Profit Doubles at Tibco

The company edges earnings estimates by a penny.
Publish date:

Updated from 4:51 p.m. EDT

Tibco Software's


fourth-quarter net income more than doubled, and revenue jumped by 72% over last year, the company said after the closing bell Wednesday.

Analysts were expecting the company to equal or surpass consensus estimates, so it was no surprise that the stock only got a modest bump after hours. In recent postclose trading, Tibco shares were up 17 cents, or 1.4%, to $12.09 after gaining 6 cents to $11.92 in the regular session.

License revenue also was up sharply -- increasing to $70.5 million from $40.1 million in 2003.

The company earned a profit of $18.2 million, or 8 cents a share, on revenue of $125.7 million. On a pro forma basis the company earned $20.5 million, or 9 cents a share. Analysts polled by Thomson First Call were expecting an 8-cent profit (on the same basis) and sales of $117.8 million.

Tibco sells software used to integrate diverse applications on corporate networks.

Guidance for the current, or fourth quarter, was generally in line with expectations. The company said it expects to earn a pro forma profit of 8 cents a share on sales ranging from $116 million to $120 million. Analysts were forecasting EPS of 8 cents on sales of $118 million.

For the full fiscal year of 2005, the company told investors to expect a pro forma profit of 36 cents to 38 cents, on sales of $515 million to $525 million. Wall Street was expecting a projected profit of 36 cents on sales of $488.9 million.

In the just-completed fiscal 2004, the company earned 25 cents a share pro forma with revenue of $387.2 million.