Roger RE CTXS >>They have not yet received any of the $100 million potential royalty from MSFT on Hydra.<<
This is not right look at the cash flow statement the positive cash flow from operations in the amount of 69,125,000 came from MSFT!
5 Citrix Systems, Inc.
Condensed Consolidated Statements of Cash Flows
(Unaudited)
Nine Months Ended
September 30,
1997 1996
----------------------------
Operating activities
Net income $ 28,864,965 $ 11,784,377
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 1,012,578 217,538
Provision for doubtful accounts and product returns 4,177,772 914,573
Tax benefit related to the exercise of non-statutory stock options and
disqualified dispositions of incentive stock options 3,406,613 3,509,763
Deferred tax assets (25,305,333) (841,565)
Changes in operating assets and liabilities:
Accounts receivable (7,213,449) (4,446,636)
Inventories (661,531) (401,092)
Prepaid expenses (288,922) 11,342
Other assets - (1,047,335)
Interest on note receivable from officer - 28,910
Deferred revenue 863,093 594,772
Deferred revenue on contract with stockholder 69,125,000 -
Accounts payable (175,842) 180,686
Accrued royalties and other accounts payable to stockholder 1,309,477 700,419
Income taxes payable 6,520,870 (93,100)
Other accrued expenses 4,617,665 1,015,643
----------------------------
Net cash provided by operating activities 86,252,956 12,128,295 |
