UPDATE 1-Citrix Systems Q4 earnings rise
(Recasts; adds background, share movement, analyst comment)
By Purwa Naveen Raman
BANGALORE Jan 23 (Reuters) - Infrastructure software maker Citrix Systems Inc (CTXS.O: Cotización) reported a 31 percent jump in quarterly profit before charges that beat Wall Street's view, and authorized the buyback of up to $300 million shares, sending shares up more than 5 percent in trading after hours.
Excluding items, fourth-quarter net income rose to $95 million, or 49 cents a share, from $72 million, or 39 cents a share, a year ago. Revenue rose 24 percent to $400 million.
Analysts on average had expected the company to earn 43 cents a share, excluding items, on revenue of $380.7 million, according to Reuters Estimates.
For the first quarter, the Fort Lauderdale, Florida-based company expects earnings of 33 cents a share to 35 cents a share, excluding items, on revenue of $$367 million to $377 million. Analysts expect earnings of 35 cents a share, before items, on revenue of $368 million.
Citrix's stock has risen more about 25 percent since the start of 2007, spurred by strong quarterly results and a bright outlook for virtualization technology developed by the company.
Virtualization is a software technology that boosts the efficiency of computers by allowing one machine to perform the work of several.
EXPANDING VIRTUALIZATION Continuación...