Boston, MA 01/31/2014 (wallstreetpr) – Citrix Systems, Inc. (NASDAQ:CTXS) posted favorable Q4 earnings that surpassed analysts’ estimates of $0.98 to record $1.04 earnings per share. The only downside lay on the fact that its revenue was slightly lower compared to analysts’ expectations of $805.39, its revenue stood at $802 million for the quarter. This is a massive improvement when compared with the same quarter a year ago which resulted in earnings per share of $0.90. Citrix Systems revenue was also an increase of 8.4% compared to the same quarter a year ago.
Citrix Systems, Inc. (NASDAQ:CTXS) in its guidance call for 2014 expects revenue growth of between the margins of 8-10% for both the first quarter of 2014 and the entire year. This represents a low compared to consensus estimates of 10.9-11.3% growth. The company also projects EPS guidance ranges of between $0.57 -$0.60 and $2.85-$2.95. Just like what other tech companies are experiencing in the market, Citrix systems has been facing weak spot of sales in the Asia Pacific regions with sells dropping by a high of 12% on a year over year basis for Q4. It sales receives in a major boost in America which essentially increased by 14%.
Citrix Systems, Inc. (NASDAQ:CTXS) deferred revenue balance rose by a high of 18% for Y/Y in 2013 to a high of $1.4 billion. The company opted to spend $225 million on buybacks In Q4, This helped it beat EPS estimates despite a slight revenue miss. The company Non-GAAP net income stood at $195 million or $1.04 per share a drop compared to the same quarter a year ago of $169 million. As result of the report on earnings analysts at Deutsche Bank resorted to downgrading Citrix shares from buy rating to hold rating. The price target has been set at $60.00 down from a high of $75.
