Citrix Systems growth prospects remain strong, says Cowen Cowen believes both fundamentals growth and stock appreciation for Citrix Systems remains bright. The firm noted the recent pullback in the shares but believes the desktop business is better positioned than most investors believe. Shares are Outperform rated.
Citrix reports restructuring program affecting 700 f/t, 200 p/t workers Citrix announced the implementation of a restructuring program designed to increase strategic focus and operational efficiency. The restructuring will affect approximately 700 full-time and 200 contractor positions, and is expected to result in annualized pre-tax savings in the range of approximately $90M-$100M. Citrix expects to incur pre-tax charges in the range of approximately $40M-$45M related to employee severance arrangements and $9M-$10M related to the consolidation of leased facilities during FY15.