CITRIX SYSTEMS, INC. CTXS Income Statement

Citrix systems, inc. (CTXS)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09	Sep'08	Jun'08
Revenues:
License updates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	174,128	168,601	162,955	156,395	151,041	149,334	148,198	141,251	137,279
Online services
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	91,660	89,211	84,950	-	78,878	75,350	71,980	64,949	63,687
Professional services
-	-	-	-	-	-	-	-	-	-	-	-	-	-	29,851	34,852	32,607	36,912	36,676	37,040	36,860	48,766	42,322	41,948	42,505	42,226	33,725	36,416	26,512	32,920	31,022	29,246	25,873	27,505	23,200	21,303	19,477	-91,029	54,687	51,888	43,661	44,473	42,063	38,452	36,980	35,156	37,306
Revenue
860,945	809,823	732,901	748,697	719,143	801,870	732,476	742,365	697,192	777,857	690,925	693,227	662,677	734,584	668,736	673,987	658,773	275,323	813,270	796,759	760,802	271,691	758,994	781,560	750,819	802,420	712,731	730,384	672,899	739,996	641,422	615,210	589,495	619,366	565,348	530,790	490,888	529,724	472,233	458,433	414,272	451,160	401,042	392,828	369,058	398,893	391,730
Cost of net revenues:
Impairment of product related intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	54,936	960	0	375	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total cost of net revenues
115,577	119,177	126,918	110,479	107,473	112,851	103,917	108,749	108,286	121,939	105,937	109,312	102,458	99,716	98,171	107,191	99,811	62,429	146,254	132,751	132,606	48,139	135,985	175,256	134,326	136,708	123,933	127,240	114,914	117,368	106,068	94,358	86,343	82,100	79,689	71,833	59,977	72,214	57,798	53,555	48,699	52,615	45,418	44,061	45,216	42,288	45,857
Gross margin
745,368	690,646	605,983	638,218	611,670	689,019	628,559	633,616	588,906	655,918	584,988	583,915	560,219	634,868	570,565	566,796	558,962	212,894	667,016	664,008	628,196	223,552	623,009	606,304	616,493	665,712	588,798	603,144	557,985	622,628	535,354	520,852	503,152	537,266	485,659	458,957	430,911	457,510	414,435	404,878	365,573	398,545	355,624	348,767	323,842	356,605	345,873
Operating expenses:
Research and development
134,458	128,165	126,420	134,029	130,263	116,934	111,557	112,943	98,550	99,323	107,113	106,696	102,669	90,749	101,741	100,651	102,232	56,985	139,128	140,203	144,641	75,049	137,877	140,375	133,618	126,498	127,049	132,299	130,492	122,208	114,713	110,028	103,622	102,076	96,676	91,374	90,548	116,732	87,399	79,543	77,702	66,918	68,865	75,160	71,037	72,500	73,965
Sales, marketing and services
326,109	284,998	274,874	298,429	274,655	273,729	262,562	286,730	251,213	241,548	249,499	268,300	246,765	251,996	244,495	245,921	233,927	109,552	293,587	296,258	306,405	118,671	318,252	321,539	316,496	301,486	300,416	317,096	297,682	287,097	263,136	262,139	248,457	244,159	223,967	211,396	205,544	239,805	174,734	186,601	170,520	180,101	168,233	167,130	163,589	169,072	169,244
General and administrative
80,099	81,678	80,042	81,162	77,547	88,192	86,084	77,340	63,727	65,532	79,378	81,146	76,509	80,519	79,617	78,883	77,819	44,727	79,799	79,872	82,026	33,959	95,203	75,015	72,388	66,528	63,580	67,343	62,785	58,852	65,252	61,299	59,856	50,703	55,907	56,660	50,403	-15,434	67,404	60,805	60,619	64,328	57,254	59,552	58,489	61,866	68,067
Restructuring
2,500	6,257	8,879	4,311	2,800	3,587	-486	7,437	6,187	53,697	8,552	2,140	7,986	6,089	12,176	3,580	45,556	36,410	13,766	14,534	33,951	-3,193	3,124	4,511	9,650	0	0	0	0	-	-	-	-	0	0	0	24	49	87	335	500	3,646	61	2,036	20,730	0	0
Impairment of other intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	64,404	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of other intangible assets
702	4,219	4,937	3,205	3,529	4,106	4,063	4,019	3,666	6,119	3,733	3,692	3,646	3,627	3,907	3,822	3,720	-2,626	12,534	10,992	9,441	2,728	9,956	10,445	12,454	10,346	10,386	10,518	10,418	9,050	9,838	5,194	10,467	4,514	4,430	3,937	3,509	3,012	3,334	3,776	4,157	5,704	5,111	5,163	4,994	5,468	5,707
