NEW YORK (TheStreet) -- Cloud and networking specialist Citrix Systems (CTXS) reported weaker-than-expected fourth-quarter earnings on Wednesday, sending share sliding in after-hours trading. After sinking 1.9% over the session, shares tumbled a further 4.5% after the bell to $55.01.
For its year-ending quarter, the company recorded net income of $1.04 a share and $802 million in revenue, a 16% and 8.4% year-over-year jump, respectively. Earnings beat expectations by 6 cents a share, while revenue came in as expected, according to analysts polled by Thomson Reuters.
By segment, software-as-a-service revenue increased 13%, license updates and maintenance income jumped 11%, and professional services sales (including consulting, training and certification) soared 28%.
Over fiscal 2013, sales totaled $2.92 billion, 13% higher than a year earlier, while net income was $3.02 a share. Analysts expected 2013 EPS of $2.96 on $2.92 billion in revenue.
For the current quarter ending March 31, revenue is expected to range from $726.7 million to $740.2 million, falling short a forecast $746.41 million. Per-share earnings are anticipated between 57 cents to 60 cents, nine cents short of consensus.
For 2014, management said net revenue should increase between 8% and 10%, compared to analyst estimates of 11.4% growth. Excluding one-time charges, earnings are expected to range from $2.85 to $2.95 a share, far below the $3.35 previously expected by analysts.
The Fort Lauderdale-based business also announced Mark Templeton will be returning from a leave of absence and resuming his post as CEO for at least a year until a successor is. Interim CEO David Henshall will act as chief operating officer, retaining some of the responsibilities he assumed during his temporary gig as chief executive.