Upcoming AWS Coverage on Iron Mountain Post-Earnings Results

LONDON, UK / ACCESSWIRE / May 3, 2017 / Active Wall St. announces its post-earnings coverage on Citrix Systems, Inc. (NASDAQ: CTXS). The Company reported its first quarter fiscal 2017 results on April 26, 2017. The cloud computing Company reported a 1% increase in revenue on a y-o-y basis. Register with us now for your free membership at:

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One of Citrix Systems' competitors within the Business Software & Services space, Iron Mountain Inc. (NYSE: IRM), reported its Q1 2017 financial results before market hours on Thursday April 27, 2017. AWS will be initiating a research report on Iron Mountain in the coming days.

Today, AWS is promoting its earnings coverage on CTXS; touching on IRM. Get our free coverage by signing up to:

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Earnings Reviewed

For the three months ended March 31, 2017, Citrix achieved revenue from continuing operations of $663 million, up 1% compared to revenue of $659 million in Q1 2016. The Company's revenue numbers surpassed analysts' consensus of $661.1 million.

During Q1 2017, Citrix's Product and license revenue decreased 5% to $191.60 million compared to revenue of $202.03 million. The Company's Software as a service revenue surged 24% to $38.73 million for the reported quarter compared to $31.12 million in the year ago same quarter. For Q1 2017, Citrix's License updates and maintenance increased 2% to $402.76 million compared to revenue of $393.02 million for Q1 2016. The Company's Professional services revenue, which is comprised of consulting, product training and certification, declined 9% to $29.60 million compared to revenue of $32.61 million in the prior year's comparable period.

For Q1 2017, Citrix's GAAP gross margin was 85%, while non-GAAP gross margin was 87% excluding the effects of amortization of acquired product related intangible assets and stock-based compensation expense. The Company's GAAP operating margin was 19% and non-GAAP operating margin was 28%, excluding the effects of stock-based compensation expense, amortization of acquired intangible assets, separation costs related to the separation of the GoTo business and subsequent merger with LogMeIn, and costs associated with restructuring programs.

For Q1 2017, Citrix's net income from continuing operations was $70 million, or $0.44 per diluted share, compared to $73 million, or $0.47 per diluted share, for Q1 2016. Net income from continuing operations for Q1 2017 and Q1 2016 includes restructuring charges of $8 million and $46 million, respectively, for severance and facility closing costs. Additionally, net income from continuing operations for the reported quarter includes $46 million in charges relating to changes in the Company's expectations of realizability of certain state R&D tax credits resulting from the separation of the GoTo business. Citrix's non-GAAP net income from continuing operations for Q1 2017 was $152 million, or $0.97 per diluted share, compared to $155 million, or $1.00 per diluted share, for Q1 2016. The Company's earnings numbers surpassed Wall Street's estimates of $0.94 per share.

Balance Sheet

Citrix's deferred revenue totaled $1.7 billion as of March 31, 2017, up 11% compared to $1.5 billion as of March 31, 2016. The Company reported cash flow from continuing operations of $292 million for the reported quarter compared with $307 million for the year earlier same quarter.

Outlook

For Q2 2017, Citrix is forecasting net revenue in the range of $685 million to $695 million. The Company's GAAP diluted earnings per share from continuing operations is targeted to be in the range of $0.70 to $0.74. Non-GAAP diluted earnings per share from continuing operations is targeted to be in the range of $0.97 to $1.00, excluding $0.18 related to the effects of stock-based compensation expenses, $0.10 related to the effects of amortization of acquired intangible assets, $0.06 related to the effects of amortization of debt discount, $0.03 related to restructuring charges and $0.07 to $0.14 for the tax effects related to these items.

Stock Performance

On Tuesday, May 02, 2017, the stock closed the trading session at $81.29, slightly declining 0.56% from its previous closing price of $81.75. A total volume of 1.55 million shares have exchanged hands. Citrix Systems' stock price surged 11.95% in the last three months, 20.78% in the past six months, and 23.48% in the previous twelve months. Furthermore, on a year to date basis, the stock rallied 14.30%. Shares of the company have a PE ratio of 24.09 and have a market cap of $12.79 billion.

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SOURCE: Active Wall Street