Despite Stock Drop, Citrix Positive About Future
Many tech companies have been battered and beaten on Wall Street's violate markets during the last few months, but one of the most war torn may be middleware maker Citrix Systems Inc. The vendor has suffered a series of blows recently, starting with a 45% stock drop June 12. A management shakeup a week later, in which founder Edward Iacobucci was ousted, caused the stock to fall another 18% in one day.
At PC Expo today, however, execs downplayed the recent upheavals and predicted that the company would bounce back into the good graces of investors soon. "When a company is expanding, transitioning into new markets with new products, there are going to be hiccups now and again," said Matt Dircks, Citrix project management director. "But we have 24 million users and are still highly profitable."
Offering few details, Dircks said new customers and products in the next three months will brighten the outlook onCitrix's future. The latest deal was revealed Monday, when Yahoo signed on as a customer of its NFuse integration software.
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