TIBCO Software Inc. (Nasdaq: TIBX), a leading enabler of real-time business and the world's largest independent business integration software company, today announced results for its third fiscal quarter ended August 29, 2004. Total revenues for the third quarter were $105.9 million.
License revenues for the third quarter were $57.4 million. Net income for the quarter calculated in accordance with accounting principles generally accepted in the United States was $8.6 million or $.04 per share on a fully diluted basis.
TIBCO had non-GAAP net income for the third fiscal quarter of $14.5 million. TIBCO's non-GAAP net income per share on a fully diluted basis was $.07 for the quarter. Non-GAAP results exclude stock-based compensation charges, amortization of acquired intangibles and expensing of acquired in-process research and development, and assume a non-GAAP effective tax rate of 38%.
"Increasingly, companies are turning to TIBCO to obtain value from their existing assets, gain operational efficiencies and improve customer loyalty," said Vivek Ranadive, Chairman and CEO of TIBCO Software. "Our third quarter performance reflects these trends and the commitment and contributions of both the TIBCO and Staffware organizations."
Highlights for TIBCO's Third Fiscal Quarter 2004
During Q3, TIBCO added 82 new customers and made significant sales to both new and existing customers, including Aozora Information Systems Co., Raytheon Company, Beckman Coulter, Inc., Yamaha Corporation of America, Qualcomm Incorporated, KPN Telecom and TNT Logistics.
Stock Repurchase Program
TIBCO's Board of Directors has approved a two-year stock repurchase program pursuant to which TIBCO may repurchase up to $50 million of its outstanding common stock from time to time on the open market or through privately negotiated transactions. The timing and amount of any repurchases will depend upon market conditions and other corporate considerations. As of August 29, 2004, TIBCO had approximately 209 million shares of common stock outstanding.