Citrix Systems, Inc. (CTXS) reported third-quarter net income of $48 million, or $0.29 per share, compared to $77 million, or $0.41 per share, for the third quarter of fiscal year 2013. GAAP results for the third quarter of fiscal year 2014 include a charge of approximately $21 million related to a previously disclosed patent lawsuit, as well as a restructuring charge of $3 million for severance costs incurred to better align resources to strategic initiatives. Non-GAAP net income for the third quarter of fiscal year 2014 was $125 million, or $0.75 per share.
On average, 31 analysts polled by Thomson Reuters expected the company to report profit per share of $0.73 for the quarter. Analysts' estimates typically exclude special items.
Revenue was $759 million, compared to $713 million in the third quarter of fiscal year 2013, representing 6 percent revenue growth. Analysts expected revenue of $771.79 million for the quarter.
"While our results were clearly mixed, we executed well in many important areas including product releases, go-to market investments and partnership initiatives, all while maintaining focus on operational refinements and profitability," said Mark Templeton, CEO for Citrix.
For the fiscal year ending December 31, 2014, Citrix expects: net revenue to be in the range of $3.13 billion to $3.14 billion; GAAP earnings per share to be in the range of $1.57 to $1.58; and Non-GAAP earnings per share to be in the range of $3.22 to $3.25. Analysts expect the company to report fiscal 2014 earnings per share of $3.24 on revenue of $3.18 billion.
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