Citrix Q3 profit rises 9%

Fri. October 23, 2009; Posted: 05:09 AM

Oct 23, 2009 (Datamonitor via COMTEX) -- CTXS | Quote | Chart | News | PowerRating -- Citrix Systems has reported a 9% increase in net income to $53.42m for the third quarter 2009, compared to a net income of $49.14m in the year-ago quarter. Revenue increased 0.5% to $401.04m.

Operating income grew 18% to $56.1m, while diluted EPS increased 11% to $0.29. The company generated cash flow from operations of $134m and repurchased 2.1 million shares at an average price of $35.56.

The company said product license revenue fell 18% to $129.06m, while license updates revenue grew 7% to $151.04m. Online services revenue grew 21% to $78.87m, while technical services revenue grew 20% to $42.06m. Geographically, Pacific revenue fell 9%, Americas revenue increased 5%, EMEA revenue declined 15%, and Pacific revenue declined 5%.

For the nine-month period, Citrix reported a 13% decline in net income to $102.86m compared to a net income of $106.8m a year ago. Revenue remained almost flat at $1.16 billion.

Mark Templeton, president and chief executive at Citrix, said: "I am pleased with our solid third quarter results. Our sales, product and operational teams executed very well in a tough economic climate to not only post good results, but to strengthen Citrix leadership in the web collaboration, desktop virtualization and datacenter transformation markets."

Looking ahead, for the fourth quarter, the company expects revenue to increase 3% to 4% and non-GAAP operating margin to increase 50 to 100 basis points. For fiscal 2009, it expects revenue to increase modestly as compared to 2008 and non-GAAP operating margin to increase by as much as 100 basis points.

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For full details on Citrix Systems Inc (CTXS) click here. Citrix Systems Inc (CTXS) has Short Term PowerRatings of 5. Details on Citrix Systems Inc (CTXS) Short Term PowerRatings is available at This Link.

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