【出版时间及名称】:2010年4月美国软件行业研究报告
【作者】:瑞士信贷
【文件格式】:pdf
【页数】:35
【目录或简介】:
Virtualization Channel Survey. In this quarterly edition of “Virtual Checks,”
we surveyed 50 virtualization software channel partners regarding March
quarter business trends as well as June quarter outlooks.
■
Citrix Systems: A Q4 Hangover? While Citrix experienced a strong tailwind
during the December quarter from robust demand for XenDesktop with both
new license sales and the company’s “Trade-Up to XenDesktop 4” program
contributing meaningfully, we believe that the initial availability of the tradeup
promotion during the December quarter may have pulled demand
forward from the March quarter into 2009. In fact, 57% of distributors in our
survey indicated that sales fell short of their expectations entering the
quarter, and we believe that Citrix was “pressing” the channel more than
normal at the end of the quarter to close deals. Therefore, for the March
quarter, we do not expect Citrix to report the level of upside to revenue and
bookings that the company has over the last few quarters. However, our
checks suggest that Citrix’s pipeline for the “Trade-Up to XenDesktop 4”
program for the June quarter, which is the last quarter of availability for the
promotion, is robust. Of note, 52% of respondents indicated that the
customers would buy more licenses due to the move from concurrent to
named user licensing with the “Trade-Up to XenDesktop 4” program.
■
VMware: Mojo Riding. Approximately, 62% of respondents stated that
March sales for VMware were in line or better than their expectations at the
beginning of the quarter. We currently forecast an 11.3% sequential decline
in VMware’s license revenue in the March quarter, versus consensus
expectations of an 8.6% sequential decline. We expect VMware to benefit
from the strength of the server market and the recognition of backlog from
the company’s strong December quarter, both of which should position the
company to exceed consensus license revenue estimates.
■
Trends in Desktop Virtualization. 53% of respondents indicated that they
are experiencing strong near-term demand for desktop virtualization, while
35% highlighted that they are encountering slower adoption of desktop
virtualization in the near term but foresee significant long-term potential.
Additionally, 45% of the channel partners responded that Citrix would benefit
the most in the desktop virtualization due to the company’s superior desktop
virtualization product, while 40% indicated that VMware is the best
positioned vendor in desktop virtualization given the company’s stronghold
in server virtualization. Approximately 15% suggested that Microsoft was the
“dark horse” in the desktop virtualization market.