Citrix Systems

Citrix is an American provider of cloud technologies that provide additional opportunities for remote cooperation and mobile-style work, regardless of location, using any computer device, as when working in the office.

Product Portfolio

Performance indicators

2021: Revenue - $3.22 billion, net profit - $307.5 million

In 2021, Citrix earned $3.22 billion in revenue, which is slightly more than a year earlier, when sales from the American company amounted to $3.24 billion. Such data were released by the manufacturer of virtualization tools at the end of January 2022.

In the structure of turnover, Citrix's revenues from sales of products and licenses in 2021 amounted to $171.2 million, while in 2020 - $444.4 million. This decline is due to the company's transition to distribution of subscription software.

Income from license renewal and support services (includes regular payments to customers for subscriptions after purchasing licenses) in 2021 turned out to be $1.49 billion, reducing from $1.68 billion in 2020. The company earned $1.56 billion on subscriptions, which is significantly more than the 2020 result of $1.11 billion.

Citrix's net profit in 2021 amounted to $307.5 million, significantly decreasing compared to the previous year's profit of $504.4 million.

The largest market for Citrix's presence remains the Americas, which brought the company 55% of revenue. The second place in terms of income is occupied by the region EMEA (, Europe Middle East,) Africa with a share of 35%. This is followed by the Asia-Pacific region (11%).

In terms of products, the revenue structure is dominated by Workspace solutions (this also includes sales of products by Wrike, which was bought by Citrix), which account for 77% of sales. Products classified as App Delivery and Security provided the manufacturer with 20% of revenue. Professional services brought the company 3% of revenue.

Citrix believes that revenues from the provision of professional services will continue to decline as they switch to a subscription model for software distribution.

Citrix 2021 Reporting

Business in Russia

Citrix Systems

Citrix Partner Program

Citrix Partner Program

2023: Biggest layoffs in history

On January 10, 2023, it became known that Cloud Software Group, the parent company of cloud service provider Citrix and enterprise application developer Tibco, began the largest staff reduction in its history. Read more here.

History

2022: Vista and Evergreen buy Citrix for $16.5 billion

In late January 2022, investment firms Vista Equity Partners and Evergreen Coast Capital bought Citrix. The amount of the transaction is estimated at $16.5 billion.

Citrix shareholders will receive $104 for each share, the amount will be paid from the company's own funds. The deal includes taking over Citrix's debt, but the amount of the debt is not specified. Vista and Evergreen plan to merge Citrix with one of Vista's portfolio companies, Tibco Software.

Together with Tibco, we will be able to operate on a larger scale and provide a wider customer base with an expanded range of solutions to accelerate their digital transformation and enable them to secure the future of hybrid operation. As a private company, we will have increased financial and strategic flexibility to invest in rapid growth opportunities like DaaS and accelerate the current transition to the cloud, "said interim Citrix CEO and President Bob Kalderoni.

Tibco is a global leader in enterprise data management, enabling its customers to connect, unify and confidently predict business results.

The union will create one of the world's largest software providers serving 400,000 customers, including 98% of the Fortune 500, with 100 million users in 100 countries. In addition, it will accelerate Citrix's strategy to develop and transition to SaaS. The combined company will be able to provide a complete, secure, and optimized infrastructure for enterprise application delivery as well as data management to advance hybrid cloud IT strategies and meet the needs of today's enterprise.

The company will continue to operate under the Citrix name and brand, with its headquarters remaining in Fort Lauderdale, Florida. The deal, approved by Citrix's board, is expected to close in mid-2022. The deal also needs approval from Citrix shareholders.^[1]

2021

Bob Kalderoni- new president and CEO of Citrix

On October 6, 2021, Citrix announced the appointment of Bob Kalderoni as the company's new president and CEO. In these positions, he will succeed David Henshall, who left the manufacturer of virtualization systems for unnamed reasons. Henshall's new place of work has not been announced. Read more here.

Purchase of Wrike software developer

On January 19, 2021, Citrix announced the purchase of Wrike for $2.25 billion. It is planned to close the deal in the first half of the year, it "slightly dilutes" Citrix's profit in 2021, according to a press release. Read more here.

2020: Revenue up 8% thanks to SaaS

Citrix ended 2020 with 8 percent revenue growth, which reached $3.24 billion. This rise was largely facilitated by the sale of Solutions SaaS - they jumped by 38%, to $541 million. Thus, the software offered as a service accounted for almost 17% of the company's turnover.

