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Citrix 2Q Net Surges 72% On Across-The-Board Revenue Growth

DOW JONES NEWSWIRES Citrix Systems Inc.'s (CTXS) second-quarter profit surged 72% as the virtualization and infrastructure software company reported across-the-board revenue growth, led by online and technical services, while margins jumped. Shares fell 6.1% to $66.60 in after-hours trading, as the per-share outlook for the current quarter narrowly missed Wall Street's expectations. The company forecast adjusted third-quarter earnings of 56 cents to 58 cents a share on revenue of $540 million to $547 million. Analysts surveyed by Thomson Reuters expected 61 cents and $543 million, respectively. For the year, Citrix now sees revenue of $2.16 billion to $2.19 billion, up from the April view of $2.14 billion to $2.17 billion. The company affirmed its adjusted earnings target. Citrix's desktop-solutions business--which includes XenApp and XenDesktop--has seen its growth rate accelerate the last few quarters due to the increasing importance of desktop virtualization. The company has used sales promotions to keep active customers or upgrade inactive clients, and has had success selling multi-product deals. Citrix, which improves computer efficiency by allowing multiple systems to operate on one computer, reported earnings of $81.9 million, or 43 cents a share, up from $47.6 million, or 25 cents a share, a year earlier. Excluding stock-based compensation and other impacts, earnings grew to 57 cents from 41 cents as revenue grew 16% to $530.8 million. In April, Citrix forecast earnings of 54 cents to 55 cents on revenue of $515 million to $525 million. Operating margin grew to 18% from 16.1%. Revenue from product licenses, or new product purchases, climbed 15%, while license updates, which includes annuity revenue from subscription paid when new licenses are purchased, increased 9.1%. Sales at the online services and technical services segments were up 19% and 33%, respectively. -By John Kell, Dow Jones Newswires; 212-416-2480;

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