Tibco posts $63.7 M Q1 revenue

Friday, 21 March 2003, 08:00 Hrs
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PALO ALTO: Tibco Software Inc. (Nasdaq:TIBX), an independent business integration software company, Friday total revenues of $63.7 million for the first quarter of fiscal 2003.

License revenues for the first quarter were $35.0 million. Net income for the quarter calculated in accordance with accounting principles generally accepted in the United States was $1.7 million or $0.01 per share.

Tibco's pro forma earnings per share on a fully diluted basis were $0.02 for the quarter. Pro forma results exclude stock-based compensation charges, amortization of acquired intangibles, restructuring charges, and assume a pro forma effective tax rate of 38%.

"The current environment for selling enterprise software continues to be challenging," said Vivek Ranadive, Tibco Chairman and CEO. "However this does not undermine our conviction that our position as a leader in this industry remains bright. With more than 1,900 customers and a strong balance sheet, we will continue to focus on our long term success."

Tibco added 77 new customers during the quarter, ending the quarter with over 1,900 customers. Its new and expanded customer relationships include NEC, Philips Semiconductor, Telecom Italia, Electronic Arts, Mercury Interactive, Delta, Smart & Final, Chicago Board Options Exchange, Northwestern Mutual Life, Merial, Modesto Irrigation District, Reliance, and ENI. TIBCO also continues to work closely with key Systems Integrators and software vendors, such as Accenture, Ariba, AspenTech, CGEY, Deloitte Consulting, HP, PeopleSoft, PTC, Siebel Systems, Teradata, and Yahoo!, among others.
Source: IANS
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