Dallas, Texas 12/23/2013 (FINANCIALSTRENDS) – Tibco Software Inc. (NASDAQ:TIBX)’s fiscal fourth-quarter income declined 8.7% as the cloud platform supplier’s increase in expenditures masked a jump in income.
The company, which creates data management and analytics software, has gained in recent years as the rising fame of cloud-computing services has enhanced its revenue. However the firm’s bottom line has been stung in recent quarterly periods by margin weak points, in addition to execution matters in Tibco’s core infrastructure biz.
For the quarterly period ended Nov. 30, Tibco registered a profit of $44.5 million, or 27 cents per scrip as compared to $48.8 million, or 29 cents per scrip, posted during the same period of last year. Booting out stock-based reimbursement, reformation and other items, adjusted profit remained flat at 42 cents per scrip.
Revenue climbed up to 6.4% to $315.5 million, strengthened by a 9.7% augmentation in service and maintenance income to $175.7 million and a 2.5% boost in license income, which stood at $139.7 million.
The firm during the month of September anticipated an adjusted income between 38 cents and 40 cents per scrip on $307 million to $315 million in proceeds. The license income growth during the latest quarterly period met the firm’s guidance that called for a range from $136 million to $144 million.
The company’s gross margin came down to 74% as against 74.5%.
Total operating expenditures zoomed 12% to $166.1 million.
The scrip of enterprise software vendor Tibco Software Inc. (NASDAQ:TIBX) dropped 98 cents, or 4% to rule at $23.50, during late trading on December 19.
Tibco Software Inc. (NASDAQ:TIBX)’s chief executive officer Vivek Ranadive stated that the firm “witnessed sturdy, accelerating expansion in the united States and a return to development in Asian market this quarterly period, while closing a record 31 deals over $1 million in license income globally.”
