Citrix Systems has announced plans to cut approximately 10% of its global workforce as part of a restructuring program to reduce its annual operating expenses.
It also reported a 4% decline in net income to $60.1m for the fourth quarter 2008, compared to $62.76m in the year-ago quarter, on revenue up 4% at $415.69m.
Operating income during the quarter grew 28% to $63.12m, while diluted EPS remained flat at $0.26. Cash flow from operations was $166m compared to $113m in the same period last year. It repurchased 2.2 million shares at an average share price of $25.89.
The company said product license revenue fell 9% to $162.26m, while license updates revenue grew 13% to $146.87m. Online services revenue grew 18% to $69.44m, while technical services revenue grew 13% to $37.11m. Geographically, Pacific revenue fell 6%, while Americas revenue grew 3% and EMEA region revenue grew 2%.