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Citrix Systems Inc (CTXS) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

SEC Filings

CTXS Annual Reports

Citrix Systems Inc

CIK: 877890 Ticker: CTXS

Exhibit 99.1

 

For media inquiries, contact:

Karen Master, Citrix Systems, Inc.

(216) 396-4683 or karen.master@citrix.com

For investor inquiries, contact:

Traci Tsuchiguchi, Citrix Systems, Inc.

(408) 790-8467 or traci.tsuchiguchi@citrix.com

Citrix Reports Fourth Quarter and Fiscal Year 2021 Financial Results

FORT LAUDERDALE, Fla.—January 31, 2022

—Citrix Systems, Inc. (NASDAQ:CTXS) today reported financial results for the fourth quarter and fiscal year ended December 31, 2021.

Financial Results

For the fourth quarter of fiscal year 2021, Citrix achieved revenue of $851 million, compared to $810 million in the fourth quarter of fiscal year 2020, representing 5 percent revenue growth. For fiscal year 2021, Citrix reported annual revenue of $3.22 billion, compared to $3.24 billion for fiscal year 2020, a 1 percent decrease.

GAAP Results

Net income for the fourth quarter of fiscal year 2021 was $103 million, or $0.81 per diluted share, compared to $112 million, or $0.89 per diluted share, for the fourth quarter of fiscal year 2020. Net income for the fourth quarter of fiscal year 2021 includes restructuring charges of $103 million for severance and facility closing costs and a $120 million income tax benefit related to the finalization of transitional tax relief in accordance with the enactment of federal tax reform in Switzerland.

Annual net income for fiscal year 2021 was $307 million, or $2.44 per diluted share, compared to $504 million, or $4.00 per diluted share for fiscal year 2020. Net income for fiscal years 2021 and 2020 includes restructuring charges of $103 million and $12 million, respectively, for severance and facility closing costs. Net income for fiscal 2021 also includes an income tax benefit of $120M for transitional tax relief in Switzerland.

Non-GAAP Results (1)

Non-GAAP net income for the fourth quarter of fiscal year 2021 was $186 million, or $1.47 per diluted share, compared to $183 million, or $1.46 per diluted share for the fourth quarter of fiscal year 2020. Non-GAAP net income for the fourth quarter of fiscal years 2021 and 2020 excludes the effects of stock-based compensation expense, amortization and impairment of acquired intangible assets, restructuring charges and the tax effects related to these items. Non-GAAP net income for the fourth quarter of fiscal year 2021 also excludes the impacts from transitional tax relief in Switzerland.

Annual non-GAAP net income for fiscal year 2021 was $673 million, or $5.33 per diluted share, compared to $769 million, or $6.10 per diluted share for fiscal year 2020. Annual non-GAAP net income for fiscal years 2021 and 2020 excludes the effects of stock-based compensation expense, amortization and impairment of acquired intangible assets, restructuring charges, and the tax effects related to these items. Annual non-GAAP net income for fiscal year 2021 also excludes acquisition-related costs and the impacts from transitional tax relief in Switzerland.

 

(1)

A reconciliation of GAAP to non-GAAP measures has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading “Reconciliation of Non-GAAP Financial Measures to Comparable U.S. GAAP Measures.”


