CITRIX SYSTEMS, INC.
Condensed Consolidated Statements of Income
(In thousands, except per share data - unaudited)
Three Months Six Months
Ended June 30, Ended June 30,
1999 1998 1999 1998
Net revenues $94,415 $56,204 $179,454 $105,506
Cost of goods sold 3,101 4,681 7,622 9,530
Gross margin 91,314 51,523 171,832 95,976
Operating expenses:
Research and development 8,913 4,211 17,121 7,489
Sales, marketing and
support 29,291 18,583 53,938 33,471
General and administrative 8,226 4,101 14,957 7,806
Amortization of Intangibles 3,764 1,446 7,542 2,220
In-process research
and development -- 10,700 -- 15,984
Total operating expenses 50,194 39,041 93,558 66,970
Income from operations 41,120 12,482 78,274 29,006
Other income, net 2,294 2,550 5,403 5,209
Income before income taxes 43,414 15,032 83,677 34,215
Income taxes 15,629 5,412 30,124 12,318
Net income $27,785 $9,620 $53,553 $21,897
Earnings per share $.29 $0.11 $0.57 $0.24
Weighted average
shares outstanding 94,491 90,837 94,090 90,214
Adjusted net income $30,194 $17,394 $58,380 $33,549
Adjusted net income
per share-diluted $0.32 $0.19 $0.62 $0.37
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