At the expense of SaaS, revenues from the implementation of software subscriptions from Citrix in 2020 jumped 71%, exceeding $1.11 billion. At the same time, sales of licenses for products installed on client computers decreased by 24%, to $444 million. Another revenue item of the American vendor is services, including product support. Here, revenue in 2020 amounted to $1.68 billion, having decreased by 6% compared to 2019, according to the financial report.

The lion's share of Citrix's revenues (about 74%) in 2020 was brought by Workspace products, on which the company earned $2.4 billion, which is 13% higher than a year ago. In the direction of App Delivery and Security (its share in the company's revenue was 22%), a 4% decrease in annual turnover was recorded, to $721 million. In the segment of professional services, revenue decreased even more - by 15%, to $113 million. The company explained this decline by the fact that customers continue to actively switch to using subscription products.

North and South America remain Citrix's largest region of presence. There, the company's revenue at the end of 2020 was equal to $1.77 billion, which is 4% more than a year earlier. In EMEA, sales grew by 16%, reaching $1.15 billion, and in the Asia-Pacific region, annual turnover grew by 3%, to $323 million.

In 2020, Citrix's net profit amounted to $504.4 million, significantly decreasing relative to the profit a year ago in the amount of $681.8 million.^[2]

2019

Revenue - $3.01 billion; profit - $681.8 million

In 2019, Citrix's revenue for the first time exceeded $3 billion and reached $3.01 billion. In 2018, sales were measured at $2.97 billion.

The lion's share of the company's revenues still falls on the provision of support services and various services - in 2019, the turnover from this amounted to $1.78 billion, which is slightly less than a year earlier ($1.78 billion).

The sale of products and software licenses brought Citrix annual revenue of $584 million, which significantly falls short of the value of a year ago ($735 million).

At the same time, revenues from subscription sales continue to grow. In 2019, they increased to $651 million from $455 million in 2018. In this segment, sales software as a service (model) SaaS reached $391 million against $273 million in 2018. The rest of the subscriptions added $260 million to the company's annual revenue - the US SaaS vendor's business is the fastest growing: in 2019, positive dynamics amounted to 43%.

In 2019, Citrix's turnover in the EMEA region (Europe, Middle East, Africa) rose by 4% compared to the previous year and reached $991 million. In the Americas, revenues fell 1% (to $1.71 billion), and in the Asia-Pacific region there was a 5% rise and an increase in sales to $315 million.

In 2019, Citrix's net profit was $681.8 million against $575.7 million a year earlier.

Along with the publication of the financial statements, Citrix announced an increase in the share buyback program by $1 billion. Taking this into account, the company intends to return to investors the total capital of $1.75 billion.

On the day the financial results were announced, Citrix shares rose 4% in electronic trading after the exchange closed. Over the past 12 months, vendor quotes have risen 10%, while the S&P 500, to which Citrix belongs, has increased by 26%.^[3]

Citrix hacked with simple password enumeration

At the end of July 2019, it became known that hackers who hacked Citrix computer systems in 2018 used a simple password-guessing technique. In this case, they went through frequently used weak passwords until one of them worked.

By the end of July 2019, Citrix is supplying products and services to over 400,000 companies worldwide. The vendor is still studying what documents have become available to hackers and is sending out to a "limited number of customers" who may need "additional security measures," Citrix President David Henshall wrote on his blog.

According to the head, a simple enumeration of passwords allowed hackers to gain access to drives from October 2018 to March 2019 and steal corporate files from the Citrix network drive.

Henshall added that cybercriminals could also access individual virtual disks and email accounts of a very limited number of compromised users and run a limited number of internal applications. He refused to answer the question of what these "internal applications" are and what their function is. Henshall also did not say who committed the hack or what the ultimate target of the hackers was. Perhaps this information is still unknown - after all, VPN service providers can be a tidbit for any grouping of attackers who try to penetrate the network of any corporation, CyberScoop reports.

Company representatives also explained what measures they took to protect their data after the hack. All corporate passwords were reset, internal access to the company's data for "non-essential" web services was disabled, and the data itself, especially those leaving the corporate network, began to be monitored more closely.^[4]

Hacking the company's network with hackers and stealing up to 10 TB of data

On March 8, 2019, Citrix reported a cyber attack on its computer systems. The company's network was hacked by hackers, a large amount of data was stolen.

