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Citrix Beats Street Estimates

Citrix Systems Inc. Wednesday night (Jan 17) reported positive financial results for the fourth quarter and fiscal year ended December 31, 2000.

"We are very encouraged by the progress we have made in both broadening our solution offerings and penetrating deeper into large accounts," said Citrix president Mark Templeton. "Especially in times of economic uncertainty, companies look to leverage information technology for higher return on investment, and since Citrix technology can reduce a company's Total Cost of Application Ownership (TCAO) by as much as 50 percent over a 5-year period, we feel we are well positioned to meet customer needs in this environment."

Highlights of the results include:

  • Earnings per share for the fourth quarter were $0.16, beating Wall Street's consensus estimates by $0.01
  • Fourth quarter revenue totaled $123.4 million
  • Revenue for the fourth quarter grew 8.7 percent over the third quarter
  • Electronic delivery of licenses grew this quarter to 24 percent of product sales compared to 20 percent in the previous quarter
  • Cash flow from operations was $77.9 million for the quarter
  • Cash and investments totaled $849.2 million at year end
  • The company repurchased approximately 2.1 million shares of its common stock during the quarter, bringing the total number of shares repurchased for fiscal 2000 to 3.8 million

Citrix signed multiple customer agreements in environments deploying a variety of applications, including Lotus Notes, Microsoft Office, Oracle, PeopleSoft, Siebel and various applications developed in-house. In North America, customer wins included Wells Fargo, Exxon-Mobil Upstream Tech, Nationwide Insurance and Willis North America. In Europe, customer wins included Bankgesellschaft Berlin, British energy provider Centrica plc, French insurance concern CNAV, the German Finance Ministry and ING Group NV.

Citrix was named to the prestigious Deloitte & Touche Technology "Fast 500" program for the fourth consecutive year. The program ranks the 500 fastest growing technology companies in the U.S. based on five-year percentage growth in revenues. As the ASP market continues to develop, Citrix added 26 ASPs to its iBusiness program. This addition increased total membership to 145 and broadened its geographic reach. 7

Citrix announced a licensing agreement with Sequoia Software, the leading provider of XML-pure e-business portal software, to market and demonstrate Citrix NFuse application portal software. This announcement follows previous licensing agreements announced with Brio, Corporate Yahoo!, Epicentric, Plumtree, TopTier and Viador.

Founded in 1989, Citrix Systems Inc. is a global leader in application server software and services that offer "Digital Independence" -- the ability to run any application on any device over any connection, wireless to web. Its products, including MetaFrame application server software, NFuse application portal software and Independent Computing Architecture (ICA), a core application-server technology, have been widely adopted by the corporate mainstream to achieve key business goals.