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Citrix Systems Inc.

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Shares of Citrix Systems have underperformed its industry on a year-to-date basis due to multiple headwinds. High costs have hurt the bottom line for quite some time and the third quarter of 2017 no different. The bottom line declined 7.6% in the third quarter from the year-ago figure due to high costs. Declining revenues from products also pose a severe challenge to the company. Consequently, the top line also shrunk on a year-over-year basis. However, revenues from Software-as-a-Service (SaaS) were impressive in the third quarter of 2017. We are also impressed by the company's efforts to expand its product portfolio. Its strong customer base is an added positive.

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