Citrix’s first-quarter revenue will be at least $20 million short of projections.
The company announced its preliminary earnings today, reducing its revenue outlook to $755 million to $760 million — down from $780 million to $790 million. Citrix announced 900 layoffs in January as part of a company restructuring, and those moves hurt more than expected, CEO Mark Templeton said in a statement.
“We are disappointed with our Q1 results, but fully committed to the financial, operational and strategic initiatives announced last quarter,” Templeton said. “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.”
Citrix did not provide any information on specific business units or products in today’s announcement; those would likely come with the release of the full Q1 earnings on April 22 — three weeks before the company’s annual user conference, Synergy. In an interview published today on SearchVirtualDesktop.com, Templeton previewed some of the news to come at Synergy and gave updates on the acquisitions of Octoblu and Virtual.