April 23 (Reuters) - Software maker Citrix Systems Inc (CTXS.O) reported a drop in quarterly profit due to higher operating expenses, and forecast second-quarter revenue below analysts’ expectations.
The company, which develops virtualization software that allows a single computer to act like many “virtual” machines, earned $34 million, or 18 cents a share, in the first quarter.
Citrix had posted earnings of $38 million, or 20 cents a share, the year-earlier quarter.
Excluding certain exceptional items, the company earned 35 cents a share.
Analysts were expecting the company to earn 34 cents, excluding special items, on revenue $371.5 million for the quarter, according to Reuters Estimates.
For the second quarter, the company expects to earn 35 cents to 38 cents a share, excluding items. The top end of the forecast is in line with what analysts’ were looking for.
It expects revenue of $380 million to $390 million for the quarter, compared with analysts’ expectations of $392.6 million.
Citrix competes with VMware Inc (VMW.N), which holds 70 percent of the virtualization market, Oracle Corp ORCL.O and Sun Microsystems Inc JAVA.O.
Shares of the company fell more than 4 percent in post-market trading, after closing at $32.39 Wednesday on Nasdaq. (Reporting by Saumyadeb Chakrabarty in Bangalore; Editing by Gopakumar Warrier)