Citrix conference call thoughts. Well, I don't have time to let you know all my thoughts, but off the top of my head....
yes, $0.21 was a pleasant surprise. though someone already mentioned higher A/R. In fact, DSO was 59 days, which management mentioned. That's not too bad. But what mgt. didn't mention was the fact it was only 42 days in Q4.
But if I heard correctly, deferred revenue increased 28%/140% sequential/Yearoveryear, which is great.
Operating margin fell as mgt expected. and they expect 2 more qtrs to drop. operating margin = 38.9% down from 42.5% Q4. although it's almost unheard of for a big software company to have 42.5% margins, even a software licensing type of company.
No discussion of the GOJO lawsuit(s).
Did anyone figure out what Cloudware is? Is it like software for Loudcloud? The marc andressen-backed Loudcloud will be a thunder of an ASP IPO.
And as for one of you guys using a discounted cash flow model, I agree with Mike that 6% discount rate is too low. I use 10.3%, which is somewhat arbitrary, but more realistic, and such a rate differential will have a tremendous impact on the price.
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