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CITRIX SYSTEMS (CTXS)
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Citrix Systems : Earnings Review and Free Research Report: Citrix Systems Total Revenue Grew 3.3%; EPS Surged 15.4%

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11/15/2017 | 01:46pm CET

Research Desk Line-up: Jack Henry & Associates Post Earnings Coverage

LONDON, UK / ACCESSWIRE / November 15, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Citrix Systems, Inc. (NASDAQ: CTXS), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=CTXS, following the Company's announcement of its financial results on October 25, 2017, for the third quarter fiscal 2017. The cloud computing Company's adjusted EPS surpassed analysts' expectations. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

http://protraderdaily.com/register/

Get more of our free earnings reports coverage from other constituents of the Business Software & Services industry. Pro-TD has currently selected Jack Henry & Associates, Inc. (NASDAQ: JKHY) for due-diligence and potential coverage as the Company announced on November 07, 2017, its financial results for Q1 FY18. Register for a free membership today, and be among the early birds that get access to our report on Jack Henry & Associates when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on CTXS; also brushing on JKHY. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=CTXS

http://protraderdaily.com/optin/?symbol=JKHY

Earnings Reviewed

For three months ended September 30, 2017, Citrix Systems' total net revenues increased 3.3% to $690.93 million from $668.74 million in Q3 FY16. Total net revenue was below analysts' expectations of $691.2 million.

During Q3 FY17, Citrix Systems' gross profit increased 2.5% to $584.99 million from $570.57 million in the same period last year. For the reported quarter, the Company's gross margin decreased 60 basis points to 84.7% of revenue from 85.3% of revenue in Q3 FY16. For the reported quarter, the Company's adjusted gross margin was 87.4% of revenue.

For the reported quarter, Citrix Systems' research and development (R&D) expenses increased 5.2% to $107.11 million from $101.74 million in Q3 FY16. During Q3 FY17, the Company's general and administrative (G&A) expenses decreased 0.3% to $79.38 million from $79.62 million in the same period last year.

During Q3 FY17, Citrix Systems' operating income increased 6.2% to $136.71 million from $128.63 million in the same period last year. For the reported quarter, the Company's operating margin increased 60 basis points to 19.8% of revenue from 19.2% of revenue in Q3 FY16. For the reported quarter, the Company's adjusted operating margin increased 550 basis points to 31.6% of revenue from 26.1% of revenue in the second quarter of 2017.

For the reported quarter, Citrix Systems' net income increased 13.4% to $126.72 million on a y-o-y basis from $111.74 million in Q3 FY16. During Q3 FY17, the Company's diluted EPS increased 15.4% to $0.82 on a y-o-y basis from $0.71 in the same period last year.

For the reported quarter, Citrix Systems' adjusted net income increased 9.5% to $186.15 million on a y-o-y basis from $169.84 million in Q3 FY16. Adjusted net income excluded the effects of stock-based compensation expense, amortization of acquired intangible assets, amortization of debt discount, restructuring charges, and the tax effects related to these items. During Q3 FY17, the Company's adjusted diluted EPS increased 12.9% to $1.22 on a y-o-y basis from $1.08 in the same period last year. Adjusted diluted EPS surpassed analysts' expectations of $1.04.

Segment Results

During Q3 FY17, the Company's product and licenses revenue decreased 6.7% to $192.10 million from $206.04 million in the same period last year. For the reported quarter, the Company's software revenue increased 32.1% to $45.81 million from $34.67 million in Q3 FY16. For the reported quarter, the Company's license updates and maintenance revenue increased 5.7% to $420.95 million, from $398.17 million in Q3 FY16. During Q3 FY17, the Company's Professional services revenue increased 7.4% to $32.06 million from $29.85 million in the same period last year.

Balance Sheet

As on September 30, 2017, Citrix Systems' cash and equivalents increased 12.5% to $940.87 million from $836.10 million on December 31, 2016. For the reported quarter, the Company's deferred revenue decreased 2.8% to $1.17 billion from $1.21 billion in Q4 FY16.

During Q3 FY17, the Company's net accounts receivables decreased 31.7% to $464.80 million from $681.21 million in the fourth quarter of last year. For the reported quarter, the Company's accounts payable decreased 21.9% to $56.77 million from $72.72 million in Q4 FY16.

For the reported quarter, Citrix Systems' cash provided by operating activities increased 7.1% to $255 million from $238 million in the same period last year.

Outlook

For FY17, Citrix Systems expects diluted EPS to be in the range of $2.80-$2.93 and adjusted diluted EPS to be in the range of $4.79-$4.81.

Stock Performance

On Tuesday, November 14, 2017, the stock closed the trading session at $85.22, rising 1.14% from its previous closing price of $84.26. A total volume of 2.49 million shares have exchanged hands, which was higher than the 3-month average volume of 1.50 million shares. Citrix Systems' stock price surged 4.42% in the last one month, 11.69% in the past three months, and 28.11% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have rallied 19.83%. The stock is trading at a PE ratio of 26.43 and currently has a market cap of $12.81 billion.

Pro-Trader Daily:

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Financials ($)
Sales 2017 2 824 M
EBIT 2017 876 M
Net income 2017 477 M
Finance 2017 1 256 M
Yield 2017 -
P/E ratio 2017 28,42
P/E ratio 2018 26,26
EV / Sales 2017 4,17x
EV / Sales 2018 3,99x
Capitalization 13 042 M
Chart CITRIX SYSTEMS
Duration : Period :
Citrix Systems Technical Analysis Chart | CTXS | US1773761002 | 4-Traders
Technical analysis trends CITRIX SYSTEMS
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 22
Average target price 86,7 $
Spread / Average Target 0,12%
EPS Revisions
Managers
NameTitle
David James Henshall President, Chief Executive Officer & Director
Robert M. Calderoni Executive Chairman
Mark M. Coyle Chief Financial Officer & Senior Vice President
Godfrey R. Sullivan Lead Independent Director
Murray J. Demo Independent Director
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