is expected to be in the range of $0.33 to $0.35, excluding $0.07 related to the effects of amortization of intangible assets primarily related to business combinations and $0.11 to $0.12 related to the effects of stock-based compensation expenses.
The above statements are based on current expectations. These statements are forward-looking, and actual results may differ materially.
Financial Outlook for Fiscal Year 2008
Citrix management expects to achieve the following results for the fiscal year 2008:
- The company expects net revenue to be in the range of $1.615 billion to $1.645 billion. The company expects GAAP diluted earnings per share to be in the range of $0.85 to $0.87. Non-GAAP diluted earnings per share to be in the range of $1.61 to $1.64. In addition, this number excludes $0.27 related to the effects of the amortization of intangible assets and $0.49 to $0.50 related to the effects of stock-based compensation expenses.
The above statements are based on current expectations. These statements are forward-looking, and actual results may differ materially.
Company, Product and Alliance Highlights
During the fourth quarter of 2007, Citrix announced:
- The completion of the XenSource acquisition;
- Its end-to-end virtualization strategy following the close of the XenSource acquisition allowing us to provide the industry’s broadest virtualization portfolio extending across servers, applications and desktops;
- A live demonstration in the Citrix iForumTM Tech Lab that highlighted advanced, first-of-its-kind technology marrying application acceleration from Citrix with Windows-based networking and application services from Microsoft;
- A partnership with Dell to deliver a XenServer embedded hypervisor on all Dell PowerEdge Servers for simple, easy-to-use and manage virtualization to customers of all sizes;
- A partnership with HP to qualify and sell Citrix XenServer™ Enterprise Edition on industry-standard HP ProLiant and BladeSystem servers;
- On-demand provisioning of virtual servers and desktops to dynamically stream datacenter workloads and desktop operating systems from network storage;
- Gartner, Inc. positioned Citrix Access GatewayTM in the leaders quadrant in the Magic Quadrant for SSL VPN, North America, 3Q07 report;
- PC Magazine selected Citrix® GoToMeeting® for its list of the “Best of 2007” for Web Services. In addition, Customer Interaction Solutions magazine recognized Citrix® GoToWebinar™ and Citrix® GoToAssist® with two Product of the Year Awards;
- LAPTOP Magazine picked Citrix® GoToMyPC® for Ultimate Choice and GoToMeeting for Editors’ Choice awards.
For Citrix Investors
This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release, which are not strictly historical statements, including, without limitation, statements by management, statements concerning the Company’s stock repurchase program, virtualization strategy, technology, the statements contained in the Financial Outlook for First Fiscal Quarter 2008, Financial Outlook for Fiscal Year 2008 and statements regarding management’s plans, objectives and strategies, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statements, including, without limitation, the success and growth of the company’s product lines; the company’s product concentration and its ability to develop and commercialize new products and services; the success of investments in its product groups, foreign operations and vertical and geographic markets; Citrix’s and Microsoft’s ability to develop and market application delivery and virtualization products; Citrix's timing and ability to successfully integrate acquired companies (including without limitation XenSource), their products, operations (including migration to Citrix's systems and controls) and employees; the introduction of new products by competitors or the entry of new competitors into the markets for Citrix's products; failure to further develop and successfully market the technology and products of acquired companies, including failure to execute Citrix's sales and marketing plans and failure to successfully partner with key distributors, resellers, OEM's and strategic partners; and the possible failure to achieve or maintain anticipated revenues and profits from acquisitions; the company’s ability to maintain and expand its business in small sized and large enterprise accounts; the size, timing and recognition of revenue from significant orders; the effect of new accounting pronouncements on revenue and expense recognition; the company’s reliance on and the success of the company’s independent distributors and resellers for the marketing and distribution of the company’s products and the success of the company’s marketing and licensing programs; intellectual property litigation; shareholder litigation and actions by the Securities and Exchange Commission and/or other governmental agencies and negative tax and other costs related to the remediation of certain tax-related liabilities, each in connection with the Audit Committee’s investigation of the company’s historical stock option granting practices and related accounting; increased competition; changes in the company’s pricing policies or those of its competitors; management of operations and operating expenses; charges in the event of the impairment of assets acquired through business combinations and licenses; the management of anticipated future growth and the recruitment and retention of qualified employees, including those of acquired companies; competition and other risks associated with the market for our Web-based access, training and customer assistance products and appliance products; as well as risks of downturns in economic conditions generally; political and social turmoil; and the uncertainty in the IT spending environment; and other risks detailed in the company’s filings with the Securities and Exchange Commission. Citrix assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
Use of Non-GAAP Financial Measures
In our earnings release, conference call, slide presentation or webcast, we may use or discuss non-GAAP financial measures as defined by SEC Regulation G. The GAAP financial measure most directly comparable to each non-GAAP financial measure used or discussed and a reconciliation of the differences between each non-GAAP financial measure and the comparable GAAP financial measure are included in this press release after the condensed consolidated financial statement and can be found on the Investor Relations page of the Citrix corporate Web site at
www.citrix.com/investors.
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Citrix®, GoToMyPC®, GoToMeeting®, GoToAssist®, Citrix Access Gateway™, Citrix XenServer™, Citrix iForum™ and Citrix GoToWebinar™ are trademarks of Citrix Systems, Inc. and/or one or more of its subsidiaries, and may be registered in the U.S. Patent and Trademark Office and in other countries. All other trademarks and registered trademarks are property of their respective owners.
BERICHT VOOR DE REDACTIE
Over Citrix
Citrix Systems, Inc. (Nasdaq: CTXS) is wereldwijd marktleider en de meest vertrouwde naam op het gebied van application delivery infrastructure. Meer dan 200.000 organisaties wereldwijd vertrouwen op Citrix om elke gebruiker optimaal toegang te bieden tot elke applicatie, met de beste prestaties, het hoogste beveiligingsniveau en de laagste kostprijs. De complete Fortune 100 en 99% van de Fortune Global 500 maakt gebruik van Citrix, alsmede honderdduizenden kleine bedrijven en particulieren. Citrix heeft ongeveer 6.200 verkoop- en alliantiepartners in meer dan 100 landen. In 2007 behaalde Citrix een omzet van $1,4 miljard. Kijk voor meer informatie op
www.citrix.com Voor meer persinformatie kunt u contact opnemen met:
Jelle Zuidema van LEWIS
Tel: +31 (0)40 235 46 00
E-mail:
jellez@lewispr.com Ed Bezooijen van Citrix Systems
Tel: +31 (0)347 324 800
E-mail:
ed.bezooijen@eu.citrix.com www.citrix.com