Citrix did not disclose detailed information about what happened and only announced the adoption of "measures to eliminate this incident," including conducting a forensic examination, organizing additional protection of its network and involving a third-party consultant.

The FBI told reporters that unauthorized access to Citrix's internal servers was recorded. According to law enforcement agencies, an international group of cybercriminals could gain access to the company's business documents.

Resecurity International, which specializes in information security, claims that it spoke about the FBI cyber attack and Citrix itself before it was announced publicly. 

According to experts, the attack has become the work of the hacker group IRIDIUM, which may be associated with the Iranian government. The attackers managed to steal 6 to 10 TB of confidential files stored on Citrix servers, including email correspondence, procurement documentation and project management.

The hackers are supposed to have used a tactic called "password spraying": they used weak passwords to gain restricted access and then worked to bypass other security systems.

The incident was identified as part of a complex cyber espionage campaign supported at the state level due to its strong focus on the government, military-industrial complex, energy companies, financial institutions and large enterprises involved in critical areas of the economy, according to the Resources blog.

Resources President Charles Yu, in a conversation with NBC in March 2019, said that hackers could have entered the Citrix network about 10 years ago, and since then they have been "hiding in the company's system."^[5]

EMEA Management Changes

On February 27, 2019, Citrix announced a management change in EMEA to optimize support for its customers and partners as they transition to new markets, implement, and manage complex cloud environments.

So, Eric Kline took the position of executive director. In turn, Daren Finney replaced him in his previous position, becoming vice president of partner relations in the EMEA region. In addition, Lee Hughes has been appointed vice president of network technology.

The excessive complexity of cloud technologies and their adaptation to new processes and business models pose a significant challenge for both partners and customers. By focusing on sales, working with partners, and developing our network technology business, Citrix has all the tools it needs to transform the cloud and realize its benefits. I am glad that such professional managers will deal with these issues, which will allow our company to fully and promptly meet the needs of customers, "commented Sherif Seddik, Senior Vice President and Managing Director of Citrix in EMEA.

2018

Revenue - $2.97 billion; profit - $575.7 million

In 2018, Citrix raised $2.97 billion against $2.82 billion a year earlier. Subscription sales jumped 45% to more than $455.3 million.

The company earned $734.5 million on the sale of products and licenses in 2018, while in 2017 the figure was measured at $766.8 million.

Revenues from license renewal and support services (including regular payments to customers for subscriptions after purchasing licenses) turned out to be $1.78 billion, which is slightly more than a year earlier ($1.74 billion).

The Citrix report reported that software offered as a service (SaaS) accounted for about 15% of the company's turnover. This business became the most important component when the vendor switched to a subscription software distribution model .

Citrix revenue in EMEA (Europe, Middle East, Africa) increased by 8% in 2018 relative to 2017. In the Americas, incomes rose by 4%, and in the Asia-Pacific region there was a rise of 3%.

By the end of 2018, Citrix's deferred revenue increased to $2.17 billion from $1.94 billion a year earlier. Operating cash flows reached $206 million.

Citrix's net profit for 2018 was $575.7 million, while for the previous year there were net losses equal to $20.7 million.

On the day of the publication of the financial statements for 2018 - January 23, 2019 - Citrix shares fell by 6%, while in 2018 their price jumped by 16%.

Commenting on the financial results, Citrix CEO and President David Henshell said that by the beginning of 2019, the company's customer base is only 25-30% of the number of customers who could use Citrix products. Roughly three-quarters of the manufacturer's revenue comes from Citrix Workspace's digital workplace solutions.^[6]

Financial forecasts

Citrix management expects to receive the following results from ongoing operations for the fiscal year ending December 31, 2018, which do not reflect the implementation of the ASC 606 system.

• Net revenue is planned in the range of $2.86 billion to $2.88 billion.
• Diluted earnings from continuing operations per share under GAAP are planned to range from $3.18 to $3.33.
• Diluted earnings from continuing non-GAAP operations per share are planned in the range of $4.80 to $4.90, excluding $1.39 related to compensation costs, related to shares, $0.38 related to amortization of acquired intangible assets, $0.24 related to debt discount depreciation, $0.10 related to restructuring expenses, and $0.39 to $0.64 relating to the tax effect associated with these items. Non-GAAP diluted earnings per share reflects the impact of the anti-dilution effect of convertible bond hedging and does not include the impact of reforming the American tax system that cannot be determined without undue effort.

