For the fourth quarter, Tibco reported net income of $7.6m, up from $3.3m in the year-ago quarter. Revenue also increased to $72.9m, from $71.2m a year ago, as maintenance and service revenue growth compensated for a decline in software license sales, which dipped to $40.1m, from $41.8m a year ago. For the full year ending November 30, it recorded net income of $11.4m, compared with a net loss of $94.5m, on revenue at $264.2m, down from $273.3m in 2002.
Looking forward, Tibco expects fiscal first-quarter earnings of $0.03 a share and revenue of $68m to $73m, up 8% to 16% from a year earlier. Analysts’ consensus forecast had called for first-quarter revenue of $66.3m, or $0.02 a share.
The Palo Alto, California-based company remains cash-rich, with $604.6m in cash and cash equivalents, and short-term investments.
During the fourth quarter, Tibco reached an agreement with its largest shareholder, Reuters Group. Under the terms of the agreement, Reuters Group will cut its 49% stake in Tibco, and the company can now sell directly to the financial services industry. Reuters agreed to pay Tibco $5m a quarter during a phase-out period.
This article is based on material originally produced by ComputerWire.
