Citrix Systems has reported results for the fourth quarter and financial year ending 31 December 2003.
Revenues for the three months ending 31 December 2003 were $157.7m (£86m), compared with $148.8m in the same period of the previous year.
Net income was $36.3m for the fourth quarter of 2003 compared with $39.6m in same period the previous year. Net income, adjusted to exclude the effect of amortization of intangible assets primarily related to business combinations, was $38.1m for the fourth quarter of 2003.
Annual revenues for 2003 were $588.6m, compared with $527.4m in the previous year. Annual net income in 2003 was $126.9m compared with a net income of $93.9m in 2002.
Annual net income, adjusted to exclude the effect of amortisation of intangible assets primarily related to business combinations, was $134.2m in 2003, compared with $100.8m in 2002.
“It was a solid quarter to end a very strong year,” says Mark Templeton, president and chief executive officer of Citrix.
“In 2003 we saw tremendous growth in larger purchases, in our subscription advantage programme and in deferred revenue, as our customers made larger and longer-term commitments to Citrix. In addition, we executed well, improving our end of year operating margin by 6.5% to 26.2%.
“We will continue to invest in expanding our product portfolio, to grow in emerging countries, and to scale the organisation - both people and infrastructure - so that we can execute on our strategy of making Citrix synonymous with access,” he said.
Written by Computing SA staff