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Citrix shares rise 11.6 percent

By   /   Thursday, October 23rd, 2008  /   Comments Off on Citrix shares rise 11.6 percent

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Shares of Citrix, the Florida-based parent of Goleta-based Citrix Online, surged 11.6 percent, from an Oct. 22 close of $19.97 to $22.29 in mid-day trading. The jump came after the company reported decreased profits but increased revenues after market close Oct. 22.

Citrix listed among the quarter’s highlights a 17 percent increase in revenue from its online products, which include Goleta’s Citrix Online where more than 500 workers are employed on the South Coast. Citrix has yet to release specific figures for its various divisions.

Overall, the parent company’s net income was $49.1 million, compared to $60.7 million in last year’s third quarter. Pre-charge profit was 33 cents per share, falling short of analyst expectations of 37 cents a share, according to a poll by Thompson Reuters.

Revenue, however, rose 14 percent from last year’s third quarter, from $349.9 million $398.9 million.

Teledyne beats expectations
Teledyne’s shares dipped more than 5 percent Oct. 23, despite what seemed good news.

The Thousand Oaks-based aerospace, defense and oil-technology firm on Oct. 23 reported third-quarter net income of $30.9 million, or 84 cents per diluted share, compared with $27.1 million, or 75 cents per diluted share, in the third quarter of 2007.

Third quarter sales rose to $497.6 million, compared with sales of $408.9 million for the same period last year.

Net income beat analyst expectations of 78 cents per share, according to surveys by Yahoo! Finance, and revenue beat the expected $473.3 million.
Despite the news, Teledyne’s shares appeared to be caught up in an erratic trading day, dropping 5.2 percent, from a $43.35 close Oct. 22 to $41.20 mid-day Oct. 23.

Teledyne Technologies has a total workforce of 8,130 employees, according to filings with the U.S. Securities and Exchange Commission.

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