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TIBCO Software Inc. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: April 13, 2012 03:24PM

TIBCO Software Inc. (TIBX) filed Quarterly Report for the period ended 2012-03-04. Tibco Software has a market cap of $5.47 billion; its shares were traded at around $33.565 with a P/E ratio of 39.6 and P/S ratio of 5.9. Tibco Software had an annual average earning growth of 23.6% over the past 5 years.



Highlight of Business Operations:

For the first quarter of fiscal year 2012, we recorded total revenue of $225.7 million, an increase of 22% from the first quarter of fiscal year 2011. License revenue was $82.3 million, an increase of 17% from the first quarter of fiscal year 2011. In addition, we generated cash flow from operations of $41.1 million in the first quarter of fiscal year 2012. Diluted earnings per share under generally accepted accounting principles in the United States of America (“GAAP”) was $0.12 in the first quarter of fiscal year 2012 as compared to $0.09 for the first quarter of fiscal year 2011. We ended the quarter with $354.6 million in cash, cash equivalents and short-term investments, and we spent $67.5 million to repurchase shares of our common stock during the first fiscal quarter.

Total revenue in the first quarter of fiscal year 2012 increased by $40.4 million, or 22%, compared to the same quarter last year. The increase was primarily comprised of a $12.2 million, or 17%, increase in license revenue and a $28.1 million, or 24%, increase in service and maintenance revenue.

Service and maintenance revenue in the first quarter of fiscal year 2012 increased by $28.1 million, or 24%, compared to the same quarter last year. Maintenance revenue was 62% and professional services and training revenue was 38% of total service and maintenance revenue for the quarter ended February 28, 2012. The increase for the three months ended February 28, 2012 was primarily due to continued growth in our installed software base and an increase in both the number and size of consulting engagements, reflecting our increased focus on providing more services to our customers.

Cost of service and maintenance in the first quarter of fiscal year 2012 increased by $13.0 million, or 30%, compared to the same quarter last year. The increase in absolute dollars was primarily due to a $8.8 million increase in employee-related expenses, a $1.7 million increase in subcontractor costs, a $1.1 million increase in travel expenses, a $0.6 million increase in facilities expenses and a $0.5 million increase in information technology-related expenses. The increase in employee-related expenses and subcontractor costs was primarily due to an increase in professional services and customer support staff and was also related to increased service revenue in the first quarter of fiscal year 2012.

Sales and marketing expenses in the first quarter of fiscal year 2012 increased by $13.2 million, or 21%, compared to the same quarter last year. The increase was primarily due to a $9.5 million increase in employee-related expenses, a $2.1 million increase in travel expenses and a $0.7 million increase in marketing programs. The increase in employee-related expenses was primarily due to an increase in headcount and variable compensation. The increase in travel expenses was due to increased travel related to sales activities.

Read the The complete Report



Stocks Discussed: TIBX,
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