Tech Industry

Citrix Systems tops 3Q forecasts

Citrix Systems Inc. (Nasdaq: CTXS) skipped past analysts' estimates in its third quarter Monday, raking in $34.2 million, or 35 cents a share, on sales of $105.8 million.

Its shares closed off 1 7/16 to 59 1/8 ahead of the earnings report.

First Call consensus expected the software developer to earn 34 cents a share in the quarter.

The $105.8 million in sales represents a 56 percent improvement compared to the year-ago quarter when it pocketed $21.1 million, or 23 cents a share, on sales of $67.6 million.

Last quarter, Citrix also beat Street estimates, earning $30.2 million, or 32 cents a share, on sales of $94.4 million.

"We are pleased with our quarterly results which continue to demonstrate that our strategy of delivering server-based computing solutions is on track," said CEO Mark Templeton in a prepared release.

Citrix shares peaked at 69 15/16 in September after falling to a 52-week low of 26 1/2 in April.

The stock split 2-for-1 in March.

Eight of the nine analysts tracking the stock rate it either a "buy" or "strong buy."

First Call consensus expects it to post a profit of $1.31 a share in the fiscal year.