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TIBCO Reports First Quarter Financial Results
Palo Alto, CA, March 20, 2003 - TIBCO Software Inc. (Nasdaq: TIBX), a leading enabler of real–time business and the leading independent business integration software company in the world, as demonstrated by market share and analyst reports, today announced results for its first fiscal quarter ended February 28, 2003. Total revenues for the first quarter were $63.7 million. License revenues for the first quarter were $35.0 million. Net income for the quarter calculated in accordance with accounting principles generally accepted in the United States was $1.7 million or $0.01 per share.
TIBCO had pro forma net income for the first fiscal quarter of $3.7 million. TIBCO's pro forma earnings per share on a fully diluted basis were $0.02 for the quarter. Pro forma results exclude stock-based compensation charges, amortization of acquired intangibles, restructuring charges, and assume a pro forma effective tax rate of 38%.
"The current environment for selling enterprise software continues to be challenging, " said Vivek Ranadivé, TIBCO Chairman and CEO. "However this does not undermine our conviction that our position as a leader in this industry remains bright. With more than 1900 customers and a strong balance sheet, we will continue to focus on our long term success."
View the financial data for this period.
Key Customer and Partner Deals
TIBCO added 77 new customers during the quarter, ending the quarter with over 1900 customers. Its new and expanded customer relationships include NEC, Philips Semiconductor, Telecom Italia, Electronic Arts, Mercury Interactive, Delta, Smart & Final, Chicago Board Options Exchange, Northwestern Mutual Life, Merial, Modesto Irrigation District, Reliance, and ENI. TIBCO also continues to work closely with key Systems Integrators and software vendors, such as Accenture, Ariba, AspenTech, CGEY, Deloitte Consulting, HP, PeopleSoft, PTC, Siebel Systems, Teradata, and Yahoo!, among others.
View the financial data for this period
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About TIBCO Software Inc.
TIBCO Software Inc. (Nasdaq:TIBX) is the leading independent business integration software company in the world, demonstrated by market share and analyst reports. In addition, TIBCO is a leading enabler of real–time business, helping companies become more cost–effective, more agile and more efficient. TIBCO has delivered the value of real–time business, what TIBCO calls The Power of Now™, to over 1,900 customers around the world and in a wide variety of industries. For more information on TIBCO's proven business integration, business optimization, and enterprise backbone solutions, TIBCO can be reached at 650-846-1000 or on the Web at www.tibco.com. TIBCO is headquartered in Palo Alto, CA.
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TIBCO, the TIBCO logo, The Power of Now and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. All 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.
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Legal Notice Regarding Forward–Looking Statements: This release contains Forward–Looking statements regarding TIBCO's business, customers, markets served, products, or other factors including the timing of the release of products, the functionality of products, and the ability of products to meet customers' expectations, needs, or perform as described that may affect future earnings or financial results. Our actual results could differ materially from such Forward–Looking statements. Reasons for why actual results could differ materially include if the products are not released as described, the products do not function as described, the products are unable to successfully meet customers' expectations, needs, or perform as described. Additional information concerning factors that could cause our actual results to differ materially from those contained in the Forward–Looking statements can be found in TIBCO Software's filings with the Securities and Exchange Commission ("SEC"), including but not limited to its most recent reports on Forms 10-Q and 10-K filed with the SEC on October 16, 2002 and February 5, 2003, respectively, which identify important risk factors that could cause actual results to differ from those contained in the Forward–Looking statements including limited independent operating history, history of losses, unpredictability of future revenue, dependence on a limited number of customers, relationship with Reuters Group PLC, rapid technological and market changes, risks associated with infrastructure software and volatility of stock price. Copies of filings made with the SEC are available through the SEC's electronic data gather analysis and retrieval system (EDGAR) at www.sec.gov. TIBCO assumes no obligation to update the Forward–Looking statements included in this document.
