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Citrix Systems Slash Q3 Outlook, Offers No Reason for Downbeat Guidance

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Shares of Citrix Systems Inc. (NASDAQ: CTXS) tumbled about 13% in aftermarket hours on Wednesday after the enterprise software maker cut its guidance on fiscal third quarter’s sales and earnings. The Company did not provide any reason for the downward revision of third quarter results.

For the third quarter, The Fort Lauderdale, Florida based company expects adjusted earnings to be in the range of 68 cents to 69 cents a share on sales of $710 million to $712 million. Earlier in July, Citrix Systems projected earnings to come in the range of 72 cents to 73 cents a share on sales of $730 million to $740 million, which was below analysts’ expectation, at that moment.

Commenting over the downbeat revenue and earnings projections, Citrix Systems Inc.’s President and Chief Executive, Mark Templeton, said, “(The Company) was disappointed that we fell short of our expectations.” The Company said that it will provide details about why earnings and sales decline during the next conference call, which is scheduled on Oct. 23.

Citrix Systems, which develops software that allow multiple systems to operate under one computer, has been posting double digit quarterly revenue growth for more than three years.

Citrix’s revised revenue outlook for the third quarter suggests it would still post double-digit percentage growth in sales from a year ago period.

 








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Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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