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CORRECTED-UPDATE 1-Citrix forecasts revenue above estimates, shares rise
January 30, 2013 / 10:10 PM / in 5 years

CORRECTED-UPDATE 1-Citrix forecasts revenue above estimates, shares rise

(Corrects bullets 3 and 4 to say company reported 4th-qtr results, not forecast)

* Expects 1st-qtr adjusted earnings of $0.62-$0.63/share vs est $0.67

* Sees revenue of $670 mln-$680 mln vs est $671 mln

* 4th-qtr adjusted earnings of $0.90/share vs est $0.84

* 4th-qtr revenue $740 mln vs est $705.7 mln

* Shares up 11 pct after the bell

Jan 30 (Reuters) - Business software maker Citrix Systems Inc reported stronger-than-expected fourth-quarter results, helped by strong growth in the Asia-Pacific region, and forecast current-quarter revenue largely above analyst estimates.

Citrix, whose shares were up 11 percent after the bell, said it expected first-quarter revenue of $670 million to $680 million and adjusted earnings of 62-63 cents per share. Analysts on average expected revenue of $670.7 million and earnings of 67 cents per share, according to Thomson Reuters I/B/E/S.

Citrix makes virtualization software that allows computers and mobile devices to access applications from remote servers, boosting efficiency and cutting down on the cost of installing and updating software on every device.

The company said in October that deals were being “resized” and delayed as a result of weak spending by the U.S. government and that it was being affected by “short-term noise around some economic changes in EMEA (Europe, the Middle East and Africa).”

Rival VMware Inc on Monday forecast a disappointing year ahead, partly due to a drop in federal spending, and said it would cut about 7 percent of its workforce as part of a restructuring.

Citrix said on Wednesday that its net income rose to $114 million, or 60 cents per share, in the quarter ended Dec. 31, from $109 million, or 58 cents per share, a year earlier.

Excluding items, the company earned 90 cents per share.

Revenue rose 19 percent to $740 million, with revenue from Asia Pacific up 52 percent from a year earlier.

Analysts on average had expected earnings of 84 cents per share on revenue of $705.7 million.

Shares the Fort Lauderdale, Florida-based company were up 11 percent in extended trading, after closing at $66.98 on the Nasdaq. (Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Ted Kerr)

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