TIBCO Software reports healthy Q1 financials
Mumbai, Mar 29 (UNI) TIBCO Software Inc, a leading business integration and process management software company that enables real-time business, has posted revenues of USD 114.6 million, while its license revenues stood at USD 48.1 million for its first fiscal quarter ending March 5 this year.
A release issued here today stated that net income for the first quarter of fiscal 2006, on a generally accepted accounting principles (GAAP) basis, stood at USD 5.6 million or USD 0.03 per share on a fully diluted basis and includes stock-based compensation expense of USD 4.6 million due to the implementation of SFAS 123(R).
Net income on a GAAP basis prior to fiscal 2006 did not include employee stock-based compensation expense related to SFAS 123(R).
Non-GAAP net income for the first quarter of fiscal 2006 was USD 12.6 million or USD 0.06 per share, compared with USD 12.7 million or USD 0.05 per share on a fully diluted basis for the first quarter of fiscal 2005.
Pointing out that a reconciliation between net income on a GAAP basis and non-GAAP net income is provided in the accompanying financial tables, the release stated that non-GAAP results exclude stock based compensation expense and amortization of acquired intangibles and assumed a non-GAAP effective tax rate of 39 per cent.
''This was a strong Q1 for TIBCO and a strong start to our fiscal year, especially in the areas of profit and cash flow growth,'' said TIBCO Software Chairman and CEO Vivek Ranadive.
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