Wednesday October 18 4:56 PM ET
Citrix Net Drops to $27.5 Million
FORT LAUDERDALE, Fla. (Reuters) - Specialty software maker Citrix
Systems Inc. (NasdaqNM:CTXS - news), whose high-flying shares were
knocked to ground last summer by profits disappointments, on Wednesday
said quarterly net income before extraordinaries fell to $27.5 million from
$34.2 million.
Net income, including amortization of intangible assets and research and
development write-offs, was $21.6 million for the third quarter, or 11 cents a
share, as compared with net income of $29.3 million, or 15 cents, for the
1999 quarter.
Share profits before the extraordinaries were 14 cents a diluted share,
compared to 18 cents.
Analysts had forecast share profits of 12 cents, according to First
Call/Thomson Financial.
Revenues rose 7 percent to $113.5 million and were slightly above consensus analysts forecasts of $112.45
million. Revenues were $105.8 million in the same three months during 1999.
Fort Lauderdale, Fla.-based Citrix, a leader in the booming sector of application-server software, said in July a
shift by customers to electronic purchases of its products was coming faster than anticipated and was a drag on
sales increases. Second-quarter net income fell by a third from a year earlier. |
