Citrix Systems Inc CTXS
Q1 2013 Earnings Call Transcript

Transcript Call Date 04/24/2013

Operator: Good afternoon. My name is Jared, and I'll be your conference facilitator today. At this time, I would like to welcome everyone to the Citrix Systems First Quarter 2013 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer period. Thank you.

I would now like to introduce Mr. Eduardo Fleites, Vice President of Investor Relations. Mr. Fleites, you may begin your conference.

Eduardo Fleites - VP, IR: Thank you, Jared. Good afternoon, everyone, and thank you for joining us for today's first quarter 2013 earnings presentation. Participating on the call will be Mark Templeton, President and Chief Executive Officer; and David Henshall, Executive Vice President, Operations and Chief Financial Officer. This call is being webcast on Citrix Systems' Investor Relations website. The webcast will be posted immediately following the call.

Before we begin, I want to state that we have posted product specification and historical revenue trends related to our product groupings to our Investor Relations website. I'd like to remind you that today's conversation will contain forward-looking statements made under the Safe Harbor provision of the U.S. Securities laws. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Obviously, these risks could cause actual results to differ from those anticipated.

Additional information concerning these and other factors is highlighted in today's press release and in the Company's filings with the SEC. Copies are available from the SEC or on the Company's Investor Relations website.

Furthermore, we will discuss various non-GAAP financial measures as defined by SEC's Reg G. A reconciliation of the differences between GAAP and non-GAAP financial measures discussed on today's call can be found at the end of today's press release and on the Investor Relations page of our website.

Now, I would like to turn it over to David Henshall, our Executive Vice President, Operations and Chief Financial Officer. David?

David J. Henshall - EVP of Operations, CFO and Treasurer: Thanks, Eduardo and welcome to everyone joining us today. As you can see from the release, Q1 results included $673 million in total revenue, up 14%. 25% year-on-year growth in deferred revenue, $249 million in cash flow from ops, and adjusted EPS of $0.62 a share.

In Q1 we closed 41 transactions greater than $1 million each, with relative strength coming from businesses in the technology, healthcare and financial services sectors. Strategically important to us is the fact that more than 25% of these orders included multiple products continuing to demonstrate the value that customers see in the integrated solutions that we can deliver.

Geographically Q1 demand patterns were uneven across all of our markets with business in the Americas geo, generally solid throughout the quarter, leading to revenue growth of 17% from last year. However, internationally, performance at the regional level was impacted by a number different market forces resulted in delays, in closing identified opportunities. In total, EMEA posted a revenue increase of 9%, while Pacific and Japan region was up 15% from year ago.

Read our Earnings Call Transcript disclaimer.
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