Citrix Systems' Stock Slumps After Profit, Sales Warning

Citrix Systems Inc.'s stock slid 5.1% in after-hours trade Thursday, after the business software company lowered its first-quarter profit and sales outlook, citing a disruption to its business caused by restructuring initiatives and the negative impact of currency movements. The company now expects adjusted earnings per share in the range of 63 cents to 65 cents and revenue of $755 million to $760 million, compared with a previous EPS estimate of 70 cents to 72 cents and revenue forecast of $780 million to $790 million. "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," said Chief Executive Mark Templeton. The stock has gained 1.3% year to date through Thursday's close, while the S&P 500 has advanced 1.6%.

Copyright © 2015 MarketWatch, Inc.