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$CTXS appointed Mark Ferrer as EVP and chief revenue officer, reporting to Citrix CEO David Henshall. Ferrer joins Citrix from SAP, where he has been the COO and EVP of SAP Global Customer Operations since 2011. Citrix EVP of Worldwide Sales and Services, Carlos Sartorius, will be assisting with transition and retiring at end of 2017.
$CTXS reaffirmed its 2Q17 guidance. Revenue is expected to be in line with the current guidance of $685-695MM with strong demand from customers for subscription-based solutions. GAAP diluted EPS is expected to be in line with the current guidance of $0.70-0.74. Adjusted diluted EPS is expected to be in line with the current guidance of $0.97-1.00.
$CTXS appointed David J. Henshall, CFO and COO, as President, CEO and a member of the BoD, effective immediately. This follows the mutual separation decision between the BoD and CEO Kirill Tatarinov. Mark M. Coyle, SVP, Finance, has been appointed interim CFO, effective immediately.
$CTXS stated that cash flows will benefit going through 2017. The company is billing a large portion of its multi-year transactions upfront. $CTXS is building a balance of unbilled backlog measured in several million dollars. $CTXS will collect a lot of cash from these transactions and moving into cloud, it will outpace revenue in the short-term.
$CTXS said customer demand and customer conversations are strongly focused on cloud and this aligns with the company’s strategic focus. $CTXS is focused more on new customers in 2017. The company plans to ramp up its infrastructure and it is building its processes in order to have better ability to manage the financial model.
$CTXS reported a rise in 4Q16 earnings driven by higher revenue as well as lower costs and expenses. Net income rose to $199.85MM or $1.26 per share from $131.27MM or $0.84 per share last year. Revenue grew to $908.36MM from $904.8MM. Non-GAAP EPS decreased to $1.61 from $1.66 in 4Q15, which included tax benefits.