Purchase of micro-app developer Sapho for $200 million

On November 15, 2018, Citrix announced the acquisition of a developer of micro-applications for collaboration services Sapho to help its corporate clients achieve greater productivity. The buyer will pay $200 million of his own funds to pay for the transaction. More. here

Appointment of managers in the Emerging Markets region

Citrix on August 10, 2018 announced the appointment of Vika Rentzepi, Petr Faderski and Sevi Tufekci to senior positions. According to the company, the assignments will enable Citrix to optimize support for customers and partners in the Emerging Markets region as customers move to implement and manage complex cloud environments.

The named management team will help Andy McDonald, Vice President for Emerging Markets Region, grow profits, dynamically develop and maintain the company's partner ecosystem. The Emerging Markets region was created earlier in 2018 and is aimed at countries with high economic growth rates, includes Russia and the CIS, countries of Eastern Europe (Turkey, Israel and countries of Southeast Europe), countries of the Middle East and Africa.

Two executives transferred to Citrix from other companies, and the third received a promotion within the company. Vika Rentzepi now holds the post of Regional Sales Director for Eastern Europe. Petr Faderski, who has served as interim sales director since January 2018, has taken up the position of director of partners in the Emerging Markets region. Tufekci leads a group of system engineers in the region.

Cloud Services Architecture

Cedexis Purchase

In February 2018, Citrix announced the purchase of application delivery software developer Cedexis. The value and other terms of the transaction were not disclosed. Read more here.

2017

Revenue growth by 3% to $2.82 billion

Citrix Systems released its financial results for the fiscal year ended December 31, 2017 on January 31, 2018. The company's annual revenue from ongoing operations amounted to $2.82 billion, which is 3% more than in fiscal 2016 ($2.74 billion).

Net annual income from continuing GAAP operations in fiscal 2017 was $22 million, or $0.14 per 1 diluted share, versus $470 million, or $2.99 per 1 diluted share, in fiscal 2016. As explained in the company, this indicator in the 2017 and 2016 fiscal years includes restructuring costs in the amount of $72 million and $67 million, respectively, related to the separation and closure of part of the business. Net annual income from continuing operations in fiscal 2017 also includes $429 million in expenses related to the entry into force of the December 2017 Tax and Job Cuts Act related to transitional taxes on accumulated income from foreign operations and the revaluation of US deferred tax assets and debts.

Non-GAAP net income from continuing operations in fiscal 2017 was $744 million, or $4.85 per 1 diluted share, versus $700 million, or $4.45 per 1 diluted share, in fiscal 2016. Financial year 2017 and 2016 figures do not include expenses: share-related compensation; amortization of acquired intangible assets; on amortization of the debt discount; on restructuring and tax effect relating to these expenses. The 2017 figure also excludes GoTo business separation costs and expenses related to the entry into force of the December 2017 Tax and Jobs Cuts Act.

For the year ended December 31, 2017, gross margin was 84% GAAP and 87% non-GAAP. In turn, operating profit was 20% GAAP and 32% non-GAAP. Both non-GAAP measures are shown excluding the effect of stock-related compensation expenses, amortization of acquired intangible assets, and expenses related to restructuring programs.

For the reporting period compared to the results of fiscal year 2016:

• Revenue from the sale of products and licenses decreased by 3%;
• Revenue from sales software as a service increased 31%;
• Revenue from license renewal and maintenance increased by 5%;
• Revenue from professional services including consulting, product training and certification remained flat;
• Net revenue increased in South and North America by 3% and increased in the Pacific by 7%;
• Subscription revenue as a percentage of total revenue was 11%.

Cash flows from continuing operations amounted to $964 million in fiscal 2017 against $947 million in fiscal 2016.

In total, Citrix Systems bought back 15.5 million of its shares during the year at an average price of $81.01 apiece.

Disruption of plans to privatize the company

In July 2017, it became known about the disruption of Citrix's plans to carry out privatization. The company did not find money for this, which indicates an emerging trend.

Bloomberg reports that Citrix has turned to specialists from investment bank Goldman Sachs Group to find potential buyers. Interest in the company is weak due to its high value and large business, which will force investment funds to pool their resources, which will complicate the deal, its sources told the publication. By August 1, 2017, Citrix's market capitalization is $12 billion.

According to Reuters, several private equity funds (including Bain,  Carlyle Group and Thomas Bravo) have considered acquiring Citrix, but have concluded that the leveraged buyout deal is unlikely to be easy and profitable. As a result, Citrix failed to become a private company.

