Citrix Revenues Up 20 Percent for Q3

Cloud and virtualization stalwart turns up a winning third quarter.

Virtualization and cloud systems purveyor Citrix Systems posted revenues of $565 million for the third quarter of fiscal 2011 on Thursday, a jump of 20 percent from $472 million for the same quarter last year.

Citrix (NASDAQ: CTXS) reported non-GAAP net income of $121 million, equal to diluted earnings per share (EPS) of $0.64 for the quarter. That's in contrast to $118 million or $0.62 diluted EPS in the year-ago period, according to the company.

"We have strong positions across SaaS and collaboration, virtualization and desktop, networking and cloud platform markets," Mark Templeton, Citrix CEO and president, said in a statement. Overall, he described it as "a great quarter."

During the quarter, the company grew license revenues by 28 percent as well as growing license updates by 7 percent. Additionally, online services revenues increased by 20 percent and technical services revenues were up 37 percent, which included consulting, education, and technical support, the company said.

Meanwhile, non-GAAP operating margins were 26 percent for the quarter.

Last month, Citrix acquired cloud-based storage provider ShareFile, while Wednesday the company announced it is acquiring AppDNA, a maker of application migration and management software. Also during the third quarter, Citrix finalized the purchases of c loud.com, a provider of software infrastructure for clouds, and RingCube, which supplies personalization software for users' virtual desktops.

For the fourth quarter, Citrix said it is on track to bring in revenues of between $610 million and $620 million, with non-GAAP EPS of approximately $0.75 to $0.76, excluding charges for acquisitions, stock-based compensation costs, and taxes of about $0.37.

For the entire year, the company is targeting gross revenues between $2.2 billion and $2.21 billion, while Citrix's guidance for fiscal 2012 is in the range of $2.47 billion to $2.48 billion, the statement said.

Investors seemed to be happy with the company's results. Near the close of the markets Thursday, Citrix stock was up nearly 17 percent or $10.81 at $75.46 per share.

 

Stuart J. Johnston is a contributing editor at InternetNews.com, the news service of Internet.com, the network for technology professionals. Follow him on Twitter @stuartj1000.




Tags: Citrix


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