Citrix Raises 2016 Guidance, Quarterly Results Top Expectations
April 20 2016 - 4:59PM
Dow Jones News
By Tess Stynes
Citrix Systems Inc. (CTXS) raised its 2016 guidance as the
software maker reported better than-expected results for the first
quarter.
The Santa Clara, Calif., company's shares rose 5.7% to $85.10 in
after-hours trading.
For 2016, Citrix raised its adjusted per-share earnings estimate
to $4.90 to $5.00 on revenue of $3.34 billion to $3.36 billion. It
previously estimated an adjusted per-share profit of $4.65 to $4.75
and revenue of $3.31 billion to $3.32 billion.
For the current quarter, Citrix forecasted adjusted per-share
earnings of $1.12 to $1.15 and revenue of $810 million to $820
million. Analysts polled by Thomson Reuters expected adjusted
per-share profit of $1.11 and revenue of $814 million.
Over all for its latest quarter, Citrix reported a profit of
$83.5 million, or 54 cents a share, up from $28.9 million, or 18
cents a share, a year earlier. Excluding stock-based compensation,
spinoff-related expenses, restructuring charges and other items,
per-share adjusted earnings rose to $1.18 from 65 cents. Revenue
increased 8.5% to $825.7 million.
The company expected adjusted per-share profit of 91 cents to 93
cents and revenue of $785 million to $790 million.
Chief Executive Kirill Tatarinov, a former Microsoft Corp.
executive, took the helm at Citrix in late January. He succeeds
Mark Templeton, whose retirement was announced in July along with a
series of leadership and potential structural changes after
pressure from activist investor Elliott Management Corp.
Citrix makes workplace software that allows employees to work
from their own desktops or mobile devices off a centralized data
center, which is known as virtualization. The company last year
unveiled plans to spin off its GoTo business as a separate publicly
traded company. The GoTo business includes the GoTo Meeting
software that allows users to connect to business meetings from
many devices.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
April 20, 2016 17:44 ET (21:44 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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