BancBoston Robertson Stephens Raises Estimates on Citrix Systems, Inc.
SAN FRANCISCO, Jan. 20 /PRNewswire/ -- The following is being issued by
BancBoston Robertson Stephens, a member of the National Association of
Securities Dealers, CRD number 41271:
BancBoston Robertson Stephens managing director and senior communications
analyst John F. Powers today reiterated his Buy rating and raised estimates on
Citrix Systems, Inc. (NASDAQ:CTXS). Citrix Systems, headquartered in Fort
Lauderdale, Fla., is the leader in developing, marketing and selling
distributed Windows technology, which allows one server to support many
clients at the same time.
The company announced that total revenues for the fourth quarter grew
sequentially by 12 percent to $75.5 million, an increase of 76 percent over
the previous year's quarter.
"Based on strong fourth quarter results, we are raising our fiscal year
1999 earnings estimates for Citrix from $2.27 to $2.35 per share," said
Powers. "In 1999, we believe Citrix will continue to achieve annual revenue
growth of over 50 percent, based on the enormous market opportunity.
"Fourth quarter results show improved performance in a number of key
areas:
1. significant growth of its MetaFrame product, which contributed to
almost 34 percent of total revenues this quarter, and Options, which
contributed 32 percent of total revenues.
2. strong international sales, as Citrix continues to build its overseas
infrastructure, accounting for 41 percent of total revenues, up from 30
percent in the previous quarter.
3. increased adoption of Independent Computing Architecture technology,
with 11 new licensing agreements with partners like Compaq, Motorola and
Intergraph.
4. increased gross and operating margins due to higher margin MetaFrame
sales and lower R&D spending," said Powers.
Clients interested in receiving more information should contact their
salesperson at 415-781-9700.
BancBoston Robertson Stephens is a leading international investment
banking firm focused on emerging growth companies. The firm's 55 senior
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available upon request.
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material fact respecting any company, industry or security. Although opinions
and estimates expressed herein reflect the current judgment of BancBoston
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SOURCE BancBoston Robertson Stephens
-0- 01/20/99
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