Citrix Systems (halted, will resume trading at 16:30) lowers Q1 guidance
Co issues downside guidance for Q1 (Mar), sees EPS of $0.63-0.65, excluding non-recurring items, vs. $0.72 Capital IQ Consensus Estimate; sees Q1 (Mar) revs of $755-760 mln vs. $786.65 mln Capital IQ Consensus Estimate.
"We are disappointed with our Q1 results, but fully committed to the financial, operational and strategic initiatives announced last quarter. 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."