Citrix announces Q4 and fiscal year 2013 earnings

Posted by Paola Cornacchiola   |   Thursday, January 30th, 2014   |  

Citrix announced its financial results for fourth quarter and fiscal year 2013, ended December 31, 2013.

Citrix announced a total revenue for Q4 of $802 million, for an increase of 8% compared to Q4 2012. The total revenue of fiscal year 2013 has been of $2.92 billion, for an increase of 13% compared to $2.59 billion for fiscal year 2012.


Net income registered a slight increase with $139 million, or $0.74 diluted share, compared to 2012 where it was $114 million, or $0.60 diluted share, while Non – GAAP results for the fourth quarter 2013 was $195 million, compared to $169 million for the same quarter 2012. Annual Non – GAAP results for fiscal year 2013 was $568 million, another slender increase compared to $543 million for fiscal year 2012.

Furthermore Citrix also announced Mark B. Templeton is going to return from his leave of absence to repossess his role as CEO until his retirement within the next year, for which rhe board of directors has created to identify the next CEO. David J. Henshall, acting CEO during Templeton’s absence, is now serving as chief operating officer.

In reviewing the results for the fourth quarter of fiscal year 2013, compared to the fourth quarter of fiscal year 2012:

  • Product and license revenue increased a half of a percent;
  • Software as a service revenue increased 13 percent;
  • Revenue from license updates and maintenance increased 11 percent;
  • Professional services revenue, which is comprised of consulting, product training and certification, increased 28 percent;
  • Net revenue increased in the EMEA region by 14 percent, increased in the Americas region by 8 percent and decreased in the Pacific region by 12 percent;
  • Deferred revenue totaled $1.4 billion as of December 31, 2013, compared to $1.2 billion as of December 31, 2012, an increase of 18 percent; and
  • Cash flow from operations was $230 million for the fourth quarter of fiscal year 2013, compared with $227 million for the fourth quarter of fiscal year 2012.

During Q4 2013:

  • GAAP gross margin was 83 percent and non-GAAP gross margin was 86 percent, excluding the effects of amortization of acquired product related intangible assets and stock-based compensation expense;
  • GAAP operating margin was 20 percent and non-GAAP operating margin was 30 percent, excluding the effects of amortization of acquired intangible assets and stock-based compensation expense; and
  • The company repurchased 4.4 million shares at an average price of $57.84.

In reviewing the results for fiscal year 2013 compared to fiscal year 2012:

  • Product and license revenue increased 7 percent;
  • Software as a service revenue increased 14 percent;
  • Revenue from license updates and maintenance increased 16 percent;
  • Professional services revenue, which is comprised of consulting, product training and certification, increased 17 percent;
  • Net revenue increased in the Americas region by 14 percent, increased in the EMEA region by 14 percent and increased in the Pacific region by 3 percent; and
  • Cash flow from operations was $928 million for fiscal year 2013 compared with $819 million for fiscal year 2012.

During the year ended December 31, 2013:

  • GAAP gross margin was 83 percent and non-GAAP gross margin was 86 percent, excluding the effects of amortization of acquired product related intangible assets and stock-based compensation expense;
  • GAAP operating margin was 13 percent and non-GAAP operating margin was 24 percent, excluding the effects of amortization of acquired intangible assets and stock-based compensation expense; and
  • The company repurchased 7.0 million shares at an average price of $62.40.


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