WASHINGTON (dpa-AFX) - TIBCO Software Inc. (TIBX) Wednesday reported a higher profit for the fourth quarter on a 20 percent growth in revenue and improved margin. As well, earnings and revenues for the quarter came in ahead of Street estimates.
For the fourth quarter, TIBCO Software's net income rose to $51.9 million or $0.30 per share from $37.5 million or $0.22 per share in the year-ago period.
On a non-GAAP basis, net income for the quarter was $72.2 million or $0.42 per share, up from $53.8 million or $0.31 per share in the year-ago quarter.
On average, 14 analysts polled by Thomson Reuters expected earnings of $0.35 per share for the quarter. Analysts' estimates typically exclude special items.
Non-GAAP results exclude amortization of acquired intangible assets, stock-based compensation expense, acquisition related and other expenses and restructuring activities. Results for the reporting period included $8.8 million in restructuring expenses, primarily due to workforce related charges such as payments for severance and benefits.
Revenues for the quarter grew 20 percent to $289.5 million from $241.2 million in the year-ago quarter. Fourteen Street analysts had a consensus revenue estimate of $281.3 million for the quarter.
Tibco reported a strong mix of business across major industries including Financial Services, Telecommunications, Energy, Government, Manufacturing, Life Sciences, and Transportation & Logistics. The company closed 181 deals over $100k and had 28 deals over $1 million.
Non-GAAP operating margin for the quarter rose to 34 percent from 32 percent last year.
For the full year, Tibco's net income rose to $112.4 million or $0.65 per share from $78.1 million or $0.46 per share last year. Adjusted net income for the year was $190.3 million or $1.01 per share compared with $129.8 million or $0.76 per share last year. Revenue for the full year grew to $920.2 million from $754.0 million in fiscal 2010. The Street expected earnings of $0.95 per share for the year on revenues of $912.0 million.
Vivek Ranadivé, TIBCO's chairman and chief executive officer, said, 'As we turn to 2012, we will focus on expanding our sales coverage, extending our event-driven platform, and continuing to broaden the range of industries we serve. Our offerings and the demands of the 21st century enterprise have never been better aligned.'
TIBX closed Wednesday's regular trading at $22.00, down $1.56 or 6.62%, on the Nasdaq. In after hours, the stock gained $1.01 or 4.59%. Over the past year, the stock traded in a range of $18.43 - $31.45.
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