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Citrix reports fourth quarter and fiscal year financial results |
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Virtualization and remote access software company Citrix reported financial results for the fourth quarter and fiscal year ended December 31, 2009. In the fourth quarter of fiscal 2009, Citrix achieved revenue of $451 million, compared to $416 million in the fourth quarter of fiscal 2008, representing 9 percent revenue growth. For the fiscal year 2009, Citrix reported annual revenues of $1.61 billion, compared to $1.58 billion in the previous year, a 2 percent increase. Net income for the fourth quarter was $88 million or $0.47 per diluted share, as against $60 million or $0.33 per diluted share in the same quarter in fiscal 2008. Annual net income for 2009 was $191 million or $1.03 per diluted share, as compared to $178 million or $0.96 per diluted share in fiscal 2008. Mark Templeton, president and CEO for Citrix said he was pleased with the results despite the uncertain market conditions. He said the fourth quarter saw “a lot of interest in desktop virtualization,” and going forward Citrix would focus on CIOs looking for ways to simplify and drive costs out of enterprise computing and help them bring “desktop virtualization to the mainstream, broadening the reach of web collaboration, and powering public and private clouds.” Comparing the fourth quarter results of 2009 with the same quarter of 2008, Citrix's product license revenue increased 4 percent, revenue from license updates grew 6 percent, and online services revenue jumped 18 percent. Technical services revenue, comprising consulting, education and technical support, grew 20 percent. Deferred revenue totaled $619 million, as compared to $533 million on December 31, 2008, while operating margin was 17 percent for the quarter. Cash flow from operations was $178 million, as compared with $166 million in the fourth quarter of 2008. Citrix repurchased two million shares at an average net price of $38.54 per share. Comparing the annual financial results for 2009 against the financial results of 2008, product license revenue decreased 13 percent, revenue from license updates grew 8 percent, and online services revenue grew 19 percent. Technical services revenue grew 13 percent. Operating margin was 11 percent for fiscal 2009. Cash flow from operations was $484 million for fiscal 2009 compared with $462 million last year, and fiscal 2009 saw Citrix repurchase 6.5 million shares at an average net price per share of $33.23. Financial Outlook for First Quarter 2010 Citrix said it expects to achieve the following results during its first fiscal quarter 2010 ending March 31, 2010: Net revenue is expected to be in the range of $405 million to $410 million; Interest income is expected to be $3 million to $4 million; and GAAP diluted earnings per share is expected to be in the range of $0.23 to $0.25. Financial Outlook for Fiscal Year 2010 Citrix management expects to achieve the following results during its fiscal year 2010 ending December 31, 2010: Net revenue is expected to be in the range of $1.74 billion to $1.76 billion; Interest income is expected to be $16 million to $19 million; and GAAP diluted earnings per share is expected to be in the range of $1.33 to $1.34. |
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