Reuters draws attention to the development of a trend in which banks are still reluctant to finance transactions, where the buyback of a controlling stake in an expensive technology company occurs with the attraction of loans.

In confirming this trend, it became known that the manufacturers of corporate POVMS Software and CA Inc. stopped negotiations on the merger, as the companies recognized the inability to persuade banks to extend the term of debt financing by 1.5 years. That is how long, according to BMC management, it will take to close the transaction due to the alleged close interest in it from the antimonopoly authorities.

Citrix owners have previously been looking for buyers. That was in 2015, when the company came under pressure from hedge fund Elliott Management. As a result, Citrix separated from itself and sold part of the assets, as well as reduced staff and changed management.

If Citrix had carried out the planned privatization, then this deal, in which private investors acquire a public company, could have become the largest since the buyout of the manufacturer of hacking alert systems ADT Corp. by the Apollo Global Management fund in 2016, reports Bloomberg. ^[7]

David Henshell is the new CEO of Citrix

On July 10, 2017, Citrix announced the appointment of David Henshell as the new president and CEO instead of Kirill Tatarinov, a native of Russia, who had been in charge since January 2016. Read more here.

Citrix prepares for sale

American developer of software solutions for cloud computing, computer networks and virtualization Citrix Systems is looking for potential buyers, Bloomberg said in March, citing knowledgeable sources^[8]

Several investment funds reportedly explored the possibility of acquiring Citrix, but concluded that this would require leveraging, which would reduce the profits from the transaction. Nevertheless, one of the investors - Thomas Bravo - is still interested in acquiring Citrix.

According to media reports, the owners of Citrix, under pressure from investors, already wanted to sell the company about two years ago, but limited themselves to restructuring, changing management and selling part of the assets. In June 2015, the hedge fund Elliott Management, which at that time owned about 7.5% of Citrix's shares, announced the need to transform the company's business. In particular, the investor insisted on the sale or separation of some assets. A month later, Citrix announced the resignation of head Mark Templeton and the beginning of exploring opportunities for restructuring.

Product Strategy Overview

The company's target industries in the B2C segment are:

• Online store Building consumer-facing apps to increase customer retention and customer loyalty.
• Financial services Websites used for customer service and payment.
• Multimedia. Consumption of browser-based content and a consumer engagement app.
• Regular shops. In addition to web storefronts, apps are also being developed for consumers in stores.

Purchase of Unidesk

On January 18, 2017, Citrix announced the acquisition of Unidesk. As a result of this merger, Citrix customers and partners will be able to install and manage applications and desktops using XenApp and XenDesktop more easily and easily in secure mode.

2016

Profit growth of 68% after restructuring

On January 25, 2017, Citrix released its 2016 financial statement. The company increased profits by 68% after the restructuring.

According to data released by Citrix, in 2016, the company's revenue amounted to $3.42 billion, an increase of 4% compared to the previous year. Net profit rose from $319 million to $536 million.

The profit could have been higher if not for the $71 million spent on restructuring (including benefits for laid-off employees and office closure costs), as well as the $57 million that the company spent in connection with the sale of the GoTo online services division (these include the GoToMeeting Web Internet conference solution and the GoToMyPC remote access application). This business was bought by the manufacturer of  remote access software LogMeIn for $1.8 billion, the company's shareholders approved the deal on January 25, 2017.

Commenting on Citrix's financial results, Kirill Tatarinov, CEO of the company, noted that the high performance is demonstrated by the vendor's desire to increase focus and optimize management in accordance with market conditions.

We have made significant progress in promoting our vision, strategy and culture, while our profitability and core business are growing rapidly, the head said.

Citrix reports that in 2016, the company's revenue from sales of products and licenses reached $883.3 million against $875.9 million in 2015. The manufacturer's revenues in the Solutions SaaS market increased from $731.3 to $816.6 million. Revenues from license renewal and support services (includes regular payments to customers for subscriptions after purchasing licenses) amounted to almost $1.6 billion. Professional services (consulting, training and certification) brought the company almost $131.2 million.^[9]

Purchase of Norskale

In September 2016, it became known that Citrix was acquiring Norskale a private company working in the field of User Environment Management (UEM). Norskale is expected to improve the performance and scalability of market leading virtualizations applications and desktops solutions and. XenApp XenDesktop Norskale solution, which is called Workspace Environment Manager within XenApp and XenDesktop.

