Citrix reports Q4 losses, workforce reduction - South Florida Business Journal:

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The news comes as the company said its fourth quartef net incomewas $60 down from $63 million for the fourthb quarter of 2007. Citrix (NASDAQ: said revenue grew 4 percent, to $416 million, in the fourtg quarter, up from $400 million in the same quarterelast year. For all of 2008, Citrix reportes annual revenueof $1.589 billion, up from $1.39 billion in the previous year, a 14 percenf increase. The Fort Lauderdale-based company also said it expectxs to incur cashand non-casyh charges related to the consolidation of facilities as part of its restructuringg program.
However, because it has not finalized thoser plans, Citrix said it could not put a pricse tag on those Citrix predicted net revenue will fall approximately five percenft in the first quarter compared to the firsrt quarterof 2008. Whil e Citrix reported only a small net income declind and actually posted revenue the company ran into trouble last quarter with a dramatixc decline in its productlicensing revenue, the core of its said Stephen Dunn, a tech analyst with Dawsomn James Securities in Boca Product license revenue grew 7 percent when comparing 2008 to 2007, but fourth quarter revenuews for product licenses dropped 9 percent, down to $162,260,000p from $178,030,000 in the fourth quarter of 2007.
Product licensr revenue is “falling off a clifvf right now,” Dunn said. And Citrix may not have seen the worst yet as businesses will continue to shedjobs and, with product licenses. “We had record layoffs for January, so all thosse companies will be cancelling theirlicenses now,” Dunn “Those are probably going to hit Citrix in the first quarter.” The 52-weeok high was $37.38 on Feb. 21. The 52-week low was $19 on Oct. 10.