TIBCO Software Q2 Net Tumbles, but Meets Expectations

It wasn't only the Dow Jones posting steep declines on Thursday. TIBCO Software's  (NASDAQ: TIBX  ) results for the company's Q2 were released, revealing a marked decline in bottom line. For the quarter, revenue was $245.8 million, a bit lower than the $247.4 million in the same period the previous year. Net income, however, fell considerably, to $8.7 million ($0.05 per diluted share) from Q2 2012's $26.5 million ($0.16). On a non-GAAP basis, those numbers were $29.7 million ($0.18 per diluted share), and $43.6 million ($0.26), respectively.

Analysts had been projecting revenue of $246.7 million and EPS of $0.18.

TIBCO's bottom-line drop was due largely to a fall in licensing revenue, and increases in operating expenses.


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  • Report this Comment On June 21, 2013, at 1:53 PM, applefan1 wrote:

    Here's the problem with Tibco.

    The past two quarters they haven't sold much in the way of licenses. The majority of the revenues are based on maintenance and support contracts.

    June 2, 2013 quarter

    License $ 82,266,000

    Service and Maint $163,580,000

    Cost of Revenue

    License $ 11,108,000

    Service and Maint $ 62,863,000

    They need to start actually selling Software.

    Ranadive needs to set his priorities. Since he started to get involved with the Kings ownership over the past 6 months, Tibco has slipped.

    Maybe Ranadive should step down from his ownership responsibilities of the Kings and focus on Tibco, OR resign from Tibco so he can spend more time in Sacramento owning a losing franchise.

    He obviously can't do both.

    My advice, sell if you own and wait until Ranadive makes up his mind what he plans on doing.

  • Report this Comment On June 21, 2013, at 2:35 PM, TMFVolkman wrote:

    applefan1, Mr. Randive aside, are you a believer in the company's fundamentals? TIBCO still has a lot of fans out there...

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