This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Citrix Reports First Quarter Financial Results

Citrix Systems, Inc. (NASDAQ:CTXS) today reported financial results for the first quarter of fiscal year 2014 ended March 31, 2014.

FINANCIAL RESULTS

For the first quarter of fiscal year 2014, Citrix achieved revenue of $751 million, compared to $673 million in the first quarter of fiscal year 2013, representing 12 percent revenue growth.

GAAP Results

Net income for the first quarter of fiscal year 2014 was $56 million, or $0.30 per diluted share, compared to $60 million, or $0.32 per diluted share, for the first quarter of fiscal year 2013. The current quarter GAAP results include a restructuring charge of approximately $10 million for severance costs incurred to better align resources to strategic initiatives. Net income for the first quarter of fiscal year 2013 includes net tax benefits of approximately $9 million, or $0.05 per diluted share.

Non-GAAP Results

Non-GAAP net income for the first quarter of fiscal year 2014 was $119 million, or $0.64 per diluted share, compared to $117 million, or $0.62 per diluted share, for the first quarter of fiscal year 2013. Non-GAAP net income for the first quarter of fiscal year 2013 includes net tax benefits of approximately $9 million, or $0.05 per diluted share. 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, non-GAAP net income for the first quarter of fiscal year 2014 also excludes the effect of the restructuring program implemented in the first quarter of fiscal year 2014.

In addition to quarterly financial results, Citrix also announced that its Board of Directors has authorized it to repurchase up to an additional $1.5 billion of its common stock. As of March 31, 2014, approximately $429 million remained for repurchases from previous authorizations.

“Our customers are looking for ways to embrace mobility, the cloud, IT consumerization and BYOD,” said Mark Templeton, CEO for Citrix. “Those needs are right in our sweet spot. As a leading provider in infrastructure and cloud services, we are uniquely positioned to help our customers deliver secure, managed, mobile workspaces.”

1 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,654.77 +369.26 2.27%
S&P 500 1,987.66 +47.15 2.43%
NASDAQ 4,812.7080 +115.1720 2.45%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs