Nice Quarter for Citrix

Earnings and revenue top estimates.
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Earnings and revenue blew past estimates in

Citrix Systems'

(CTXS) - Get Report

first quarter, and the on-demand technology company guided up for the current quarter and year.

Citrix earned $260 million, or 24 cents a share, in the quarter, compared with $39 million, or 22 cents a share, last year. Adjusted for amortization and other items, Citrix earned $61 million, or 33 cents a share, in the latest quarter. On that basis, analysts were looking for 28 cents a share.

First-quarter sales rose 29% to $260 million, topping the Thomson First Call consensus by almost $12 million. Product license revenue rose to $114.2 million from $90.2 million, while online services revenue was $31.6 million, compared with $20.4 million. Technical services revenue was $20.3 million, up from $14.3 million.

Citrix said its operating margin was 20% in the quarter, while pro forma operating margin was 28%. The company generated $95 million in cash flow from operations in the period, up from $73 million a year ago.

For the current quarter, Citrix expects to earn 32 cents or 33 cents a share before items on revenue of $259 million to $265 million. Analysts were forecasting 29 cents a share and $255.7 million. For the year, Citrix sees earnings before items of $1.33 to $1.37 a share on sales of $1.07 billion to $1.09 billion. Analysts were forecasting $1.28 a share and $1.065 billion.

The stock added 91 cents, or 2.3%, to $39.79 after hours.