Tibco Software (NASDAQ:TIBX) today announced results for its second quarter, which ended on June 3, 2007.
Total revenue for the second quarter of fiscal 2007 was $130.5 million and net income was $9.2 million, or $0.04 per diluted share. This compares to total revenue of $121.2 million and net income of $24.5 million, or $0.11 per diluted share, as reported for the second quarter of fiscal 2006. Net income for the second quarter of fiscal 2006 included a benefit of $9.9 million, or $0.05 per diluted share, related to the release of valuation allowance that had previously been recorded against our deferred tax assets.
On a non-GAAP basis, net income for the second quarter of fiscal 2007 was $14.8 million or $0.07 per diluted share, compared with $16.9 million or $0.08 per diluted share for the second quarter of fiscal 2006.
"The company's performance was within our range of expectations and, on an annual basis, we are confident we will achieve our goal of 10-15% revenue growth," said Vivek Ranadive, TIBCO's chairman and chief executive officer. "I'm very positive about our long-term potential, especially with the addition of Spotfire and the strength of our offerings in service-oriented architecture, business process management and business optimization."
Second Quarter Fiscal 2007 Highlights
- TIBCO closed 73 deals over $100k including 12 deals over $1 million in Q2;
- Average deal size moved up to $680k for deals over $100k;
- Deferred revenue was up 21% year over year; and
- TIBCO made significant sales to both new and existing customers, including BNP Paribas, Bombardier Transportation, CNET Channel, Deutsche Bank AG, Fujitsu Siemens, GFI Group Inc., Sun International, Societe Generale and Telenor.
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