Citrix Systems expects results below guidance
This is below the company's guidance of $780 million to $790 million. Net income for the first quarter of fiscal year 2015 per diluted share is expected to be in the range of $0.15 to $0.17 compared to guidance of $0.20 to $0.22 per diluted share.
Non-GAAP net income for the first quarter of fiscal year 2015 per diluted share is expected to be in the range of $0.63 to $0.65, compared to guidance of $0.70 to $0.72 per diluted share.
"We are disappointed with our Q1 results, but fully committed to the financial, operational and strategic initiatives announced last quarter," said Mark Templeton, president and CEO for Citrix.
"We underestimated the impact caused by our restructuring, organizational evolution, and changes to our field and channel strategies, which were the result of important decisions made to get the business ready for our next phase of growth.
"Additionally, the increase in foreign exchange volatility impacted results and customer-buying behavior to a larger extent than anticipated in the quarter. ■
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