Citrix Posts 15% Rise in Q4 Profit, Traders Selling Amid Lackluster Outlook
Citrix Systems (NASDAQ: CTXS) shares are down about five percent in after hours trading Wednesday as the company reported its quarterly results.
The networking specialist reported fourth-quarter adjusted EPS of $1.04 versus the Street estimate of $2.96.
Revenue was $802 million, a 16 percent quarter-over-quarter and 8.4 percent year-over-year jump, respectively, over fiscal 2013. By distribution, software-as-a-service revenue increased 13%, license updates and maintenance income jumped 11%, and professional services sales (including consulting, training and certification) soared 28%. Analysts were expecting $2.92 billion in sales.
Net income was $3.02 a share, versus the analysts estimate $2.96 per share.
For 2014, the company stated net revenue should increase between 8 and 10 percent. Earnings are expected to range from $2.85 to $2.95 a share, well below the $3.35 previously expected by analysts.
The technology giant also announced that Mark Templeton would be returning from a leave of absence and resuming his post as CEO for at least a year until a successor is determined. Interim CEO David Henshall will act as chief operating officer in the mean time, retaining some of the responsibilities he assumed during his temporary gig as chief executive.
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