Citrix Systems (CTXS) Tops Q4 EPS by 7c; Announces Restructuring Plan

Citrix Systems (NASDAQ: CTXS) reported Q4 EPS of $1.10, $0.07 better than the analyst estimate of $1.03. Revenue for the quarter came in at $851 million versus the consensus estimate of $844.3 million.

2015 Restructuring Program

Citrix also announced the implementation of a restructuring program designed to increase strategic focus and operational efficiency. The restructuring will affect approximately 700 full-time and 200 contractor positions, and is expected to result in annualized pre-tax savings in the range of approximately $90 million to $100 million. Citrix expects to incur pre-tax charges in the range of approximately $40 million to $45 million related to employee severance arrangements and $9 million to $10 million related to the consolidation of leased facilities during fiscal year 2015.

“We hear every day from customers about the dual pressures they face – to deliver business results, while creating an engaging work-life experience for their people,” said Mark Templeton, president and CEO, Citrix. “Our focus on enabling a software-defined workplace is putting Citrix in front of this strategic challenge through the unique integration of our delivery networking solutions, workspace services and mobility apps. I’m proud of our 2014 performance, but we’re not satisfied. We are looking ahead to 2015 with a focus on innovation that delivers a better experience, more flexibility and greater security to our customers, and a more focused organizational footprint that enables profitable growth.”

Citrix Systems sees FY2015 EPS of $3.60-$3.65, versus the consensus of $3.69. Citrix Systems sees FY2015 revenue of $3.29-3.33 billion, versus the consensus of $3.36 billion.

Citrix Systems sees Q1 2015 EPS of $0.70-$0.72, versus the consensus of $0.80. Citrix Systems sees Q1 2015 revenue of $780-790 million, versus the consensus of $796.7 million.

For earnings history and earnings-related data on Citrix Systems (CTXS) click here.

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