Tibco Software (NASDAQ:TIBX) today announced results for its second quarter, which ended on June 1, 2008.
Total revenue for the second quarter of fiscal 2008 was $150.0 million and net income was $3.5 million, or $0.02 per diluted share. This compares to total revenue of $130.5 million and net income of $9.2 million, or $0.04 per diluted share, as reported for the second quarter of fiscal 2007.
On a non-GAAP basis, net income for the second quarter of fiscal 2008 was $12.4 million or $0.07 per diluted share, compared with $14.8 million or $0.07 per diluted share for the second quarter of fiscal 2007. Non-GAAP operating income for the second quarter of fiscal 2008 was $17.5 million, as compared to non-GAAP operating income of $18.7 million in the second quarter of fiscal 2007. Non-GAAP results exclude stock-based compensation expense and amortization of acquired intangible assets, and assume a non-GAAP effective tax rate of 33% for fiscal 2008 and 37% for fiscal 2007.
"Despite weakness in the Americas business, we delivered total company revenue growth of 15% driven by a strong performance from our European Division and significant deals in key vertical markets such as Financial Services, Telecommunications, Insurance and Life Sciences," said Vivek Ranadive, chairman and chief executive officer, TIBCO. "We continue to see opportunity across all geographies and are confident in our market position given our unique technology and the demonstrable value we provide to our global customer base."
Second Quarter Fiscal 2008 Highlights
- Total revenue rose 15% year over year to $150.0 million.
- License revenue rose 5% year over year to $57.7 million.
- Services and maintenance revenue rose 22% year over year to $92.3 million.
- Year-to-date, cash flow from operations exceeded $92 million versus $52.6 million for the same period last year.
- Total deferred revenue rose 43% from a year ago to $154 million.
- The number of license deals over $100,000 rose 25% from a year ago to 91, with 7 deals over $er $1 million.
- TIBCO expanded its business with leading companies in Q2 such as Arcos Dorados, Boehringer Ingelheim, CargoSmart Limited, E. & J. Gallo Winery, Ingram Micro, Sanofi-aventis, Santos, Telecom Italia, TrueCredit, and Vodafone The Netherlands.
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