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Citrix Systems Profit Tops Estimate; Details Strong FY Outlook; Stock Up 8%

Citrix Systems Inc. (CTXS: Quote) Wednesday reported fourth-quarter net income of $114 million or $0.60 per share, compared with $109 million or $0.58 per share last year.

Excluding items, adjusted earnings for the quarter were $169 million or $0.90 per share, compared with $147 million or $0.78 per share a year ago.

Revenues for the quarter were higher by 19% at $740 million, compared with $619 million a year ago.

Analysts polled by Thomson Reuters estimated earnings of $0.84 per share on revenues of $705.73 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the first quarter, the company expects net earnings of $0.31 to $0.33 per share, adjusted earnings of $0.62 to $0.63 per share, and revenues of $670 million to $680 million.

Analysts currently expect earnings of $0.67 per share on revenues of $670.72 million for the first quarter.

For the full year 2013, the company expects net earnings of $1.91 to $1.95 per share, adjusted earnings of $3.12 to $3.15 per share, and revenues of $2.95 billion to $2.98 billion.

Analysts currently expect earnings of $3.14 per share on revenues of $2.91 billion for the full year 2013.

Citrix Systems Inc. develops technology solutions to deliver IT services on-demand.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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