Stock Monitor: CA, Inc. Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 10, 2018 / If you want access to our free earnings report on Citrix Systems, Inc. (NASDAQ: CTXS) ("Citrix"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CTXS. The Company posted its financial results on April 25, 2018, for the first quarter of the fiscal year 2018 (Q1 FY18). The Fort Lauderdale, Florida-based Company's total net revenues grew 5% y-o-y, topping market consensus estimates. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
During the quarter ended March 31, 2018, Citrix's total revenues increased to $697.19 million from $662.68 million in Q1 FY17. The Company's total revenue numbers for Q1 FY18 beat market consensus estimates of $675.8 million. The Company's product and license revenues increased to $160.70 million in Q1 FY18 from $170.90 million in Q1 FY17. The Company's subscription revenues rose to $103.16 million in Q1 FY18 from $69.09 million in Q1 FY17. Furthermore, the Company's support and services also rose to $433.34 million during Q1 FY18 from $422.69 million in Q1 FY17.
The cloud computing Company's income from continuing operations came in at $144.26 million, or $0.99 per diluted share, in Q1 FY18 compared to $70.33 million, or $0.44 per diluted share, in Q1 FY17. The Company's non-GAAP net income from continuing operations rose to $183.62 million, or $1.29 per diluted share, during Q1 FY18 from $151.61 million, or $0.97 per diluted share, in Q1 FY17. Moreover, Wall Street had expected the Company to report a non-GAAP net loss of $1.05 per share.
For the reported quarter, the Company's total cost of net revenues came in at $108.29 million, up from $102.46 million in the prior year's same quarter. The Company's GAAP gross margin rose to $588.91 million in Q1 FY18 from $560.22 million in Q1 FY17. The Company's research and development (R&D) expenses stood at $98.55 million in Q1 FY18 compared to $102.67 million in Q1 FY17. The Company's sales, marketing, and services expenses rose to $251.21 million in Q1 FY18 compared to $246.77 million in Q1 FY17. The Company's general and administrative (G&A) expenses were $63.73 million in the reported quarter versus $76.51 million in Q1 FY17. The Company's total operating expenses decreased to $423.34 million in Q1 FY18 from $437.58 million in Q1 FY17. Meanwhile, the Company reported an income from operations of $165.56 million in Q1 FY18 compared to $122.64 million in Q1 FY17.
Cash Flow and Balance Sheet
During Q1 FY18, Citrix's net cash provided by operating activities from continuing operations were $357.86 million versus $291.53 million in Q1 FY17. At the close of books in the reported quarter, Citrix had $954.70 million in the form of cash and cash equivalents compared to $1.12 billion at the close of books on December 31, 2017. Furthermore, the Company had long-term debt of $2.14 billion as on March 31, 2018, compared to $2.13 billion as on December 31, 2017.
During Q1 FY18, the Company repurchased approximately 8.4 million shares.
In its guidance for the full year FY18, Citrix's net revenues are expected to be in the range of $2.88 billion to $2.91 billion. The Company's GAAP diluted earnings per share (EPS) is forecasted to be in the band of $3.45 to $3.59, while non-GAAP diluted EPS is anticipated to be in the range $5.20 to $5.30 for FY18.
For Q2 FY18, the Company projects total net revenues to be in the range of $710 million to $720 million. GAAP diluted EPS is projected to be in the range of $0.72 to $0.76, and non-GAAP diluted EPS is anticipated to be between $1.18 and $1.22 for Q2 FY18.
Stock Performance Snapshot
May 09, 2018 - At Wednesday's closing bell, Citrix Systems' stock marginally climbed 0.46%, ending the trading session at $107.78.
Volume traded for the day: 2.63 million shares, which was above the 3-month average volume of 1.92 million shares.
Stock performance in the last month – up 15.40%; previous three-month period – up 23.04%; past twelve-month period – up 24.14%; and year-to-date – up 22.48%
After yesterday's close, Citrix Systems' market cap was at $14.67 billion.
Price to Earnings (P/E) ratio was at 30.89.
The stock is part of the Technology sector, categorized under the Business Software & Services industry. This sector was up 1.2% at the end of the session.
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