Citrix Q3 Profit Tops Estimates; Robert Calderoni Named Interim President & CEO

(RTTNews) - Citrix Systems, Inc. (CTXS) reported improved profit for the third quarter of fiscal year 2015 as its revenue was up 7 percent year over year. The company said its results are starting to reflect the benefits of the actions it has taken since the start of the year to improve operating margin and drive integrations among strategic products. During the quarter, GAAP operating margin was 8 percent, and non-GAAP operating margin was 26 percent.

Looking forward, the company said, it expects fiscal 2015 net revenue to be in the range of $3.24 billion to $3.25 billion. GAAP earnings per share is targeted to be in the range of $1.83 to $2.05. Non-GAAP earnings per share is targeted to be in the range of $3.85 to $3.90.

Citrix also said that it plans to announce the results of its on-going operational and strategic reviews and provide its business outlook for fiscal year 2016 in mid-November.

Separately, Citrix announced that Robert Calderoni, Executive Chairman, has been unanimously appointed interim president and CEO, effective immediately. Calderoni will continue serving as Executive Chairman on the Citrix Board. Mark Templeton, current president and CEO, will serve in an advisory role through the end of the year. The Board's previously announced CEO search process remains underway.

Non-GAAP net income for the third quarter of fiscal year 2015 was $168 million, or $1.04 per share, On average, 29 analysts polled by Thomson Reuters expected the company to report profit per share of $0.84 for the quarter. Analysts' estimates typically exclude special items.

Net income for the third quarter of fiscal year 2015 was $56 million, or $0.35 per diluted share, compared to $48 million, or $0.29 per diluted share, for the third quarter of fiscal year 2014.

Total net revenues were $813.27 million compared to $758.99 million. Analysts expected revenue of $786.02 million for the quarter.