Citrix Systems has reported financial results for the second quarter of fiscal year 2014, ended 30 June 2014, with revenue of $782-million, compared to $730-million in the second quarter of fiscal year 2013 – a 7% revenue growth.Net GAAP income for the second quarter of fiscal year 2014 was $53-million, or $0,31 per diluted share, compared to $64-million, or $0,34 per diluted share, for the second quarter of fiscal year 2013.
The current quarter GAAP results include impairment charges of approximately $30-million related to certain intangible assets within our Enterprise and Service Provider division, which are included in amortization of product related intangible assets, as well as a restructuring charge of approximately $5-million for severance costs incurred to better align resources to strategic initiatives.
In addition, GAAP net income for the second quarter of fiscal year 2014 includes net tax benefits of approximately $9-million, or $0.05 per diluted share, primarily related to the closing of audits with the IRS for certain tax years.
Non-GAAP net income for the second quarter of fiscal year 2014 was $142-million, or $0.83 per diluted share, compared to $124-million, or $0.66 per diluted share, for the second quarter of fiscal year 2013.
Non-GAAP net income excludes the effects of amortization of acquired intangible assets and debt discount, stock-based compensation expenses, the restructuring program implemented in the first quarter of fiscal year 2014 and the tax effects related to these items.
Non-GAAP net income for the second quarter of fiscal year 2014 includes net tax benefits of approximately $9-million, or $0.05 per diluted share, primarily related to the closing of audits with the IRS for certain tax years.
“I’m pleased with our performance and results for Q2,” says Mark Templeton, president and CEO at Citrix. “I’m really proud of how our team delivered greater operating efficiencies while driving our very significant pivot to mobility. As
we move into the second half, we’ll continue to refine operations to further increase shareholder value and to stay aggressive with valuable solutions for our customers’ mobility needs.
“And, on a personal level, I’m excited to be back, energized, and looking forward to the future here at Citrix.”
In reviewing the results for the second quarter of fiscal year 2014, compared to the second quarter of fiscal year 2013:
* Product and license revenue increased 2%;
* Software as a service revenue increased 12%;
* Revenue from license updates and maintenance increased 7%;
* Professional services revenue, which is comprised of consulting, product training and certification, increased 15%;
* Revenue increased in the EMEA and Pacific regions by 8%; and increased in the Americas region by 4%;
* Deferred revenue totalled $1,4-billion as of June 30, 2014, compared to $1,3-billion as of June 30, 2013, an increase of 12%; and
* Cash flow from operations was $204-million for the second quarter of fiscal year 2014, compared with $209-million for the second quarter of fiscal year 2013.
