Citrix Reports Second Quarter Earnings Results.Citrix Reports Second Quarter Earnings ResultsYear-over-year Quarterly Revenue Growth of 17%GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). Diluted Earnings Per Share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of of $0.18Non-GAAP Diluted Earnings Per Share of $0.38 Citrix Systems Citrix Systems' (NASDAQ: CTXS) is an American technology company, based in Fort Lauderdale, Florida, with subsidiary operations in California and Massachusetts, with additional development centers in Australia, India and the UK. , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CTXS CTXS Citrix Systems (NASDAQ stock ticker symbol) ), the global leader in Application Delivery Infrastructure, recently reported financial results for the second quarter of fiscal 2008 ended June 30, 2008.FINANCIAL RESULTSIn the second quarter of fiscal 2008, Citrix achieved revenue of $392 million, compared to $334 million in the second quarter of fiscal 2007, representing 17 percent revenue growth. GAAP ResultsNet income for the second quarter of fiscal 2008 was $35 million, or $0.18 per diluted share, compared to $53 million, or $0.29 per diluted share, for the second quarter of 2007. Non-GAAP ResultsNon-GAAP net income in the second quarter of 2008 increased two percent to $71 million, or $0.38 per diluted share, compared to $70 million, or $0.38 per diluted share, in the comparable period last year. Non-GAAP net income excludes the effects of amortization of intangible assets primarily related to business combinations, stock-based compensation expenses and the tax effects related to those items."I'm delighted with another solid quarter," said Mark Templeton Mark Templeton (b. 1975) is Principal Trombone of the London Philharmonic Orchestra. Mark studied at the Guildhall School of Music and Drama 1994-1998 with Eric Crees, Simon Wills and Peter Gane. During this time he became principal of the Gustav Mahler Youth Orchestra. , president and chief executive officer of Citrix. "We saw double digit revenue growth in each of our geographic segments, and we achieved our non-GAAP EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. targets. Overall a great quarter in a tough macro-economic environment."Q2 Financial HighlightsIn reviewing the second quarter results of 2008, compared to the second quarter of 2007:* Product license revenue increased 12 percent; * Revenue from license updates grew 16 percent; * Online services increased 23 percent; * Technical services revenue, which is comprised of consulting, education and technical support, grew 34 percent; * Revenue grew in the EMEA (Europe, Middle East, Africa) Refers to that region of the world. For example, one might see products packaged differently for the UK, EMEA and Asia Pacific markets. region by 22 percent; the America's region by 13 percent, and the Pacific region by 11 percent; * Deferred revenue totaled $476 million, compared to $395 million on June 30, 2007; * Operating margin Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: was seven percent for the quarter; non-GAAP operating margin was 21 percent for the quarter, excluding the effects of amortization of intangible assets primarily related to business combinations and stock-based compensation expense; * Cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses was $75 million, bringing the total 12 month trailing cash flow from operations to $379 million; and, * Repurchased shares for the quarter were 2.1 million shares at an average price paid per share of $33.50.Financial Outlook for Third Quarter 2008Citrix management expects to achieve the following results during its third fiscal quarter of 2008 ending September 30, 2008:* Net revenue is expected to be in the range of $385 million to $400 million, compared to $350 million in the third quarter of 2007; * GAAP diluted earnings per share is expected to be in the range of $0.12 to $0.16. Non-GAAP diluted earnings per share is expected to be in the range of $0.36 to $0.39, excluding $0.09 related to the effects of amortization of intangible assets primarily related to business combinations and $0.14 to $0.15 related to the effects of stock-based compensation expenses. The above statements are based on current expectations. These statements are forward-looking, and actual results may differ materially. Financial Outlook for Fiscal Year 2008Citrix management expects to achieve the following results for the fiscal year 2008:* The company expects net revenue to be in the range of $1.59 billion to $1.62 billion. * The company expects GAAP diluted earnings per share to be in the range of $0.57 to $0.64. Non-GAAP diluted earnings per share to be in the range of $1.54 to $1.60, excluding $0.34 related to the effects of the amortization of intangible assets and $0.62 to $0.63 related to the effects of stock-based compensation expenses.The above statements are based on current expectations. These statements are forward-looking, and actual results may differ materially.Company, Product and Alliance HighlightsDuring the second quarter of 2008, Citrix announced:* Citrix[R] XenDesktop(tm) 2.0 began shipping; * Citrix[R] NetScaler[R] MPX MPX - Multiplexor Channel , which reduces datacenter costs by delivering twice as many Web applications; * A new Citrix Access Gateway(tm) release adding intelligent policy-based controls for Citrix XenDesktop; * Citrix[R] XenServer(tm) is now factory integrated on Dell PowerEdge servers; * A new Citrix XenServer pricing model allowing unlimited virtual machines per server at a single low price; and, * Microsoft honored the company with its 2008 Microsoft Partner of the Year Global ISV (Independent Software Vendor) A person or company that develops software. It implies an organization that specializes in software only and is not part of a computer systems or hardware manufacturer. - Infrastructure and 2008 Microsoft Partner for Citizenship awards; [c] 2008 Al Bawaba (www.albawaba.com) |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion