Citrix profit slips, revenue up

SEATTLE: Business software maker Citrix Systems Inc. posted a lower quarterly profit from acquisition-related and debt retirement costs, as revenue grew 12.4 percent.

Net income for the first quarter ended March 31 was $9.3 million, or 5 cents a share, compared with $30.3 million, or 18 cents a share, a year earlier.

Excluding the impact of an $18.7 million charge related to the acquisition of Expertcity and a $7.2 million charge on the redemption of convertible debt, Citrix said it had a profit of $32.8 million, or 19 cents per share in the first quarter.

Analysts had expected, on average, for Citrix to post a per-share profit of 18 cents excluding charges, according to forecasts compiled by Reuters Research, a unit of Reuters Group Plc.

Revenue was $161.3 million, up from $143.5 million a year earlier, according to the Fort Lauderdale, Florida-based company, which makes software for enabling remote network connections.

Shares in Citrix fell to $20.60 from their Nasdaq closing level of $21.68, however, after the company issued a profit outlook slightly below Wall Street expectations.

Citrix's management said it expects revenue to be between $170 million and $180 million for the second quarter, with a net profit of 14 cents to 16 cents per share. Excluding amortization and other charges, Citrix said it expects a per-share profit of 16 cents to 18 cents in the second quarter ending June 30.

Analysts on Wednesday were forecasting, on average, a profit of 19 cents, excluding charges, for the second quarter, on revenue of $160 million.

© Reuters