Corporate Technology Spending Expected to Rise in 2013


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NASDAQ:INFA / NASDAQ:CTXS
03/08/2013 [ACCESSWIRE]

The ShinesRooms.com Provides Stock Research onInformatica Corp. and Citrix Systems Inc.

New York City, New York -- 2012 was a challenging year for the technology industry as businesses cut spending amid an uncertain global macroeconomic environment. However, outlook for global economy has improved significantly since the start of this year, thanks to a rebound in China and strong recovery in U.S. This should boost technology spending from businesses and benefit companies such as Informatica Corporation (NASDAQ: INFA) and Citrix Systems Inc. (NASDAQ: CTXS). Businesses scaled back spending on information technology in 2012 amid an uncertain economic environment. While the recovery in the U.S. economy was in early stages, there were concerns over the fiscal cliff. Meanwhile, the Eurozone debt crisis continued to weigh down business confidence. There were also concerns over a hard landing China. However, the outlook for the global economy has improved significantly since the start of this year. The main reason has been a strong recovery in the U.S. economy. The Chinese economy is also picking up pace, while concerns over the Eurozone debt crisis have eased significantly since the start of this year, thanks to actions taken by the European Central Bank.

Access our free reports onInformatica Corp. and Citrix Systems Inc.Traders can also connect to our Wall Street Trading Floor where our research desk and market pros are standing between 8:50 am to 4:15 pm ET at

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The biggest concern for businesses last year was the fiscal cliff. However, a last-minute deal signed at the start of this year, helped in averting tax hikes and automatic spending cuts. This has boosted business confidence and is also likely to boost investment from businesses, especially in technology.

According to Gartner, the strongest growth categories in the technology sector in 2013 will be devices, which include everything from printers to tablets, and enterprise software. Gartner expects devices and enterprise software to grow over 6% in 2013. Overall, Gartner expects global IT spending across all sectors to grow by $249 billion to $3.74 trillion in 2013.

Back in January, Informatica Corporation reported its financial results for the fourth quarter ended December 31, 2012. The company reported quarterly revenue of $234.7 million. For full year 2012, Informatica reported record total annual revenue of $811.6 million. GAAP earnings for the fourth quarter were $0.28 per share, whole GAAP earnings for full year 2012 were $0.83 per share. Our free research report onInformatica Corp.can be downloaded upon registration at 

http://www.ShinesRooms.com/INFA030813.pdf 

Sohaib Abbasi, Chairman, President and CEO of Informatica Corporation, said that the company’s fourth quarter results demonstrate its progress to regain operational discipline. Abbasi further said that the company’s conviction in its long-term opportunity is firmer than ever for three reasons; increasing addressable market, promising new opportunities driven by market and technology trends of big data and cloud computing, and the company’s own measures to more effectively scale its business.

Citrix Systems Inc. also reported its fourth quarter results back in January. The company’s revenue for the quarter was $740 million, compared to $619 million reported for the same period in the previous year. Net income for the quarter was $114 million, or $0.60 per share. On a non-GAAP basis, the company reported net income of $169 million, or $0.90 per share for the quarter.Citrix Systems Inc.free research is available today at 

http://www.ShinesRooms.com/CTXS030813.pdf

 

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