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Technology / Networks

Citrix registers 20% revenue growth in Q3

Virtual computing offerings provider Citrix Systems achieved revenue of $565m, compared to $472m in the third quarter of fiscal 2010, a 20 % revenue growth.

Citrix reported financial results for Q3 fiscal 2011 ended 30 September 2011. Net income for Q3 of fiscal 2011 was $92m, or $0.49 per diluted share, compared to $88m, or $0.46 per diluted share, for Q3 2010.

In reviewing the third quarter results of 2011, compared to the third quarter of 2010 product license revenue increased 28%, while revenue from license updates increased 7%.

Citrix also reported 20% growth in online services revenue. Technical services revenue increased 37%.

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Geographically, revenue increased in the America’s region by 21%, increased in the EMEA region by 12%, and increased in the Pacific region by 39%, said Citrix.

Citrix president and CEO Mark Templeton said, "I couldn’t be more delighted or proud of our Q3 performance across geographies, business lines and financially."

Deferred revenue totaled $834m, compared to $680m as of 30 September 2010.

GAAP operating margin was 19% for the quarter and non-GAAP operating margin was 26% for the quarter, excluding the effects of amortisation of intangible assets primarily related to business combination and stock-based compensation expenses.

Cash flow from operations was $188m, compared with $190m in Q3 2010; and the company repurchased 2.2m shares at an average price of $56.68.

"We have strong positions across SaaS and collaboration, virtualisation and desktop, networking and cloud platform markets… and the investments we’ve made over the past year in people, infrastructure, innovation and go-to-market is powering growth through geographical reach and business model diversity," Templeton said.

In October 2011, Citrix announced the acquisition of ShareFile, a market leading provider of secure, cloud-based data storage, sharing and collaboration. Citrix has also announced that it has agreed to acquire App-DNA, a leader in application migration and management and long-time Citrix partner.

Citrix management expects to achieve revenue in the range of $610.0m to $620.0m its fourth fiscal quarter of 2011 ending 31 December 2011. GAAP diluted earnings per share is targeted to be in the range of $0.59 to $0.60, said the company.
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CBR Staff Writer

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