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TIBCO Software Reports Third Quarter Financial Results

  • 30 September, 2005 09:54

<p>FOR IMMEDIATE RELEASE</p>
<p>TIBCO SOFTWARE REPORTS THIRD QUARTER FINANCIAL RESULTS</p>
<p>PALO ALTO, Calif., September 30, 2005 – TIBCO Software Inc. (Nasdaq:TIBX), a leading business integration and process management software company that enables real-time business, today announced results for its third fiscal quarter ended August 28, 2005. Total revenues for the third quarter were $105.9 million. License revenues for the third quarter were $44.4 million. Net income for the quarter calculated in accordance with generally accepted accounting principles was $13.8 million or $0.06 per share on a fully diluted basis.</p>
<p>TIBCO had non-GAAP net income for the third fiscal quarter of $10.2 million. TIBCO’s non-GAAP net income per share on a fully diluted basis was $0.05 for the quarter. Non-GAAP results exclude stock-based compensation charges, amortization of acquired intangibles and restructuring charges and assume a non-GAAP effective tax rate of 38%.</p>
<p>“This quarter was a solid improvement over the past few quarters in many areas of our business,” said Vivek Ranadivé, Chairman and CEO of TIBCO Software.  “We continue to deliver on our vision of building out a platform for application and process integration that is an essential element of any company’s information technology infrastructure. I’m confident about our market position, the potential of our technology and the strength of our business as we begin our fourth quarter and prepare ourselves for 2006.”</p>
<p>Highlights for TIBCO’s Third Fiscal Quarter of 2005</p>
<p>During Q3, TIBCO added 65 new customers and made significant sales to both new and existing customers, including Bank of New York Europe, A.G. Edwards, Forzani Group, CBI Distribution and Bank of America.</p>
<p>Conference Call Details
TIBCO Software has scheduled a conference call for 5:00 p.m. Eastern Time today to discuss its third fiscal quarter results. The conference call will be hosted by CCBN and may be accessed over the Internet at http://www.tibco.com or via dial-in at (800) 289-0730 or (913) 981-5509. Please join the conference call at least 10 minutes early to register. A replay of the conference call will be available through midnight on October 22, 2005 at www.tibco.com or via dial-in at (888) 203-1112 or (719) 457-0820. The pass code for both the call and the replay is 7485012.
About TIBCO Software
TIBCO Software Inc. (NASDAQ:TIBX) is a leading business integration and process management software company that enables real-time business.  Real-Time Business is about helping companies become more cost-effective, more agile and more efficient. TIBCO has delivered the value of Real-Time Business, what TIBCO calls The Power of Now®, to over 2,000 customers around the world and in a wide variety of industries. For more information on TIBCO's proven enterprise backbone, business integration, business process management, and business optimization solutions, TIBCO can be reached at +1 650-846-1000 or on the Web at www.tibco.com. TIBCO is headquartered in Palo Alto, CA.</p>
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<p>Media Contacts:
Christine Lion
TIBCO Software Inc.
+61 2 9458 2121
clion@tibco.com</p>
<p>Fiona Martin
Max Australia
+61 2 9954 3492
fiona.martin@maxaustralia.com.au</p>
<p>TIBCO, the TIBCO logo, The Power of Now and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.</p>
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<p>Use of Non-GAAP Financial Information
TIBCO provides non-GAAP net income and net income per share data as additional measures of its operating results. TIBCO believes that non-GAAP financial measures of income provide useful information to management and investors regarding certain additional financial and business trends relating to the company's financial condition and results of operations. For example, the non-GAAP results are an indication of TIBCO's baseline performance before gains, losses or other charges that are considered by management to be outside the company's core business operational results. In addition, these non-GAAP results are among the primary indicators management uses as a basis for planning for and forecasting of future periods. These measures are not in accordance with, or an alternative for, generally accepted accounting principles in the United States and may be different from non-GAAP measures used by other companies.</p>
<p>Legal Notice Regarding Forward-Looking Statements
This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the federal securities laws, including, without limitation, statements regarding TIBCO’s ability to build out a platform for application and process integration that companies need, the market’s need for an additional build-out of application and process integration, TIBCO’s position in the market, and TIBCO’s potential for technology and the strength of its business in the upcoming year.  Actual results could differ materially from such forward-looking statements if demand for integration products and services or economic conditions affecting the market for integration products and services fluctuate or if TIBCO is unable to compete successfully with new or existing competitors.  Additional information regarding potential risks is provided in TIBCO's filings with the SEC, including its most recent Annual Report on Form 10-K for the year ended November 30, 2004 and Quarterly Report on Form 10-Q for the quarter ended May 29, 2005. TIBCO assumes no obligation to update the forward-looking statements included in this release.</p>

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