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Technology Stocks : Citrix Systems (CTXS) -- Ignore unavailable to you. Want to Upgrade?

To: jhg_in_kc who wrote (7748)	3/31/2000 6:43:00 PM
From: puborectalis	Read Replies (1) \| Respond to of 9068

Citrix Systems shares bloodied by sales worries By Michael Connor MIAMI, March 31 (Reuters) - Software group Citrix Systems Inc. (NasdaqNM:CTXS - news), its shares battered by a sell-off in technology issues, was bloodied again on Friday by fears new sales methods may have hurt quarterly results. But the fast-growing provider of specialty software, based in Fort Lauderdale, Fla., said its new direct sales force focused on big clients accounted for just 2 percent of total turnover in last year's fourth quarter. ``That's not very big,' said Citrix spokesman Jeff Lilly, who declined to discuss the Citrix stock drop. Resellers and computer systems integrators remain the main avenues for selling Citrix software, he said. Shares of Citrix, which had been as high as 122-5/16 during March, closed down 5-7/8 at 66-1/4 on Friday on heavy volume of 11.09 million, or more than three times typical daily turnover. On Monday, Citrix finished at nearly 102. ``The fear is that the Citrix shift to a more direct sales mix would subject it to more back-loaded sales each quarter. That makes no sense,' said analyst Peter Ausnit of Prudential Securities. Brown Brothers Harriman & Co. analyst Sanjiv Hingorani said he had no doubts Citrix had made its sales and profits numbers for the quarter ended on Friday. ``I believe the quarter will be in line with analysts expectations,' Hingorani said. Both Ausnit and Hingorani were forecasting Citrix would report quarterly share profits of 20 cents, or a penny above the consensus prediction reported by First Call/Thomson Financial. Citrix will report first-quarter results on April 19, Lilly said. Hingorani said he expected Citrix to earn 86 cents a share for all of 2000 and $1.05 during 2001. Citrix on Thursday announced an alliance with IBM (NYSE:IBM - news) that analysts said would help the company dominate the quickly growing segment for providing application services.