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TheStreet Open House

Citrix Reports Third Quarter Financial Results

Stocks in this article: CTXS

Citrix Systems, Inc. (NASDAQ:CTXS) today reported financial results for the third quarter of fiscal year 2013 ended September 30, 2013.

FINANCIAL RESULTS

For the third quarter of fiscal year 2013, Citrix achieved revenue of $713 million, compared to $641 million in the third quarter of fiscal year 2012, representing 11 percent revenue growth.

GAAP Results

Net income for the third quarter of fiscal year 2013 was $77 million, or $0.41 per diluted share, compared to $78 million, or $0.41 per diluted share, for the third quarter of fiscal year 2012.

Non-GAAP Results

Non-GAAP net income for the third quarter of fiscal year 2013 was $132 million, or $0.70 per diluted share, compared to $128 million, or $0.68 per diluted share, for the third quarter of fiscal year 2012. Non-GAAP net income excludes the effects of amortization of acquired intangible assets, stock-based compensation expenses and the tax effects related to these items.

In addition to quarterly financial results, Citrix also announced that its Board of Directors has authorized it to repurchase up to an additional $500 million of its common stock. As of September 30, 2013, approximately $179 million remained for repurchases from previous authorizations.

“A number of factors influenced our results for the third quarter,” said David Henshall, acting chief executive officer for Citrix. “In addition to an uneven spending environment, we saw some customers delay buying decisions while they evaluate our newly released platforms in the desktop and mobile business.

“However, we are very encouraged by the strong interest in our solutions as evidenced by a record pipeline for these opportunities. Enterprise mobility and cloud services represent an accelerating transformation in the workplace, and we are uniquely positioned to help our customers change the way they work, the devices and apps they use, and the way services are delivered.”

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