Citrix records €63m profit in third quarter 2010

22 Oct 2010

Citrix has reported a profit of around €63m in its third-quarter financial report.

The virtualisation and infrastructure software company released its results today. The $88m (€63m) profit, or $0.46 (€0.43) per diluted share and the cumulative profit, compared to $53m (€38m), or $0.29 (€.30) per diluted share, for the third quarter of 2009.

Cisco achieved revenue of $472m (€338m) for the nine-month ended compared to $401m (€288m) in the third quarter of 2009.

Mark Templeton, president and chief executive officer for Citrix, accredited the consumerisation of IT and the added promise of cloud computing as the driving force behind Citrix’s performance.

“I’m proud of our Q3 performance, and the excellent strategic, operating and financial results we’ve delivered this year,” said Templeton.

“It is clear we are at the intersection of three powerful market forces – the transformation of IT to an on-demand service; the consumerisation of IT in the enterprise; and, the promise of cloud services. These trends are driving a need for virtual computing, making Citrix and our platform more relevant and strategic.”

The report also states that Citrix’s product licence revenue grew to 18pc, revenue from licence updates grew 15pc and online service revenue grew 16pc.

Cash flow from operations was recorded at $190m (€136m), compared to $134m (€96m) in the previous year while deferred revenue totalled $680m (€487m) compared with $556m (€399m) in 2009.

And revenue estimates are positive for the fourth fiscal quarter, with Citrix expecting to net $500 (€359m) – $510m (€365m). Interest income is expected to be in the range of $3m (€2.1m) – $4m (€2.8m)  while the company’s preliminary financial outlook for the full fiscal year 2011 is for net revenue to be in the range of $2.04bn (€1.5bn) to $2.07 billion.

For a full list of the third quarterly results, click here.

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