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Citrix Provides Revenue and Non-GAAP Operating Margin Goals for 2022; Announces Plan to Declare Dividend

At its Financial Analyst meeting held today in conjunction with its customer conference, Synergy, Citrix Systems is providing revenue and non-GAAP operating margin goals for its long-term financial model and announcing the next major step in its ongoing capital return plan.

2022 Financial Goals

Citrix is sharing an updated model for fiscal year ending 2022 as part of its transition to a subscription-based business, saying management is aiming for 2022 revenue growth of at least 6 percent, and a 2022 non-GAAP operating margin goal of at least 33 percent.

Capital Return

Citrix CFO Drew Del Matto stated: "Since the fourth quarter of 2017, Citrix has returned about $1.5 billion of capital to shareholders, and will complete its commitment for returning $2.0 billion of capital by the end of 2018."

Citrix is announcing at Synergy that the company plans to continue targeting 75 percent of free cash flow available for capital return and strategic acquisitions.

As part of that plan, Del Matto said Citrix intends to declare a quarterly cash dividend of $0.35 per share starting in the fourth quarter of 2018.

"Our capital allocation strategy will continue to focus on shareholder return - using cash flow for both buybacks and acquisitions - and now adding a cash dividend," Del Matto stated.

 

Published Wednesday, May 09, 2018 6:36 PM by David Marshall
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Citrix Offers Profits and Non-GAAP Functioning Margin Objectives for 2022 Announces Strategy to Declare Dividend - EMC VMAX - (Author's Link) - May 10, 2018 6:58 AM
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