Separation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	456	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
543,821	505,285	495,152	521,136	488,826	486,548	463,780	488,469	423,343	466,219	448,275	461,974	437,575	432,524	441,936	432,857	463,710	247,781	603,218	541,859	576,464	233,535	564,412	551,885	544,606	504,858	501,431	527,256	501,377	477,207	452,939	438,660	422,402	401,452	380,980	363,367	350,028	344,164	332,958	331,060	313,498	320,697	299,524	309,041	318,839	308,906	316,983
Income from operations
201,547	185,361	110,831	117,082	122,844	202,471	164,779	145,147	165,563	189,699	136,713	121,941	122,644	202,344	128,629	133,939	95,252	-34,887	63,798	122,149	51,732	-9,983	58,597	54,419	71,887	160,854	87,367	75,888	56,608	145,421	82,415	82,192	80,750	135,814	104,679	95,590	80,883	113,346	81,477	73,818	52,075	77,848	56,100	39,726	5,003	47,699	28,890
Interest income
1,605	2,087	2,649	3,870	9,674	11,001	10,896	9,402	8,731	8,763	7,873	5,560	5,612	4,578	4,193	4,164	3,751	2,996	3,004	2,841	2,834	2,716	2,411	2,141	2,153	2,132	2,079	2,021	1,962	2,187	2,059	2,828	3,078	3,068	3,085	3,727	3,939	3,546	3,638	3,837	3,556	3,516	4,059	4,393	2,715	7,316	7,599
Interest expense
14,611	8,830	8,822	10,289	18,033	19,322	19,962	20,542	20,336	16,323	11,726	12,007	11,553	11,344	11,254	11,196	11,155	10,957	11,075	11,001	11,120	10,731	10,551	6,984	66	-	41	47	-	-	-	-	-	-	-	-	-	-	-	-	-	-	85	34	124	143	55
Other income, net
2,098	-2,659	3,456	-3,420	3,699	-6,526	3,702	-2,537	-3,012	-16	981	-1,141	3,326	-3,350	494	-272	-1,003	7,750	-2,369	-3,262	-7,849	-1,692	-2,235	1,452	-5,219	-928	1,400	-599	-766	1,940	6,424	525	722	-336	-4,946	1,361	3,633	-950	2,062	-2,962	377	-407	1,651	710	-1,422	-3,992	-1,222
Income before income taxes
190,639	175,959	108,114	107,243	118,184	187,624	159,415	131,470	150,946	182,123	133,841	114,353	120,029	192,228	122,062	126,635	86,845	-35,098	53,358	110,727	35,597	-19,690	48,222	51,028	68,755	162,018	90,805	77,263	57,804	149,236	90,898	85,545	84,550	138,546	102,818	100,678	88,455	115,942	87,177	74,693	56,008	81,200	61,725	44,795	6,172	50,880	35,212
Income tax expense
9,417	-31,154	-162,743	13,748	7,836	21,906	558	24,637	6,687	466,012	7,121	5,524	49,704	13,653	10,325	20,346	13,591	-62,144	-2,567	7,452	6,710	-30,414	690	-1,996	12,816	23,374	14,075	12,802	-1,884	35,207	12,653	-6,461	16,283	29,847	10,642	19,270	15,108	22,186	-602	27,136	8,659	-6,948	8,302	2,276	-755	1,731	563
Income from continuing operations
-	-	-	-	-	-	-	-	-	-283,889	126,720	108,829	70,325	178,575	111,737	106,289	73,254	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss from discontinued operations, net of income tax expense of $2,900 in 2017
-	-	-	-	-	-	-	-	-	0	0	0	-42,704	21,275	20,164	14,609	10,209	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Consolidated net income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	78,245	92,006	68,267	108,699	92,176	81,408	73,347	93,756	87,779	47,557	47,349	-	-	-	-	-	-
Less: Net loss attributable to non-controlling interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-536	-156	-	0	-	0	-	-	-	-	-	-
Net income
181,222	207,113	270,857	93,495	110,348	165,718	158,857	106,833	144,259	-283,889	126,720	108,829	27,621	199,850	131,901	120,898	83,463	131,274	55,925	103,275	28,887	95,228	47,532	53,024	55,939	138,644	76,730	64,461	59,688	-	-	-	-	108,699	92,176	81,944	73,503	94,380	87,779	47,557	47,349	88,148	53,423	42,519	6,927	49,149	34,649
Basic earnings (loss) per share:
Income from continuing operations (USD per share)
-	-	-	-	-	-	-	-	-	-1.87	0.84	0.72	0.46	1.15	0.72	0.69	0.47	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Loss) income from discontinued operations (USD per share)
-	-	-	-	-	-	-	-	-	0.00	0.00	0.00	-0.28	0.14	0.13	0.09	0.07	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings per share:
Basic earnings per share (in dollars per share)
