Citrix reports second quarter financial results
Citrix has reported financial results for the second quarter of fiscal 2012 ended June 30, 2012. In the second quarter of fiscal 2012, Citrix achieved revenue of $615 million, compared to $531 million in the second quarter of fiscal 2011, representing 16 percent revenue growth.
Net income for the second quarter of fiscal 2012 was $92 million, or $0.49 per diluted share, compared to $82 million, or $0.43 per diluted share, in the comparable period last year. Net income for the second quarter of fiscal 2012 includes net tax benefits of approximately $22 million, or $0.11 per diluted share, primarily related to the closing of audits with the IRS for certain tax years.
Non-GAAP net income for the second quarter of fiscal 2012 was $135 million, or $0.71 per diluted share, compared to $108 million, or $0.57 per diluted share, in the comparable period last year. Non-GAAP net income for the second quarter of fiscal 2012 includes net tax benefits of approximately $22 million, or $0.11 per diluted share, primarily related to the closing of audits with the IRS for certain tax years. Non-GAAP net income excludes the effects of amortization of acquired intangible assets, stock-based compensation expenses, and the tax effects related to these items.
“In Q2, we saw solid growth in an uncertain economic climate,” said Mark Templeton, president and chief executive officer for Citrix. “So, I’m pleased with our execution, and our strong market positions.
“As the rapid transformation from PC Era to Cloud Era continues, we’re delivering solutions that make it easy for customers to build new clouds, connect to cloud services, and empower their users to work from anywhere.”
In addition to quarterly financial results, Citrix also announced that its Board of Directors has authorized it to repurchase up to an additional $400 million of its common stock. As of June 30, 2012, approximately $87 million remained for repurchases from previous authorizations.
Q2 Financial Summary
* In reviewing the results from the second quarter of 2012, compared to the second quarter of 2011:
* Product and licenses revenue increased 10 percent;
* Software as a service revenue increased 18 percent;
* Revenue from license updates and maintenance increased 18 percent;
* Professional services revenue, which is comprised of consulting, product training and certification, increased 37 percent;
* Revenue increased in the Pacific region by 24 percent, increased in the EMEA region by 21 percent, and increased in the Americas region by 11 percent;
* Deferred revenue totaled $1.03 billion, compared to $830 million as of June 30, 2011;
* Cash flow from operations was $168 million, compared with $162 million in the second quarter of 2011; and
GAAP operating margin was 13 percent for the quarter and non-GAAP operating margin was 23 percent for the quarter, excluding the effects of amortization of acquired intangible assets and stock-based compensation expenses.