Citrix Systems, Inc., software developer reported revenue for the first quarter 2008 rose 22% to $377 million, compared to $308 million a year ago.
Net income was $34 million, or $0.18 per diluted share, compared to $38 million, or $0.20 per share a year ago.
First quarter 2008 financial highlights compared with first quarter 2007
Product license revenue increased 20% and revenue from license updates increased 19%. Online services contributed $62 million of revenue, representing an increase of 31%. Revenue grew in the EMEA region by 31%; the Asia pacific region by 28% and the America’s region by 13%.
The company in the quarter repurchased 4.2 million shares at an average price per share of $35.22.
Second quarter 2008 net revenue is expected to be in the range of $380 million to $390 million, compared to $334 million in the second quarter of 2007.
Diluted earnings per share is expected to be in the range of $0.16 to $0.20 and non-GAAP diluted earnings per share is expected to be in the range of $0.35 to $0.38, excluding $0.07 related to the effects of amortization of intangible assets primarily related to business combinations and $0.11 to $0.12 related to the effects of stock-based compensation expenses.
Net annual revenue is estimated in the range between $1.600 billion to $1.645 billion and the company expects GAAP diluted earnings per share to be in the range of $0.78 to $0.89.
Citrix Systems, Inc. (
CTXS: chart) shares rose $0.66 or 2.1% to $33.07.
Fidelity National Financial, Inc., provider, through its subsidiaries, of title insurance said total revenue for the first quarter 2008 was $1.14 billion, down from $1.37 billion a year earlier.
Net income for the first quarter 2008 was $27.2 million or 13 cents a share, down 67% from $83.4 million, or 37 cents a share for the quarter of 2007.
The first quarter 2007 Specialty Insurance results include a $12.2 million benefit from an adjustment related to the deferral and amortization of certain costs over the life of a policy, consistent with the recognition of the premiums.
FNF also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. FNF is also a leading information services company in the human resource, retail and transportation markets through another minority-owned subsidiary.
William P. Foley, II Chairman said, ""We continue to navigate through difficult economic conditions, particularly in the mortgage and real estate markets, we did see a surge in open order volumes after the 75 basis point inter-meeting fed rate cut, but those elevated levels did not continue through the rest of the quarter. while we peaked above 11,000 open orders per day for a few weeks in late January and early February, open orders have settled down closer to 8,000 to 8,500 per day over the last six weeks.
Even that order volume is the highest level we have seen since the summer of 2007, right before the credit crisis hit the mortgage markets.”
Fidelity National Financial stock (
FNF: chart) fell 94 cents to $16.67 and in the last one year has traded between $28.50 and $12.50.
FMC Corporation, diversified, global chemical maker said total revenue increased 11% in the first quarter 2008 to $750.2 million from $674.1 million in the quarter of prior year.
First quarter net income was $93.9 million or $1.23 per diluted share compared to net income of $45.8 million or $0.59 per share a year ago.
Revenue in agricultural products rose 12% to $277.5 million. Sales gains were driven by buoyant agrochemical market conditions in Asia, Europe and Latin America, particularly in Brazil.
Revenue increased 11% in specialty chemicals to $183.7 million versus the prior-year quarter, due to higher selling prices and volume growth in Biopolymer and lithium specialties. Segment earnings increased 11% to $39.5 million versus the year-ago quarter, as a result of the higher sales.
