Citrix Asia Pacific has reported a net loss of AU$788,000 for the 2017 financial year, despite an increase in sales and a reduction of most of its expenses.
The company recorded AU$272 million in revenue against AU$259 million for the year prior, which flowed into a AU$5.8 million bump in gross profit.
On the costs front, the company paid AU$5.1 million less in employee salaries and benefits, almost halved its marketing budget, and reduced its leasing and office costs significantly. However, a net currency loss of almost AU$13 million compared to a AU$4 million gain last year meant the company had higher overall expenses.
The income tax expense included AU$2.2 million paid at Australia's 30 percent company tax rate, AU$5.4 million in written down foreign tax credits, and no R&D tax credits compared to the AU$115,000 recorded last year.
Earlier this year, Citrix reported a fourth quarter net loss of $284 million from revenue of $778 million. For its 2017 financial year, the company reported annual revenue from continuing operations of $2.82 billion, compared to $2.74 billion a year prior.
The company expects to report revenue of $670-680 million for its first quarter ended March 31.