PALO ALTO, Calif., June 18, 2004 – 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 second fiscal quarter ended May 30, 2004. Total revenues for the second quarter were $81.2 million. License revenues for the second quarter were $45.3 million. Net income for the quarter calculated in accordance with accounting principles generally accepted in the United States was $9.6 million or $.05 per share on a fully diluted basis.
TIBCO had non-GAAP net income for the second fiscal quarter of $11.0 million. TIBCO’s non-GAAP net income per share on a fully diluted basis was $.05 for the quarter. Non-GAAP results exclude stock-based compensation charges and amortization of acquired intangibles, and assume a non-GAAP effective tax rate of 38%.
"Increasingly, companies are turning to TIBCO to help derive value out of their existing assets, gain operational efficiencies and improve customer loyalty," said Vivek Ranadivé, Chairman and CEO of TIBCO Software. "Our second quarter performance was punctuated by solid growth and we will continue to grow our business both organically and inorganically."
Highlights for TIBCO’s Second Fiscal Quarter 2004
During Q2, we added 73 new customers, including companies such as H.E. Butt
Grocery Company, New York Power Authority, PepsiCo, Reserve Bank of New Zealand and Wachovia Securities, among others. In addition, we increased our business through successfully expanding the footprint of our solutions with such leading companies as Société Générale, H&R Block, Smart & Final and Wynn Resorts, just to name a few.
Second Quarter Highlights:
- Integration continues to be a primary focus area for companies as they try to leverage massive investments in CRM, ERP, and other systems, and try to orchestrate these assets. As new and existing customers find innovative ways to utilize TIBCO technology to solve business problems, TIBCO is pioneering the next stage of real-time business – Predictive Business™. Whereas real-time business is about responding faster than competitors, springing into action to address customer needs, and capturing opportunities ahead of the competition, Predictive Business is about avoiding problems altogether, anticipating customer needs and growth opportunities, and proactively addressing them.
- As a result of re-entering the Financial Services sector with direct sales into financial services organizations, TIBCO has added 15 new financial services industry customers to our client base. In Q2, we added several new companies including Bank of America, BNP Paribas, Morgan Stanley, ISE, BPU Group and Allstate, just to name a few. These new customers come from various sectors of financial services such as retail banking, trading infrastructure, corporate and investment banking and exchanges.
- On April 22nd, we announced our offer to acquire Staffware PLC and on June 7th, we declared the transaction to be wholly unconditional and Staffware became part of TIBCO. The acquisition of Staffware by TIBCO will broaden TIBCO’s solutions for automating and integrating business processes. Together, TIBCO’s leading real-time business integration platform and Staffware’s business process management technology have the potential to provide an unparalleled solution to today’s marketplace.
Conference Call Details
TIBCO Software has scheduled a conference call for 5:00 p.m. EST today to discuss its fiscal second quarter results. The conference call will be hosted by CCBN and may be accessed over the Internet. To listen to the live call, please go to the Web site at least 15 minutes early to register, download and install any necessary audio software. For those who cannot listen to the live broadcast of the call, a replay will be available through TIBCO Software Inc.’s website shortly after the live call ends.