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Citrix Systems profit misses consensus by 57.6% in Q1

Citrix Systems Inc. said its first-quarter normalized net income was 27 cents per share, compared with the S&P Capital IQ consensus estimate of 64 cents per share.

EPS declined year over year from 28 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $44.0 million, a decrease of 16.1% from $52.4 million in the prior-year period.

The normalized profit margin declined to 5.8% from 7.0% in the year-earlier period.

Total revenue increased on an annual basis to $760.8 million from $750.8 million, and total operating expenses totaled $674.9 million, compared with $668.9 million in the prior-year period.

Reported net income fell 47.6% from the prior-year period to $29.2 million, or 18 cents per share, from $55.7 million, or 30 cents per share.