Annual revenue growth of 23pc for Citrix

24 Jan 2008

Citrix Systems achieved revenues of US$400m in the fourth quarter of 2007, the company has announced, up from US$321m on the previous year.

Annual revenues for 2007 were US$1.39bn, a 23pc increase on 2006 revenues of US$1.13bn.

Net income for the fourth quarter of 2007 was US$63m, amounting to US$0.33 per diluted share, compared with US$53m for Q4 of 2006, which came out at US$0.29 per diluted share.

Annual net income for 2007 was US$214m, or US$1.14 per diluted share, compared with US$183m, or US$0.97 per diluted share in fiscal year 2006.

In Q4 of 2007, product license revenue increased 24pc, revenue from license updates grew 19pc, online services contributed US$59m of revenue, representing an increase of 37pc, and technical services revenue, which is comprised of consulting, education and technical support, grew 28pc.

In addition to quarterly and year-end financial results, Citrix also announced its board of directors has authorised it to repurchase up to an additional US$300m of its common stock. As of December 31, 2007, approximately US$33m remained in authority from previous approvals. The total amount authorised, pursuant to the company’s ongoing stock repurchase programme, is US$1.8b, including the current authorisation. The company plans to buy shares on the open market and through its structured repurchase programmes from time to time, depending on market conditions.
“What a great quarter to cap off an outstanding year,” commented Mark Templeton, president and CEO of Citrix. “For the year, we saw very strong revenue growth, good EPS growth and real traction in product licensing.”

For 2008, Citrix management expects to achieve net revenue in the range of US$1.615b to US$1.645bn, with GAAP diluted earnings per share in the range of US$0.85 to US$0.87.

By Niall Byrne