Tibco posts $63.3M Q3 revenues

By SiliconIndia   |   Friday, 20 September 2002, 07:00 Hrs
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TIBCO Software Wednesday announced that it has posted revenues of $63.3 million for the third quarter. The company posted losses of $45.4 million or $0.22 per share, narrowly beating Wall Street forecasts.

PALO ALTO: Results for the quarter include $20 million of restructuring charges principally due to an additional write-down of $18 million in excess facilities, and further staff reductions, the company said.

TIBCO had pro forma net income for the third fiscal quarter of $1.0 million, resulting in pro forma earnings per share of $0.00. Pro forma results exclude stock-based compensation charges, amortization of acquired goodwill and intangibles, restructuring charges, and deferred tax valuation allowance, and assume a pro forma effective tax rate of 38%.

"Although the environment remains challenging, Global 2000 companies continue to look to TIBCO to solve their integration problems,” said Vivek Ranadivé, TIBCO Software chairman and CEO. “It is our experience and expertise that our customers continue to count on to transform their businesses."

The company added 97 new customers during the quarter and strengthened its leadership position by growing in important vertical markets, such as telecommunications, financial services, energy, and manufacturing. TIBCO ended the quarter with over 1,800 customers. Its new and expanded customer relationships include Vodafone, Philips Medical Systems, Telstra, Procter & Gamble, Network Appliance, and Telesoft.

TIBCO continued to focus on Strategic Alliances such as Deloitte Consulting, Accenture, Siebel Systems, Teradata, and PTC, among others. In addition, TIBCO is expanding its embedding programs by leveraging TIBCO BusinessWorks to enhance its industry footprint, the company claimed in an official release.

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