* First-quarter adjusted profit $0.62/share vs estimate
* First-quarter revenue $672.3 mln vs estimate $676.9 mln
* Expects 2nd-quarter adj profit $0.62-$0.63/share vs est
* Cuts full-year profit forecast range by $0.04 per share
* Shares down 10 pct after hours
April 24 Cloud computing software maker Citrix
Systems Inc forecast a lower-than-expected profit for
the current quarter as its customers reduce IT spending and
delay orders, sending its shares down 10 percent in extended
Citrix said it expected an adjusted profit of 62 cents-63
cents per share in the second quarter on revenue of $705
Analysts were looking for an adjusted profit of 70 cents per
share and revenue of $711.5 million, according to Thomson
"The timing of closing of large engagements as well as the
specific contract terms of those deals will cause recognition of
revenue to be uneven throughout the year," Chief Financial
Officer David Henshall said on a analyst call.
Citrix also cut its full-year profit forecast range by 4
cents per share to $3.08-$3.11 per share.
The Fort Lauderdale, Florida-based company's cloud computing
software allows customers to access applications remotely from a
central server, and reduces costs by eliminating the need to
upgrade and install software on each individual computer on
Rival VWware Inc on Tuesday forecast current-quarter
revenue below analysts' estimates, suggesting that they expect
more business in the second half of the year.
Citrix's first-quarter operating margin fell 6 percentage
points to 8 percent while operating costs jumped 19 percent to
$501.4 million from a year earlier.
Net income fell to $59.7 million, or 32 cents per share,
from $68.3 million, or 36 cents per share, a year earlier.
Excluding items, it earned 62 cents per share. Revenue rose 14
percent to $672.3 million.
Analysts on average had expected earnings of 63 cents per
share on revenue of $676.9 million, according to Thomson Reuters
Citrix's shares, which have gained about 6 percent in the
last six months, closed at $67.66 on the Nasdaq on Wednesday.
They were down at $60.19 after the bell.