It is stated that the purchase of Norskale will allow Citrix to provide maximum speed and expand the capabilities of XenApp and XenDesktop users. For more details on the deal, see Norskale.

Kirill Tatarinov - new CEO

January 20, 2016 it was announced the appointment Kirill Tatarinov of the head of the fund producer. virtualizations Citrix He has experience of reorganization, Microsoft which should come in handy at a new place of work.

Kirill Tatarinov will officially become the new CEO and President of Citrix on January 25, 2016. Previously, these positions were temporarily held by Robert Calderoni, he will remain in the company in the role of executive chairman of the board.

2015

Robert Calderoni is the new CEO

On October 21, 2015, the manufacturer of virtualization systems, network solutions and application delivery technologies Citrix announced the appointment of Executive Chairman Robert Calderoni as President and CEO of the company.

Reduction of 10% of the staff and separation of part of the business

On November 17, 2015, Citrix announced the separation of part of the business to release solutions for organizing joint work and reducing jobs. Thus, the American company responded to calls for restructuring from investor Elliott Management.

According to Citrix, by the second half of 2016, the GoTo online services division, which include the GoToMeeting Web Internet conferencing solution and the GoToMyPC remote access application, will be spun off into a new public company. Her name is not specified. Sales of GoTo family products in the fiscal year closed on September 30, 2015 amounted to about $600 million.

At the same time, Citrix announced plans to restructure staff, optimize operations and resources, and focus on key corporate markets. To do this, the vendor is going to cut about 1000 workers, which corresponds to more than 10% of the total staff. Most of the dismissed employees will leave the company in November 2015 and January 2016. The liquidation of working positions is not related to the separation of the GoTo product line, Citrix explained.

"We simplify the business in all areas such as products, marketing, sales, operations and development," said interim Citrix CEO Bob Calderoni.

Due to the announced transformations, the company hopes to save about $200 million annually. However, first she will have to spend from $65 million to $85 million on benefits for reduced employees and other goals related to layoffs.

In June 2015, Elliott Management, a hedge fund known for buying securities from IT companies and then pressuring their management to increase the shareholder value of the business, called on Citrix to sell assets and cut costs. A month later, the software manufacturer announced the start of studying strategic options regarding the future work of the company.

Reuters, citing its sources, reported that Citrix management is in a hurry to sell the entire company instead of crushing it and selling it in parts. One of the likely buyers of the manufacturer of virtualization systems, network solutions and media application delivery technologies was called Dell. FBR Capital Markets analyst Daniel Ives believes that after the restructuring, Citrix may sell part of the business or the entire company.^[10]

New boss in Central and Eastern Europe

On March 26, 2015, Citrix Systems announced its appointment Dirk Pfefferl as Vice President for Central and Eastern. In To Europe early 2013, the regions of Central and Eastern Europe were merged into one.

2014: Revenue $3.14 billion, net income $252 million

• Annual revenue was $3.14 billion, up 8% from 2013.
• Net income (GAAP) was $252 million, down 26% from a year earlier ($340).
• Net income (non GAAP) was $565 million, down 3 million from a year earlier ($568 million).
• Operating cash flows amounted to $846 million (928 a year earlier).

Citrix announced it would lay off 900 employees in 2015 - 700 permanent workers and 200 fixed-term employees.

The key competencies of the company at this time are the construction of private and public "clouds" using network technologies and virtualization, as well as the creation of flexible and cost-effective services for working in a mobile style.

Among Citrix's clients, more than 330,000 companies, many of which are leaders in their industry, thus, more than 100 million specialists around the world are actively using Citrix solutions to achieve the necessary results in their daily activities. Citrix's collaboration with IT industry leaders makes mobile work and the benefits of cloud services available to every user anywhere, anytime, and on any device. The company's international partners include Alcatel-Lucent, Amazon Web Services, Cisco, CSC, Dell, Fujitsu, IBM, HP, Microsoft, NetApp, Samsung and Wipro.

2013: Revenue of $2.9 billion

Citrix's annual revenue in 2013 was $2.9 billion.

2012

According to Citrix management estimates, in fiscal year 2012: the company's income was supposed to be from $2.49 billion to $2.51 billion, diluted earnings per share - from $1.88 to $1.97 according to GAAP and from $2.70 to $2.74 non-GAAP. Including, in the first quarter of 2012, the company's planned revenue was expected in the range from $555 to $565 million.

