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In a release dated October 21, the company stated:
- In the third quarter of fiscal 2009, Citrix achieved revenue of $401 million, compared to $399 million in the third quarter of fiscal 2008.
- GAAP Results. Net income for the third quarter of fiscal 2009 was $53 million, or $0.29 per diluted share, compared to $49 million, or $0.26 per diluted share, for the third quarter of 2008.
- Non-GAAP Results. Non-GAAP net income in the third quarter of fiscal 2009 and 2008 was $80 million, or $0.43 per diluted share. Non-GAAP net income for both periods excludes the effects of amortization of intangible assets primarily related to business combinations and stock-based compensation expense and the tax effects related to those items. In addition, non-GAAP net income for the third quarter of 2009 excludes charges recorded in connection with the restructuring program that the company implemented in January 2009, and the tax effects related to those items.
"I'm pleased with our solid third quarter results," said Mark Templeton, president and chief executive officer for Citrix. "Our sales, product and operational teams executed very well in a tough economic climate to not only post good results, but to strengthen Citrix leadership in the web collaboration, desktop virtualization and datacenter transformation markets."
In reviewing the third quarter results of 2009, compared to the third quarter of 2008:
- Product license revenue decreased 18 percent
- Revenue from license updates grew 7 percent
- Online services revenue grew 21 percent
- Technical services revenue, which is comprised of consulting, education and technical support, grew 20 percent
- Revenue decreased in the EMEA region by 15 percent; decreased in the Pacific region by 5 percent; and increased in the America's region by 5 percent
- Deferred revenue grew to $556 million, compared to $481 million on September 30, 2008
- GAAP operating margin was 14 percent for the quarter and 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 costs associated with the restructuring program;
- Cash flow from operations was $134 million
- The company repurchased 2.1 million shares at an average price of $35.56
Citrix Systems is a provider of virtualization, networking and cloud computing solutions for more than 230,000 organizations worldwide.
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