Revenues up 22pc at Citrix

24 Apr 2008

Citrix reported first-quarter revenue of US$377m, a 22pc increase from US$308m in Q107.

GAAP net income for the quarter was US$34m, or US$0.18 per diluted share, compared to US$38m, or US$0.20 per diluted share, for Q107.

However, non-GAAP net income for the first quarter increased 16pc to US$66m or US$0.35 per diluted share, compared to US$57m or US$0.31 per diluted share in Q107. Non-GAAP net income excludes the effects of amortisation of intangible assets primarily related to business combinations, stock-based compensation expenses, the write-off of in-process R&D and the tax effects related to those items.

During the quarter, product licence revenue increased 20pc, while revenue from licence updates grew 19pc. Online services contributed US$62m of revenue, an increase of 31pc, while technical services revenue, which is comprised of consulting, education and technical support, grew 31pc.

Growth was strong in the EMEA region at 31pc; the Pacific region grew by 28pc and the Americas by 13pc.

Cash flow from operations was US$107m for the quarter.

Citrix expects net revenue in the range of US$380m to US$390m for Q207, compared to US$334m in the second quarter of 2007. GAAP diluted earnings per share is expected to be in the range of US$0.16 to US$0.20.

The company expects net revenue for 2008 to be in the range of US$1.6bn to US$1.645bn, and GAAP diluted earnings per share to be in the range of US$0.78 to US$0.89. Non-GAAP diluted earnings per share are expected to be in the range of US$1.54 to US$1.64.

During Q108, Citrix expanded its alliance with Microsoft to deliver desktop virtualisation solutions and develop interoperability between Citrix XenServer and both Windows Server 2008 and Microsoft System Centre. It also entered into agreements with HP, NetApp and Lenovo.

“I’m delighted with another great quarter of growth,” commented Mark Templeton, president and chief executive officer for Citrix. “Our focus and investments in building a more global footprint, product line breadth and business model diversity is serving us well.”

By Niall Byrne