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Financial Results 3rd Quarter FY 2003

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Title: Financial Results 3rd Quarter FY 2003


1
Financial Results 3rd Quarter FY 2003
  • Mark Templeton
  • President CEO
  • David Henshall
  • Vice President, Finance CFO

2
Use of Non-GAAP Financial Measures
  • This presentation contains non-GAAP financial
    measures as defined by SEC Regulation G. These
    non-GAAP financial measures should not be
    construed as superior to GAAP financial measures.
    The GAAP financial measure most directly
    comparable to each non-GAAP financial measure
    used or discussed in this presentation and a
    reconciliation of the differences between each
    non-GAAP financial measure and the comparable
    GAAP financial measure can be found on the
    Investor Relations page of the Citrix corporate
    website at www.citrix.com/investors.

http//www.citrix.com/site/resources/content/inves
torsGlossary/GAAPrecon.pdf
3
Safe Harbor Provisions
  • Forward-looking statements in this presentation
    are made pursuant to the safe harbor provisions
    of Section 21E of the Securities Exchange Act of
    1934. Investors are cautioned that statements
    during this conference call, which are not
    strictly historical statements, including,
    without limitation, statements by management, the
    statements regarding business outlook and in the
    reconciliation of non-GAAP measures to comparable
    U.S. GAAP measures concerning managements
    forecast of revenue and earnings per share,
    statements regarding the companys existing and
    new products, demand and pipeline growth, the
    potential size of product markets, and statements
    concerning internal operations, marketing,
    managements plans, objectives and strategies,
    and management's assessment of market factors,
    constitute forward-looking statements. Such
    forward-looking statements are subject to a
    number of risks and uncertainties that could
    cause actual results to differ materially from
    those anticipated by the forward-looking
    statements, including, without limitation,
    success of the companys product lines the
    company's product concentration and its ability
    to develop and commercialize new products and
    services the success in investments in foreign
    operations and markets the success in
    acquisitions the company's success in expanding
    into new geographic and vertical markets the
    company's ability to maintain and expand its core
    business in large enterprise accounts the size,
    timing and recognition of revenue from
    significant orders and other revenue recognition
    changes, including increases in deferred revenue
    the Companys reliance on and the success of the
    Companys independent distributors and resellers
    for the marketing and distribution of its
    products increased competition, including
    potential competition from Microsoft and other
    companies changes in the company's pricing
    policies or those of its competitors management
    of operations and operating expenses charges in
    the event of the impairment of assets acquired
    through business combinations and licenses the
    management of anticipated future growth and the
    recruitment and retention of qualified employees
    as well as risks of downturns in economic
    conditions generally political and social
    turmoil and the uncertainty in and the effects
    of a weak IT spending environment which has
    impacted the overall demand for software and
    related services and other risks detailed in the
    company's filings with the Securities and
    Exchange Commission. Citrix assumes no obligation
    to update any forward-looking statements or
    announcements made herein.

4
Q3 Financial Results
  • Total Revenue of 144.3 million
  • Deferred revenue increased 16 million compared
    to last quarter
  • Net Income of 31.0 million or 0.18 per share
  • Compares to 16.8 million or 0.10 last year
  • Adjusted Net Income of 32.8 million or 0.19 per
    share
  • Adjusted EPS up 94 over last year

5
Take-aways From Todays Report
  • Strong Q3 financial results
  • In-line or better-than-expected
  • Continued strength with medium and large
    customers
  • Good progress with next-generation partnerships
  • Microsoft, IBM, SAP, and HP
  • Now Available the MetaFrame Access Suite
  • Delivered additional product MetaFrame Password
    Manager
  • Focused on growing the Access Infrastructure
    Market

6
Financials
  • David Henshall
  • Vice President, Finance CFO

7
Revenue Mix Comparisons
Some amounts may not add due to rounding
8
Geographical Revenue Mix
9
Top Enterprise Deals
  • 5 deals gt 1 million 3 last quarter
  • 8 deals gt 500K same number last quarter
  • 6 of top 10 deals in North America

10
Q303 Income Statement (In Millions)
Results exclude amortization of intangibles
11
Balance Sheet Summary
  • September 30, 2003
  • Cash equivalents 264.5 million
  • Short-term Investments 250.6 million
  • Long-term Investments 295.6 million
  • Total Cash Investments 810.7 million
  • Cash Flow from Operations 73 million
  • Convertible Subordinated Debt 346.9 million
  • Accounts receivable, net 85.6 million
  • Days Sales Outstanding 53 days
  • Deferred Revenue (Total) 144.6 million

12
Deferred Revenue
145M
13
Stock Repurchase Program
Note In May 2003, the Citrix Board authorized
an additional 200M for the stock repurchase
program.
Some amounts may not add due to rounding
14
Q3 Customer Operational Highlights
15
Q3 Customer Highlights
  • Highlights
  • Kaiser Permanente
  • ABN AMRO Real
  • Naval Sea Systems Command
  • Cerner Corporation
  • Top five deals over 1M
  • Five of top ten deals reorders five new orders
  • Customer standardization on Citrix Access
    Infrastructure

16
Now Available Citrix MetaFrame Access Suite
Any Application
Remote Server
Installed Anywhere
MetaFrame Password Manager
ERP
  • MetaFrame Password Manager
  • Simplifies end user computing
  • Increases network security
  • Reduces help desk costs
  • MetaFrame Access Suite Licensing

CRM
Custom
Tokens, Smart Cards, Biometrics
Local Desktop
Web
Host
17
The Citrix Brand Means
18
The Citrix Brand
19
CIO Advertising Campaign
20
Citrix iForum 2003
  • Over 2,500 attendees
  • 29 customer-led breakout sessions
  • Customer Keynote from ScotiaBank
  • Keynotes and Announcements from SAP, HP, IBM, and
    Microsoft
  • Video appearance by Steve Ballmer
  • Awarded Microsofts Global ISV Partner of the Year

21
Challenge Connecting Worlds of Complexity
22
Challenge Connecting Worlds of Complexity
23
Business Outlook Guidance
24
Forward-looking Guidance
  • Q4 2003 Guidance
  • Revenue 147M - 157M
  • Operating Expenses Increase of 5M - 8M
  • EPS 0.17 - 0.19
  • Adjusted EPS 0.18 - 0.20
  • Tax Rate 23
  • FY 2003 Guidance
  • Revenue 577 - 587 million
  • EPS 0.70 - 0.72
  • Adjusted EPS 0.74 - 0.76

Results exclude amortization of intangibles
25
Summary Questions
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