TMCnet News

TIBCO Software Reports First Quarter Results
[March 21, 2014]

TIBCO Software Reports First Quarter Results


(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 21 March 2014 Release date- 20032014 - Palo Alto, CA - TIBCO Software Inc. (NASDAQ: TIBX) today announced results for its fiscal first quarter, which ended on March 2, 2014.

Total revenue for the first quarter of fiscal 2014 was $252.9 million and net income was $12.2 million, or $0.07 per diluted share. This compares to total revenue of $237.8 million and net income of $9.5 million, or $0.06 per diluted share, as reported for the first quarter of fiscal 2013.



On a non-GAAP basis, net income for the first quarter of fiscal 2014 was $31.6 million or $0.19 per diluted share, compared with $31.1 million or $0.18 per diluted share for the first quarter of fiscal 2013. Non-GAAP operating income for the first quarter of fiscal 2014 was $47.2 million, resulting in a non-GAAP operating margin of 18.7%. This compares to non-GAAP operating income of $44.0 million, or a 18.5% non-GAAP operating margin in the first quarter of fiscal 2013. Non-GAAP results exclude amortization of acquired intangible assets, stock-based compensation expense, acquisition related and other expenses, restructuring activities and non-cash interest expense related to convertible debt and assumes non-GAAP effective tax rates of 26% and 19% for the first quarters of fiscal 2014 and 2013, respectively.

'We've started our year with a step in the right direction, showing a record level of total revenue for a Q1.' said Vivek Ranadive, TIBCO's chairman and chief executive officer. 'The world's leading companies are increasingly focused on not just big but fast data, and how to gain a real-time competitive edge from their information. Our unique combination of technologies allows us to create a true business advantage for our customers, or what we call the Two-Second Advantage.' First Quarter Fiscal 2014 Highlights Total revenue of $252.9 million; License revenue of $83.0 million; Non-GAAP operating margin of 18.7%; Non-GAAP EPS of $0.19; Cash flow from operations of $51.8 million; Broad mix of business across major industries including Financial Services, Telecommunications, Energy, Transportation & Logistics, Manufacturing, Government, Retail, and Insurance; TIBCO closed 126 deals over $100k and had 18 deals over $1 million.


Conference Call Details TIBCO has scheduled a conference call for 4:30 pm ET / 1:30 pm PT today to discuss its first quarter results. The conference call will be hosted by InterCall and may be accessed over the internet at www.tibco.com or via dial-in at 877-293-9114 or 706-679-0841. Please join the conference call at least 10 minutes early to register. A replay of the conference call will be available until midnight ET on April 20, 2014 at www.tibco.com or via dial-in at 800-585-8367 or 404-537-3406. The pass code for both the call and the replay is 7022353.

About TIBCO TIBCO Software Inc. (NASDAQ: TIBX) is a global leader in infrastructure and business intelligence software. Whether it's optimizing inventory, cross-selling products, or averting crisis before it happens, TIBCO uniquely delivers the Two-Second Advantage - the ability to capture the right information at the right time and act on it preemptively for a competitive advantage. With a broad mix of innovative products and services, TIBCO is the strategic technology partner trusted by businesses around the world. Learn more about TIBCO at www.tibco.com.

TIBCO, Two-Second Advantage, and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. or its subsidiaries in the United States and/or other countries. Other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.

About Non-GAAP Financial Information This press release includes non-GAAP financial measures. For a description of these non-GAAP financial measures, including the reasons management uses each measure, and reconciliations of these non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with Generally Accepted Accounting Principles (GAAP), please see the section entitled 'About Non-GAAP Financial Measures' and the accompanying table entitled 'Reconciliation of GAAP to Non-GAAP Measures.' Legal Notice Regarding Forward-Looking Statements This release contains forward-looking statements within the meaning of the 'safe harbor' provisions of the federal securities laws. The final financial results for first quarter of fiscal year 2014 may differ materially from the preliminary results presented in this release due to factors that include, but are not limited to, risks associated with the final review of the results and preparation of financial statements. In addition, forward-looking statements such as statements regarding TIBCO's ability to provide products that create a business advantage for its customers, are subject to risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. These risks include but are not limited to: risks arising from adverse changes and uncertainty in domestic and global economies, TIBCO's ability to achieve improved performance and accelerate growth from its investments for growth and innovation, the impact of competition from alternative business models and new product introductions, TIBCO's ability to offer compelling, differentiated products, and the impact of competition from companies that are larger or have greater resources than TIBCO. Additional information regarding potential risks is provided in TIBCO's filings with the SEC, including its most recent Annual Report on Form 10-K for the year ended November 30, 2013. TIBCO assumes no obligation to update the forward-looking statements included in this release.

(c) 2014 Electronic News Publishing -

[ Back To TMCnet.com's Homepage ]