2011: Revenue growth to $2.21 billion (+ 18  %)

As of June 2011, Citrix's virtualization, networking, and cloud solutions are used by approximately 230,000 enterprise users. Citrix solutions are responsible for delivering more than 100 million corporate desktops. About 75% of Internet users use these technologies daily. Citrix has more than 10,000 partners in 100 countries and about 6,000 employees worldwide.

The company's annual revenue in fiscal year 2011 amounted to $2.21 billion, showing an 18% increase compared to $1.87 billion for the same period last year. Net income for 2011 was $357 million, or $1.87 diluted earnings per share, compared to $277 million, or $1.46 diluted earnings per share, in the previous year. Non-GAAP annual net income in 2011 was $473 million, or $2.48 diluted earnings per share, versus $396 million, or $2.08 diluted earnings per share in 2010.

In turn, compared to the results of 2010 in 2011: revenues from product licensing increased by 20%; revenue from license upgrades increased by 9%; online services showed an increase of 19%; income from technical services, including counseling, education and technical support, increased by 36%; income in the Americas increased by 19%, in the EMEA region - by 11%, and in the Pacific region - by 33%.

Operating income margins for the fiscal year, calculated by GAAP and non-GAAP, were 19% and 26%, respectively. The volume of cash in 2011 amounted to $679 million ($616 million in 2010). In total, for the reporting year, the company bought 6.5 million shares at an average price of $67.84 apiece.

2010

Revenue for the year $1.87 billion

In 2010, the company's income amounted to $1.87 billion. At this time, Citrix is working with more than ten thousand partners in 100 countries around the world. The number of customers around the world amounted to about 230 thousand. In Russia and the CIS, Citrix's partner network is more than 200 partners and four distributors. The number of customers in this region approached 2.6 thousand. In the fourth quarter of last year, Citrix's revenue amounted to $530 million. That is, it grew by 17% compared to 2009 ($451 million). Net profit in the fourth quarter of 2010 amounted to $94 million (in 2009 this figure was $88 million). Income in 2010 - $1.87 billion. Compared to 2009, when income was $1.61 billion, there is an increase of 16%. Net profit in 2010 - $277 million. In 2009, it amounted to $191 million.

Q2 Results

In the second quarter of fiscal year 2010, Citrix's revenue amounted to $458 million, which is 17% more than in the same period in 2009, which amounted to $393 million. GAAP results. Net income for the second quarter of 2010 was $48 million, or $0.25 diluted earnings per share, compared to $43 million, or $0.23 diluted earnings per share, in the second quarter of 2009. Net income for the second quarter of 2010 includes approximately $13 million in income tax expenses, or $0.07 diluted earnings per share, spent to settle agreements reached with the Internal Revenue Service regarding transfer pricing issues, as previously announced.

The results of the second quarter of 2010 compared to the second quarter of 2009:

• Revenue from product licensing rose 15%;
• Revenues from license renewal increased by 13%;
• Online services showed an increase of 18%;
• Income from technical services, including counseling, education and technical support, increased by 35%;
• Income in the Americas increased by 17%, in the EMEA region by 11%, and in the Pacific region by 31%;
• Deferred income amounted to $686 million, compared to $538 million received by the company as of June 30, 2009;
• Operating margin for the GAAP quarter was 16%. Non-GAAP operating margin for the quarter was 26%, excluding amortization effects of intangible assets primarily attributable to the amortization of companies, share consideration expense and company restructuring program expense in 2009;
• Other revenues decreased by 83% primarily due to losses on the recalculation of non-dollar balance sheets of financial statements;
• Cash was $103 million compared to $86 million for the second quarter of 2009;
• 2.2 million shares were redeemed at an average price of $46.74 per share, or $101 million.

2008: Revenue growth 14% to $1.58 billion

The company's revenues for 2008 amounted to $1.58 billion, 14% higher than the same figure in 2007 in the amount of $1.39 billion. Citrix Systems' fiscal year is the same as the calendar year. Net profit for 2008 was $178 million. For comparison, in the previous year, net profit was $214 million.

Non-GAAP annual net income in 2008 was $304 million, compared to $299 million in 2007. Non-GAAP net income excludes amortization effects of intangible assets, primarily related to the amortization of companies, share consideration expenses, write-offs of amounts from pending engineering (IPR&D) accounts, and tax effects related to these items. In addition, non-GAAP net income for 2008 excludes non-cash benefits related to payroll tax amendments in the fourth quarter of fiscal 2008.

Notes