December 19, 2003 – TIBCO Software Inc. (Nasdaq:TIBX), a leading enabler of real-time business and the leading independent business integration software company in the world, as demonstrated by market share and analyst reports, announced results for its fourth fiscal quarter ended November 30, 2003. Total revenues for the fourth quarter were $73.0 million. License revenues for the fourth quarter were $40.1 million. Net income for the quarter calculated in accordance with accounting principles generally accepted in the United States was $7.6 million or $.03 per share on a fully diluted basis.
TIBCO had non-GAAP net income for the fourth fiscal quarter of $8.5 million. TIBCO’s non-GAAP net income per share on a fully diluted basis was $.04 for the quarter. Non-GAAP results exclude stock-based compensation charges, amortization of acquired intangibles and technology, and restructuring charges, and assume a non-GAAP effective tax rate of 38%.
"In Q4, we extended our leadership as the industry’s largest independent software provider of integration products for real-time business," said Vivek Ranadivé. "We are committed to growing our company profitably, and capitalizing on the momentum we have going into 2004."
Highlights for TIBCO’s Fourth Fiscal Quarter 2003
- During Q4, we added 64 new customers, including companies such as DHS – State Government of Victoria, Medica, Sprague Energy, Toyota Financial Services and Vivo, among others. In addition, we increased and successfully expanded our business relationships with market leaders such as Agilent, British Petroleum, Philips Semiconductors, Cendant Corporation, KPN, Shell and Toshiba.
- During the fourth quarter, TIBCO also formed OEM relationships with Integra SP and Triple Point Technology and continued to strengthen and expand partnerships with key Systems Integrators and software vendors, such as Accenture, Siebel, EDS, HP and NCR Teradata.
About TIBCO Software Inc.
TIBCO Software Inc. (Nasdaq:TIBX) is the leading independent business integration software company in the world, demonstrated by market share and analyst reports. In addition, TIBCO is a leading enabler of Real-Time Business, 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 2,100 customers around the world and in a wide variety of industries. For more information on TIBCO's proven business integration, business optimization and enterprise backbone solutions, TIBCO can be reached on the Web at www.tibco.com. TIBCO is headquartered in Palo Alto, CA.
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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.
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Use of Non-GAAP Financial Information
TIBCO provides non-GAAP net income and non-GAAP net income per share data as additional information for its operating results. These measures are not in accordance with, or an alternative for, accounting principles generally accepted in the United States and may be different from non-GAAP measures used by other companies. TIBCO believes that presentation of non-GAAP net income and non-GAAP net income per share data provides useful information to management and investors regarding certain additional financial and business trends relating to the company’s financial condition and results of operations.
Legal Notice Regarding Forward-Looking Statements
This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, without limitation, statements regarding TIBCO's continuing extension of its leadership as the industry’s largest independent integration software provider, its commitment to growing the company profitably and its ability to capitalize on the momentum going into 2004. Actual results could differ materially from such forward-looking statements if demand for TIBCO’s products and services or economic conditions affecting the market for TIBCO’s products and services fluctuate, if TIBCO is unable to successfully compete with existing or new competitors, or if TIBCO is unable to successfully execute its plans for future growth. Additional information concerning factors that could cause actual results to differ materially from those contained in the forward-looking statements set forth herein, including TIBCO’s history of losses, the unpredictability of future revenue, TIBCO’s lack of long-term customer contracts, rapid technological and market changes, risks associated with infrastructure software and the volatility of TIBCO’s stock prices are discussed more fully in TIBCO's filings with the Securities and Exchange Commission ("SEC"), including but not limited to its most recent reports on Forms 10-Q and 10-K filed with the SEC on October 14, 2003 and February 5, 2003. Copies of filings made with the SEC are available through the SEC's electronic data gather analysis and retrieval system (EDGAR) at www.sec.gov. TIBCO assumes no obligation to update the forward-looking statements included in this release.