Citrix Systems continues to buck the disappointing-earnings trend, reporting second-quarter net revenue of $147.3 million, up 38.8 percent from Q2 last year ($106.1 million). The company’s earnings are also up 10.9 percent over Q1’s $132.8 revenue.
The application server software company surprised analysts by reporting earnings per share of $0.19. Many analysts expected Citrix per-share earnings to be $0.17.
“We are pleased to post our fourth consecutive quarter of positive results, especially given the economic uncertainty that remains in the marketplace,” said Mark B. Templeton, Citrix president and chief executive officer said in a prepared statement.
Kruger also pointed to the addition of Bob Kruger as chief technology officer and the acquisition of Sequoia Software, a maker of XML-based portal software, as moves that strengthen the company. (See Citrix to Acquire Sequoia Software.
More Financial Results
- Electronic delivery of licenses this quarter amounted to 26 percent of product sales compared to 19 percent in the previous quarter.
- Operating margin, excluding the effects of write-offs for in-process research and development and amortization of intangible assets relating to business combinations, was 31.2 percent for the quarter.
- Cash flow from operations was $56.0 million for the quarter.
- Cash and investments totaled $737.5 million at the end of the quarter.
- The company repurchased approximately 1.6 million shares of its common stock during the quarter.
Citrix is ranked as one of the Top 20 infrastructure providers by ASPnews.