PALO ALTO, CA -- (Marketwired) -- 06/03/14 -- TIBCO Software Inc. (NASDAQ:
TIBX) today announced preliminary financial results for the fiscal second
quarter ended June 1, 2014. TIBCO will report final results for the second
quarter on Thursday, June 19, 2014.
For the second quarter of fiscal 2014, TIBCO expects total revenue to be
in the range of $250 to $252 million. License revenue is expected to be in the
range of $75 to $76 million. Earnings per share, calculated in accordance with
U.S. generally accepted accounting principles (GAAP), are expected to be in the
range of $0.00 to $0.01. Non-GAAP earnings per share are expected to be in the
range of $0.12 to $0.13. The combined effect of lower-than-expected profits
along with the mix of revenue across products and regions is projected to result
in a higher than anticipated tax rate on both a GAAP and non-GAAP basis.
These expected fiscal second quarter results are preliminary and subject
to TIBCO management and independent auditors completing their customary
quarterly closing review procedures.
"After a solid first quarter, revenue fell short of expectations in the
second quarter, primarily due to lower-than-expected sales of Spotfire," said
Vivek Ranadive, founder and chief executive officer, TIBCO.
"We again experienced growth this quarter in our core infrastructure and
event processing product revenue, but Spotfire sales were less than anticipated.
We have several changes under way that we believe will improve Spotfire
performance. We also acquired Jaspersoft this quarter, and while not a
meaningful contributor to second quarter revenue, it represents an important
addition to our analytics strategy going forward," said Ranadive.
Management will not be hosting a conference call in association with this
announcement. TIBCO will be discussing its second quarter results on a
conference call on June 19, 2014 beginning at 4:30 pm ET / 1:30 pm PT. A live
webcast of the conference call will be available at www.tibco.com. The call will
be available at 877-293-9114 or 706-679-0841, passcode number 54923755. Please
join the call at least 10 minutes early to register. A replay of the call will
be available until midnight PT on July 19, 2014, at www.tibco.com or via dial-in
at 800-585-8367 or 404-537-3406, passcode 54923755.
About TIBCO TIBCO Software Inc. (NASDAQ: TIBX) is a global leader in
infrastructure and business intelligence software. Whether it's optimizing
inventory, cross-selling products, or averting crisis before it happens, TIBCO
uniquely delivers the Two-Second Advantage(R) -- the ability to capture the
right information at the right time and act on it preemptively for a competitive
advantage. With a broad mix of innovative products and services, TIBCO is the
strategic technology partner trusted by businesses around the world. Learn more
about TIBCO at www.tibco.com.
TIBCO, Two-Second Advantage, Spotfire, and TIBCO Software are trademarks
or registered trademarks of TIBCO Software Inc. or its subsidiaries in the
United States and/or other countries. Other product and company names and marks
mentioned in this document are the property of their respective owners and are
mentioned for identification purposes only.
Use of Non-GAAP Financial Information
TIBCO provides non-GAAP earnings per share data as supplemental
information regarding TIBCO's business performance. TIBCO believes that
providing this non-GAAP measure that management uses is useful to investors for
a number of reasons. The non-GAAP measures provide a consistent basis for
investors to understand TIBCO's financial performance on a trended basis across
historical periods. In addition, it allows investors to evaluate TIBCO's
performance using the same methodology and information as used by TIBCO's
management. TIBCO's management excludes these non-operating charges when it
internally evaluates the performance of TIBCO's business and makes operating
decisions, including internal budgeting, performance measurement and the
calculation of bonuses and discretionary compensation, because these measures
provide a consistent method of comparison to historical periods. Moreover,
management believes this non-GAAP measure reflects the essential revenue
generation activities of TIBCO. Accordingly, management excludes from non-GAAP
earnings per share the acquisition-related accounting adjustment to deferred
revenue assumed in business combinations and excludes stock-based compensation
related to employee stock options, amortization of acquired intangible assets,
costs related to formal restructuring activities, acquisition-related and other
expenses, and non-cash interest expense related to convertible debt, as well as
the income tax effects of the foregoing.
Non-GAAP measures are subject to material limitations as these measures
are not in accordance with, or a substitute, for GAAP and thus TIBCO's
definition may be different from similar non-GAAP measures used by other
companies or analysts. Management compensates for these limitations by
evaluating the non-GAAP measure together with the most directly comparable GAAP
Legal Notice Regarding Forward-Looking Statements
This release contains forward-looking statements within the meaning of the
"safe harbor" provisions of the federal securities laws. The final financial
results for the second quarter of fiscal 2014 may differ materially from the
preliminary results presented in this release due to factors that include, but
are not limited to, risks associated with the final review of the results and
preparation of financial statements, including final review of transactions and
consultation with our outside auditors. In addition, forward-looking statements
such as the projection of a higher than anticipated tax rate on both a GAAP and
non-GAAP basis, Jaspersoft representing an important addition to our analytics
strategy going forward, and the ability of TIBCO to successfully implement
changes already underway to improve Spotfire's performance are subject to risks
and uncertainties that could cause actual results to differ materially from such
forward-looking statements. Additional information regarding potential risks is
provided in TIBCO's filings with the SEC, including its most recent Annual
Report on Form 10-K for the year ended November 30, 2013 and Quarterly Report on
Form 10-Q for the quarter ended March 2, 2014. TIBCO assumes no obligation to
update the forward-looking statements included in this release.
TIBCO Software Inc.