TIBCO SOFTWARE INC filed this 8-K on 06/03/2014
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EX-99.1

Exhibit 99.1

 

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Media Contact:        Investor Relations Contact:
Leslie Moore        Lindsay Andrews
TIBCO Software Inc.        Sard Verbinnen & Co.
(650) 846-5025        (415) 618-8750
lmoore@tibco.com        landrews@sardverb.com

TIBCO Software Reports Preliminary Second Quarter Results

Palo Alto, Calif., June 3, 2014 – TIBCO Software Inc. (NASDAQ: TIBX) today announced preliminary financial results for the fiscal second quarter, ended June 1, 2014. TIBCO will report final results for the second quarter on Thursday, June 19, 2014.

For the second quarter of fiscal 2014, TIBCO expects total revenue to be in the range of $250 to $252 million. License revenue is expected to be in the range of $75 to $76 million. Earnings per share, calculated in accordance with U.S. generally accepted accounting principles (GAAP), are expected to be in the range of $0.00 to $0.01. Non-GAAP earnings per share are expected to be in the range of $0.12 to $0.13. The combined effect of lower-than-expected profits along with the mix of revenue across products and regions is projected to result in a higher than anticipated tax rate on both a GAAP and non-GAAP basis.

These expected fiscal second quarter results are preliminary and subject to TIBCO management and independent auditors completing their customary quarterly closing review procedures.

“After a solid first quarter, revenue fell short of expectations in the second quarter, primarily due to lower-than-expected sales of Spotfire” said Vivek Ranadivé, founder and chief executive officer, TIBCO.

“We again experienced growth this quarter in our core infrastructure and event processing product revenue, but Spotfire sales were less than anticipated. We have several changes under way that we believe will improve Spotfire performance. We also acquired Jaspersoft this quarter, and while not a meaningful contributor to second quarter revenue, it represents an important addition to our analytics strategy going forward,” said Ranadivé.

Management will not be hosting a conference call in association with this announcement. TIBCO will be discussing its second quarter results on a conference call on June 19, 2014 beginning at 4:30 pm ET / 1:30 pm PT. A live webcast of the conference call will be available at www.tibco.com. The call will be available at 877-293-9114 or 706-679-0841, passcode number