================================================================================
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
--------------------
FORM 8-K
--------------------
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
March 4, 2005
Date of Report (Date of earliest event reported)
CITRIX SYSTEMS, INC.
(Exact Name of Registrant as Specified in Charter)
Delaware 0-27084 75-2275152
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
851 West Cypress Creek Road
Fort Lauderdale, Florida 33309
(Address of Principal Executive Offices) (Zip Code)
(954) 267-3000
(Registrant's Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
================================================================================
Item 4.02. Non-Reliance on Previously Issued Financial Statements or a Related
Audit Report or Completed Interim Review.
(a) As a result of a normal periodic review of the financial reports of
Citrix Systems, Inc. (the "Company") by the staff of the Securities and Exchange
Commission, the Company reviewed the presentation of cash and investments on its
balance sheet. The Company concluded that collateral pledged under the Company's
synthetic lease, credit default contracts and interest rate swaps should be
presented as restricted cash equivalents and investments.
After discussions among the Audit Committee of the Board of Directors
of the Company, management and Ernst & Young LLP, the Company's independent
registered public accounting firm, the Company determined on March 4, 2005 that
it will restate its consolidated balance sheets and cash flow statements for
fiscal years 2002 and 2003 and for the first three quarters of 2004 to correct
the presentation of cash and investments on the Company's balance sheet and to
reflect certain reclassifications. Today the Company will file its restated
consolidated balance sheets and cash flow statements in an amended Annual Report
on Form 10-K for the year ended December 31, 2003 and in amended Quarterly
Reports on Form 10-Q for the first three quarters of fiscal 2004.
Section 7 -- Regulation FD
Item 7.01. Regulation FD Disclosure.
On March 7, 2005, the Company issued a press release relating to the
matters described herein, a copy of which is attached hereto and furnished
herewith as Exhibit 99.1.
The information in this Current Report, including the information in
Item 4.02(a) above, shall not be incorporated by reference in any filing under
the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934,
as amended, except as expressly set forth by specific reference in such filing.
Section 9 -- Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits.
(c) Exhibits.
Exhibit No. Description
----------- -----------
99.1 Press release, dated March 7, 2005, of Citrix Systems, Inc.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CITRIX SYSTEMS, INC.
Dated: March 7, 2005
By: /s/ David J. Henshall
------------------------------------------
David J. Henshall
Vice President and Chief Financial Officer
EXHIBIT INDEX
Exhibit No. Description
----------- -----------
99.1 Press release, dated March 7, 2005, of Citrix Systems, Inc.