Citrix Q3 Results Inch Past Estimates; Shrs Slip

Citrx Systems (CTXS) shares are trading lower after hours following a slightly better than expected Q3 financial report.

In the quarter, Citrix posted revenue of $401 million, up from $399 million a year ago, and slightly ahead of the Street at $400.1 million. Non-GAAP profits of 43 cents a share beat the consensus by two pennies. Product license revenue was down 18% in the quarter, a drop offset by a 7% rise in revenue from updates, and a 21% increase in online services revenue. Technical services revenue, including consulting, education and support, was up 20%.

For Q4, the company sees revenue up 3%-4% on a year-over-year basis, which suggests $428.2 million to $432.3 million, about in line with the Street at $430.5 million. For the full year, the company sees revenue up “modestly” from 2008, which is consistent with the Street forecast for $1.59 billion, up from $1.58 billion.

For 2010, Citrix sees revenue of 8%-9% over 2009, which would suggest $1.72 billion to $1.73 billion (assuming you start with the current Street consensus for 2009), about in line with the Street at $1.73 billion.

Citrix said it bought back 2.1 million shares in the quarter for an average price of $35.36.

In late trading, CTXS is down $1.61, or 3.9%, to $39.75.