Citrix Systems Inc. reported third quarter revenue of $691 million, up 3 percent from the same period a year earlier. Citrix, which owns Raleigh-based Sharefile, announced layoffs in October.
Citrix posted earnings of $127 million, or 82 cents a share compared to $112 million, or $0.71 per diluted share, for the third quarter of fiscal year 2016.
“II am pleased with our execution this quarter and our renewed discipline in managing our business. We are moving quickly to drive business transformation across Citrix, aligning with our customers’ desire to support multi-cloud and hybrid-cloud environments,” said David Henshall, president and CEO, in a statement.
During an earnings call with analysts, Henshall the company’s Sharefile software business unit will undergo “A bit of shift in focus,” but “It’s full speed ahead with Sharefile.”
Henshall said the Citrix restructuring that led to recent layoffs is more about “Looking in terms of where we’re going” than a “cost exercise.” In Sharefile’s case, he said, the aim is to pivot toward the enterprise rather than the small to medium business space.
The company took restructuring charges of $9 million during the quarter, but the figure doesn’t include the October layoffs. Citrix expects overall restructuring charges to hit between $60 million and $100 million.
Henshall said Citrix is moving quickly in its transformation into a subscription model.
