Image source: Tibco Software.
Tibco Software (TIBX.DL) just reported results for the first quarter of 2014, sending shares 3.8% higher in after-hours trading.
The business intelligence software specialist reported non-GAAP first-quarter earnings of $0.19 per share on $253 million in total sales. That's up from adjusted earnings of $0.18 per share on $238 million in sales for the year-ago quarter. The results edged out analyst estimates by slim margins.
License sales increased 6% year over year, to $83 million, while service contracts increased at a slightly faster 6.4% clip, to $170 million. As Tibco signed a large number of long-term support agreements, deferred revenue balances increased by 5.3% this quarter to stand at $272 million.
Earnings managed to rise even though some tax credits expired and effective tax rates rose from 19% to 26%.
"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," said TIBCO CEO Vivek Ranadive in a prepared statement. "Our unique combination of technologies allows us to create a true business advantage for our customers, or what we call the Two-Second Advantage."
Tibco shares largely have traded sideways during the last year, and remain about 19% below 52-week highs.
