Post-Earnings Study - TIBCO Software

LONDON, September 24, 2014 /PRNewswire/ --

Investor-Edge.com has issued free post-earnings study on TIBCO Software Inc. (NASDAQ: TIBX). The company reported its financial results for Q3 FY14 (period ended August 31, 2014) on September 18, 2014. During Q3 FY14, TIBCO Software Inc.'s GAAP and non-GAAP EPS, both came in lower by $0.11 and $0.14, respectively from the last year. Our free coverage report can be accessed at:

http://www.investor-edge.com/register

Earnings Overview 

During Q3 FY14, TIBCO Software Inc.'s total GAAP revenue declined to $255.6 million from $270.9 million in the year ago period. Analysts from Bloomberg were anticipating the company to report GAAP revenue of $272.1 million during the reported quarter. The company's software revenue during Q3 FY14 stood at $85.9 million, compared to $108.0 million in Q3 FY13. Within software revenue, the company's license revenue during the reported quarter decreased to $76.7 million from $105.1 million in Q3 FY13, while the company's subscription revenue rose to $9.2 million in Q3 FY14 from $2.9 million in the preceding year quarter. Further, on a non-GAAP basis, TIBCO's total revenue for the reported quarter declined to $259.6 million from $270.9 million in Q3 FY13. While total non-GAAP software revenue lowered to $89.9 million in Q3 FY14 from $108.0 million in the prior year period, the company's subscription revenue within the non-GAAP software revenue more than quadrupled to $13.2 million from the previous year. The free research on TIBX can be downloaded as in PDF format at:

http://www.Investor-Edge.com/TIBXFreeReport

The company's non-GAAP operating income during Q3 FY14 stood at $40.7 million, resulting in a non-GAAP operating margin of 15.7%, compared with $64.2 million, or a margin of 23.7% in the preceding year quarter. TIBCO Software Inc.'s non-GAAP net income during the reported quarter narrowed to $23.3 million, or $0.14 per diluted share, from $46.3 million or $0.28 per diluted share in the year ago quarter.

Further, on GAAP basis, the company's Q3 FY14 net income declined to $2.6 million, or $0.02 per diluted share, from $21.3 million, or $0.13 per diluted share, in Q3 FY13. The company's GAAP net income underperformed Bloomberg analysts' forecasts of $10.0 million, or $0.06 per diluted share. During Q3 FY 14, the company signed over 100 customers to its new Analytics subscription contracts, and closed 110 deals over $100k, with 14 deals in excess of $1 million in its license revenue. In addition, during the reported quarter, the company launched TIBCO Engage™, a new technology platform that leverages its Fast Data platform and integration technology to harness the opportunities within the customer experience management. Sign up and read the free analyst's notes on TIBX at:

http://www.Investor-Edge.com/TIBX-24092014

Vivek Ranadive, Chairman and CEO of TIBCO, stated that the company accelerated a number of strategic and operational changes during the quarter that resulted in strong growth of subscription sales and a solid sequential improvement in TIBCO's Spotfire business. He however mentioned that the migration of perpetual to subscription-based licensing, together with less-than-expected revenue in Europe, had an impact on the company's overall software revenue results in Q3 FY14. TIBCO's management continues to believe that reaching a broader base of customers through subscription pricing and building a solid base of recurring revenue is the right long-term strategy for the company.

Stock Performance  

A day after the earnings release, on September 19, 2014, shares in TIBCO Software Inc. took a beating of 6.88%, and ended the session at $19.36. The stock has declined further since then, and on the last close, Tuesday, September 23, 2014 it finished at $19.00, 0.42% below its previous day's closing price. The stock vacillated between $18.88 and $19.79 during the last session. A total of 3.95 million shares were traded, which was above its three months average volume of 2.92 million shares. Over the previous three trading sessions and over the last one month, the company's shares have fallen by 8.61% and 9.70%, respectively. Moreover, the stock has lost 15.48% from the beginning of 2014. Shares in TIBCO Software Inc. are trading below their 50-day and 200-day moving averages of $20.53 and $20.92, respectively. Further, the stock traded at a PE ratio of 47.99 and has a Relative Strength Index (RSI) of 27.63. Visit Investor-Edge and access the latest research on TIBX at:

http://www.Investor-Edge.com/TIBXEarningsCoverage

Sneak Peek to Corporate Insider Trading 

In the last one month TIBCO Software Inc. has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on TIBX is available at:

http://www.Investor-Edge.com/TIBXInsiderTrading

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