On March 29, enterprise software specialist TIBCO Software
- Like I said, earnings growth was easy to come by, as the year-ago result was rather disappointing. Revenues failed to impress, but cash flows came in strong -- overall, that's not a bad quarter, as TIBCO delivered where it matters most.
- Management likes to talk about pro forma margins rather than the standard GAAP varieties. But no matter how you slice it, margins improved from top to bottom compared to last year.
- The company signed 13 million-dollar deals in the quarter, and added high-profile customers like Electronic Arts
(NASDAQ:ERTS) , Symantec(NASDAQ:SYMC) , and Wells Fargo(NYSE:WFC) .
(Figures in millions, except per-share data)
Income Statement Highlights
|
Q1 2007 |
Q1 2006 |
Change |
|
|---|---|---|---|
|
Sales |
$125.7 |
$114.6 |
9.7% |
|
Net Profit |
$10.4 |
$5.6 |
85.5% |
|
EPS |
$0.05 |
$0.03 |
66.7% |
|
Diluted Shares |
216.3 |
220.2 |
(1.8%) |
Get back to basics with the income statement.
Margin Checkup
|
Q1 2007 |
Q1 2006 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
72.2% |
71.5% |
0.8 |
|
Operating Margin |
9.2% |
7.4% |
1.8 |
|
Net Margin |
8.3% |
4.9% |
3.4 |
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$547.7 |
$499.1 |
9.7% |
|
Accounts Rec. |
$102.4 |
$97.2 |
5.4% |
|
Liabilities |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Accounts Payable |
$9.6 |
$10.2 |
(5.4%) |
|
Long-Term Debt |
$45.8 |
$47.9 |
(4.3%) |
The balance sheet reflects the company's health.
Cash Flow Highlights
|
Q1 2007 |
Q1 2006 |
Change |
|
|---|---|---|---|
|
Cash From Ops. |
$42.0 |
$30.8 |
36.2% |
|
Capital Expenditures |
$2.6 |
$2.8 |
(7.9%) |
|
Free Cash Flow |
$39.3 |
$28.0 |
40.7% |
|
$15.7 |
$10.2 |
53.9% |
Free cash flow is a Fool's best friend.
Related Foolishness:
- Foolish Forecast: TIBCO Crossing the Rubicon
- TIBCO's Tip-Top Trade Tidings
- SOA: The New Software Bazaar
- Foolish Fundamentals: Free Cash Flow
Electronic Arts is a Motley Fool Stock Advisor recommendation, and Symantec is a Motley Fool Inside Value pick. TIBCO appears to have a discerning eye for new customers. Read all about it with a couple of free 30-day trial passes.
Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean.
At the time of publication, Anders Bylund had no position in any company mentioned. Fool rules are here.
