Citrix 3Q profit increases on higher online, license-update revenue

Wednesday, October 21, 2009

Citrix 3Q profit rises on higher online revenue

FORT LAUDERDALE, Fla. — Citrix Systems Inc., which provides software and equipment for streamlining computer systems, said Wednesday its third-quarter profit rose 9 percent with increased revenue from license updates and online services.

Net income of $53.4 million, or 29 cents per share, was up from $49.1 million, or 26 cents per share, in the same quarter last year.

The Fort Lauderdale company said adjusted income for the third quarters of 2009 and last year excluded amortization of intangible assets related primarily to business combinations, stock-based compensation expenses and related tax effects. Net income for both quarters was $80 million, or 43 cents per share.

Analysts surveyed by Thomson Reuters expected earnings of 41 cents per share. Analysts typically exclude one-time charges.

Revenue for the quarter ended Sept. 30 was $401 million, up a half-percent from $398.9 million in the year-ago quarter.

Citrix said it expects revenue for the fourth quarter ending Dec. 31 to rise 3 percent to 4 percent over last year’s fourth quarter. Revenue would be between $428.2 million and $432.3 million.

Analysts expect fourth-quarter revenue to be $430.5 million, according to Thomson Reuters.

Citrix was not specific in its guidance for the full year, saying it expects net revenue to increase modestly over 2008 when it posted revenue of $1.6 billion.

In July, the company said it expected revenue to be flat over 2008.

Shares in Citrix fell $1.79, or 4.3 percent, to $39.57 in after-hours trading. The stock fell 25 cents, to $41.36 in the regular session.

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