Tibco Trounces Targets
Tibco Software (TIBX) reported fourth-quarter results Wednesday that handily flew past company and analysts' targets, citing "significant sales" to new and existing customers.
Tibco shares soared 73 cents, or 10%, to $8.03 in recent after-hours trading after closing the regular session up 23 cents, or 3.3%, at $7.30.
Before that jump, the shares had shed 46% of their value from a 52-week intraday high of $13.50 reached at the end of last year.
The Palo Alto, Calif.-based integration software maker earned $26.6 million, or 12 cents a share, in the fourth quarter ended Nov. 30, up from $18.2 million, or 8 cents a share, a year earlier.Excluding certain items, Tibco's non-GAAP earnings totaled $21.8 million, or 10 cents a share. Total revenue for the fourth quarter rose nearly 7% to $134.4 million from $125.7 million for the same period a year ago. Analysts were expecting the company to earn 6 cents a share, before items, on $115.7 million in sales in the fourth quarter, according to Thomson First Call. The company's guidance called for earnings of 6 cents a share and sales between $114 million to $116 million, but some analysts suggested that the company set the bar low and could exceed its targets with some large deals. License revenue -- a key benchmark of new business -- totaled $66.8 million, far exceeding the company's guided range of $50 million to $52 million and analysts' target of about $51 million.
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