Business software company TIBCO Software Inc. said Thursday fiscal second-quarter profit fell 62 percent, but adjusted results beat analyst expectations.
Profit for the quarter ended June 1 fell 62 percent to $3.5 million, or 2 cents per share, from $9.2 million, or 4 cents per share last year. Excluding stock-based compensation and amortization of intangible assets, net income was 7 cents per share.
Revenue rose 15 percent to $150 million from $130.5 million last year. Strong European sales offset weakness in the U.S., the company said.
Analysts polled by Thomson Financial expected a profit of 6 cents per share on revenue of $148 million.
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