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Citrix Revises Outlook Due To Accelerated Share Repurchase Program

Citrix Systems, Inc. (NASDAQ:CTXS) today announced revised profitability guidance for the second quarter of fiscal year 2014 and the full fiscal year 2014 following its previously announced offering of $1.4 billion principal amount of convertible senior notes due 2019, inclusive of the over-allotment option, and ongoing accelerated share repurchase.

“We were very pleased with the results of the convertible offering and the ongoing accelerated share repurchase,” said David Henshall, chief operating officer and chief financial officer for Citrix.

"Over the past few years, we have consistently re-purchased shares to drive shareholder value. With the current market financing environment, the timing was right to go even further with a significant accelerated share repurchase program, funded by this convertible note offering.”

Financial Outlook for Second Quarter 2014

For the second quarter of fiscal year 2014 ending June 30, 2014, GAAP diluted earnings per share is targeted to be in the range of $0.18 to $0.20. Non-GAAP diluted earnings per share is targeted to be in the range of $0.59 to $0.61, excluding $0.20 related to the effects of amortization of acquired intangible assets, $0.30 related to the effects of stock-based compensation expenses, $0.03 related to the effects of amortization of debt discount, $0.03 related to the effects of restructuring charges, and $(0.13) to $(0.17) for the tax effects related to these items.

Financial Outlook for Fiscal Year 2014

For the fiscal year ending December 31, 2014, GAAP diluted earnings per share is targeted to be in the range of $1.60 to $1.65. Non-GAAP diluted earnings per share is targeted to be in the range of $3.07 to $3.12, excluding $0.81 related to the effects of amortization of acquired intangible assets, $1.10 related to the effects of stock-based compensation expenses, $0.12 related to the effects of amortization of debt discount, $0.09 related to the effects of restructuring charges, and $(0.60) to $(0.70) for the tax effects related to these items.

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