The following information was filed by Citrix Systems Inc (CTXS) on Monday, January 31, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Citrix Systems Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Equity
Consolidated Statements Of Income
Accrued Expenses And Other Current Liabilities
Accrued Expenses And Other Current Liabilities (Schedule Of Accrued Expenses And Other Current Liabilities) (Details)
Accrued Expenses And Other Current Liabilities (Tables)
Acquisition (Tables)
Acquisitions
Acquisitions (Identifiable Intangible Assets) (Details)
Acquisitions (Narrative) (Details)
Acquisitions (Pro-Forma Information) (Details)
Acquisitions (Purchase Accounting) (Details)
Background And Organization
Background And Organization (Details)
Capital Stock
Capital Stock (Narrative) (Details)
Capital Stock (Tables)
Commitments And Contingencies
Commitments And Contingencies (Narrative) (Details)
Comprehensive Income
Comprehensive Income (Changes In Accumulated Other Comprehensive Loss By Component) (Details)
Comprehensive Income (Reclassifications Out Of Accumulated Other Comprehensive Loss) (Details)
Comprehensive Income (Tables)
Credit Losses
Credit Losses (Accounts Receivable, Net) (Details)
Credit Losses (Afs Investments) (Details)
Credit Losses (Allowance For Credit Losses) (Details)
Credit Losses (Concentration Risk) (Details)
Credit Losses (Tables)
Debt
Debt (Components Of Long-Term Debt) (Details)
Debt (Narrative) (Details)
Debt (Tables)
Derivative Financial Instruments
Derivative Financial Instruments (Narrative) (Details)
Derivative Financial Instruments (Schedule Of Effect Of Derivative Instruments On Financial Performance) (Details)
Derivative Financial Instruments (Schedule Of Net Notional Foreign Currency Forward Contracts Outstanding) (Details)
Derivative Financial Instruments (Schedule Of The Fair Values Of Derivative Instruments) (Details)
Derivative Financial Instruments (Tables)
Earnings Per Share
Earnings Per Share (Net Income Per Share Basic And Diluted) (Details)
Earnings Per Share (Tables)
Employee Stock-Based Compensation And Benefit Plans
Employee Stock-Based Compensation And Benefit Plans (Assumptions Used To Value Option Grants) (Details)
Employee Stock-Based Compensation And Benefit Plans (Detail Of The Total Stock-Based Compensation Recognized By Income Statement Classification) (Details)
Employee Stock-Based Compensation And Benefit Plans (Narrative) (Details)
Employee Stock-Based Compensation And Benefit Plans (Schedule Of Non-Vested Stock Unit Activity) (Details)
Employee Stock-Based Compensation And Benefit Plans (Stock Option Activity In Connection With Acquisition) (Details)
Employee Stock-Based Compensation And Benefit Plans (Tables)
Income Taxes
Income Taxes (Components Of Deferred Tax Assets And Liabilities) (Details)
Income Taxes (Components Of The Provision For Income Taxes) (Details)
Income Taxes (Deferred Tax Assets And Liabilities By Balance Sheet Classification (Details)
Income Taxes (Narrative) (Details)
Income Taxes (Reconciliation Of The Beginning And Ending Amount Of Unrecognized Tax Benefits) (Details)
Income Taxes (Reconciliation Of The Company's Effective Tax Rate To The Statutory Federal Rate) (Details)
Income Taxes (Tables)
Income Taxes (United States And Foreign Components Of Income Before Income Taxes) (Details)
Investments And Fair Value Measurements
Investments And Fair Value Measurements (Additional Disclosures Regarding Fair Value Measurements) (Details)
Investments And Fair Value Measurements (Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details)
Investments And Fair Value Measurements (Investments) (Details)
Investments And Fair Value Measurements (Tables)
Leases
Leases (Lease Cost) (Details)
Leases (Lease Term And Discount Rate) (Details)
Leases (Maturities Of Lease Liabilities) (Details)
Leases (Supplemental Balance Sheet Information) (Details)
Leases (Supplemental Cash Flow Information) (Details)
Leases (Tables)
Restructuring
Restructuring (Activity In Restructuring Accruals) (Details)
Restructuring (Narrative) (Details)
Restructuring (Restructuring Charges) (Details)
Restructuring (Tables)
Revenue
Revenue (Details)
Revenue (Narrative) (Details)
Revenue (Remaining Performance Obligations Revenue) (Details)
Revenue (Tables)
Segment Information
Segment Information (Identifiable Assets By Segment) (Details)
Segment Information (Narrative) (Details)
Segment Information (Revenues By Geographic Location) (Details)
Segment Information (Revenues By Product Grouping) (Details)
Segment Information (Subscription Revenues) (Details)
Segment Information (Tables)
Significant Accounting Policies
Significant Accounting Policies (Changes In Goodwill) (Details)
Significant Accounting Policies (Estimated Future Annual Amortization Expense Of Intangible Assets) (Details)
Significant Accounting Policies (Intangible Assets) (Details)
Significant Accounting Policies (Narrative) (Details)
Significant Accounting Policies (Policies)
Significant Accounting Policies (Property And Equipment) (Details)
Significant Accounting Policies (Tables)
Subsequent Events
Subsequent Events (Details)
Valuation And Qualifying Accounts
Valuation And Qualifying Accounts (Details)
Ticker: CTXS
CIK: 877890
Form Type: 10-K Annual Report
Accession Number: 0000877890-22-000019
Submitted to the SEC: Wed Feb 16 2022 3:28:34 PM EST
Accepted by the SEC: Wed Feb 16 2022
Period: Friday, December 31, 2021
Industry: Prepackaged Software

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