Citrix Systems Posts Third-Quarter Revenue Below July Projection

   By Josh Beckerman 
 

Citrix Systems Inc. (CTXS) reported third-quarter revenue below its projection, but earnings excluding items exceeded the guidance it provided in July.

After "clearly mixed" results for the latest period, Citrix is projecting year revenue below Wall Street estimates.

In late trading, Citrix shares were down 5% to $61.52.

Citrix, which specializes in virtualization, networking and cloud infrastructure, has benefited from increased demand for desktop visualization, a crucial step in cloud computing.

Citrix said Monday that it purchased RightSignature, which enables Citrix to extend its ShareFile product line to include electronic signatures.

The company expects earnings excluding items for the full year of $3.22 to $3.25 a share and revenue of $3.13 billion to $3.14 billion. Analysts polled by Thomson Reuters project earnings of $3.24 a share on revenue of $3.185 million.

For the period ended Sept. 30, Citrix reported a profit of $47.5 million, or 29 cents a share, down from $76.7 million, or 41 cents a share, a year ago. Excluding stock-based compensation expenses and other items, per-share earnings rose to 75 cents from 70 cents.

Revenue rose 6% to $759 million.

Citrix had projected adjusted earnings of 70 cents to 73 cents on revenue of $765 million to $775 million.

Write to Josh Beckerman at [e-mail]

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