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Tibco Software Shares Slip after Q1 Results (TIBX)

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Shares of Tibco Software Inc. (NASDAQ: TIBX), a provider of middleware and infrastructure software, are down sharply in trading today after the company reported its first-quarter financial results.

TIBX shares fell to an intra-day low of $30.14 in trading, and at last check, the stock was down 4.56% to $30.97 on above average volume of 6.77 million.


For the first quarter ended March 3, Tibco Software reported a profit of $20.6 million, or $0.12 per share, compared with $16 million, or $0.09 per share reported for the same period in the previous year. Excluding one-time items, TIBX reported a profit of $0.20 per share, compared with $0.16 per share reported for the same period in the previous year.

Revenue for the first quarter rose 22% to $225.7 million. This is slightly higher than the company’s December guidance range of $220-$225 million. License revenue for the quarter rose 18%. The company closed 20 deals of more than $1 million in the first quarter.

Operating margin for the quarter rose from 10.2% to 10.7% in the first quarter.

Tibco also announced that its Board authorized up to $300 million in new stock buybacks, replacing an existing repurchase program that had around $38 million remaining.

Vivek Ranadive, Chairman and CEO of Tibco Software, said that once again the company got off to a very strong start with 22% total revenue growth in the first quarter. Ranadive further said that the company’s innovation leadership, real-time DNA, and enterprise experience in the world’s most demanding environments are all coming together at a very exciting time in the marketplace and its infrastructure platform positions it well as a beneficiary of the most powerful technology trends of its time; big data, cloud, social and mobility.

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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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