Citrix beats Street 4Q forecasts

FORT LAUDERDALE, Fla. (AP) _ Citrix Systems Inc. (CTXS) on Wednesday reported fourth-quarter net income of $199.9 million.

The Fort Lauderdale, Florida-based company said it had net income of $1.26 per share. Earnings, adjusted for stock option expense and amortization costs, were $1.61 per share.

The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.

The cloud computing company posted revenue of $908.4 million in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $898.8 million.

For the year, the company reported profit of $536.1 million, or $3.41 per share. Revenue was reported as $3.42 billion.

For the current quarter ending in April, Citrix expects its per-share earnings to range from 93 cents to 95 cents. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.22.

The company said it expects revenue in the range of $655 million to $665 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $845.6 million.

Citrix expects full-year earnings in the range of $4.60 to $4.65 per share, with revenue ranging from $2.81 billion to $2.84 billion.

Citrix shares have risen 7 percent since the beginning of the year, while the Standard & Poor's 500 index has increased roughly 3 percent. In the final minutes of trading on Wednesday, shares hit $95.74, a rise of 45 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CTXS at https://www.zacks.com/ap/CTXS

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Keywords: Citrix Systems, Earnings Report