1.45	1.58	2.08	0.71	0.84	1.22	1.18	0.79	1.04	-1.87	0.84	0.72	0.18	1.29	0.85	0.78	0.54	0.84	0.35	0.64	0.18	0.58	0.29	0.31	0.30	0.75	0.41	0.34	0.32	0.61	0.42	0.49	0.37	0.58	0.49	0.44	0.39	0.50	0.47	0.26	0.26	0.49	0.29	0.23	0.04	0.27	0.19
Diluted earnings (loss) per share:
Income from continuing operations (USD per share)
-	-	-	-	-	-	-	-	-	-1.82	0.82	0.70	0.44	1.13	0.71	0.68	0.47	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Loss) income from discontinued operations (USD per share)
-	-	-	-	-	-	-	-	-	0.00	0.00	0.00	-0.27	0.13	0.13	0.09	0.07	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Diluted earnings per share (in dollars per share)
1.42	1.51	2.04	0.70	0.78	1.14	1.08	0.73	0.99	-1.82	0.82	0.70	0.17	1.26	0.84	0.77	0.54	0.82	0.35	0.64	0.18	0.57	0.29	0.31	0.30	0.73	0.41	0.34	0.32	0.60	0.41	0.49	0.36	0.57	0.49	0.43	0.38	0.50	0.46	0.25	0.25	0.47	0.29	0.23	0.04	0.26	0.18
Weighted average shares outstanding:
Basic (in shares)
124,737	130,343	130,277	131,309	131,483	133,824	135,055	135,993	139,248	147,501	151,156	151,212	153,247	155,946	155,525	154,998	154,067	153,729	160,359	161,085	160,323	161,317	164,229	169,973	183,997	185,342	187,459	187,229	186,658	187,922	186,864	186,372	185,730	187,019	186,979	187,691	187,571	188,004	186,558	185,256	184,018	182,775	182,531	181,567	180,347	182,228	183,595
Diluted (in shares)
127,577	134,023	132,655	134,277	141,025	144,333	147,568	145,447	146,388	152,980	154,627	156,036	158,369	158,193	157,532	156,666	155,945	155,608	161,777	162,027	162,036	162,795	165,713	170,891	185,681	186,503	188,980	188,486	189,011	188,682	189,671	189,279	188,884	189,922	189,730	191,412	191,500	192,216	191,004	189,278	188,842	186,493	186,334	184,740	182,373	185,666	188,021
Subscription [Member]
Revenue
268,236	193,498	159,873	155,833	141,606	129,783	111,539	110,796	103,158	89,676	81,373	74,596	69,090	147,054	34,673	32,764	31,115	-433,854	190,757	177,584	169,364	-407,669	165,253	160,779	157,132	153,269	148,179	143,858	137,566	135,421	129,659	125,510	120,733	114,404	109,558	106,479	99,772	-	-	-	-	-	-	-	-	-	-
Product and License [Member]
Revenue
172,858	176,741	131,057	140,654	135,022	210,788	170,952	192,058	160,697	639,897	-23,386	-20,633	170,899	183,394	206,041	219,507	202,033	279,301	206,252	204,974	183,281	263,642	193,153	231,792	207,424	269,889	201,443	227,215	193,083	268,674	195,690	187,917	178,364	229,047	193,880	171,326	150,260	196,255	151,758	148,733	122,706	168,323	129,060	129,692	111,900	157,537	153,458
Cost of net revenues
21,256	27,419	27,411	21,878	25,744	29,099	27,571	29,707	33,872	33,633	27,277	32,735	29,711	28,314	28,059	33,623	31,395	34,432	34,859	24,290	24,684	35,966	24,045	32,762	31,337	30,467	26,971	31,700	25,794	33,086	24,218	20,854	18,804	19,559	22,345	18,448	14,041	19,557	19,325	15,149	12,651	15,969	13,191	11,506	11,494	10,555	12,781
Support and Services [Member]
Revenue
419,851	439,584	441,971	452,210	442,515	461,299	449,985	439,511	433,337	1,281,374	19,885	19,227	422,688	501,446	398,171	386,864	393,018	392,964	379,585	377,161	371,297	366,952	358,266	347,041	343,758	337,036	329,384	322,895	315,738	302,981	285,051	272,537	264,525	248,410	238,710	231,682	221,379	-	-	-	-	-	-	-	-	-	-
Subscription, Support and Service [Member]
Cost of net revenues
86,040	83,125	76,885	78,817	71,428	70,870	64,717	67,523	63,385	65,680	61,096	64,167	59,659	59,206	55,337	59,178	54,359	-41,715	91,295	89,733	89,190	-27,392	87,981	88,099	78,683	81,749	72,632	71,198	64,411	60,822	58,920	56,404	51,004	47,720	42,665	40,843	33,237	39,467	25,934	25,989	23,690	23,793	20,685	21,132	21,623	19,785	20,100
Product related intangible assets
Amortization and impairment of intangible assets
8,281	8,633	22,622	9,784	10,301	12,882	11,629	11,519	11,029	22,626	17,564	12,410	13,088	12,196	14,775	14,390	14,057	14,776	19,140	18,728	18,357	-13,430	23,959	54,395	24,306	24,492	24,330	24,342	24,709	23,460	22,930	17,100	16,535	14,821	14,679	12,542	12,699	13,190	12,539	12,417	12,358	12,853	11,542	11,423	12,099	11,948	12,976