TIBCO Software Reports Preliminary Fourth Quarter Results

TIBCO Software Reports Preliminary Fourth Quarter Results 
PALO ALTO, CA -- (Marketwire) -- 12/04/12 --  TIBCO Software Inc.
(NASDAQ: TIBX) today announced preliminary financial results for the
fourth quarter and fiscal year ended November 30, 2012. TIBCO will
report complete and final results for the fourth quarter and fiscal
year on Thursday, December 20, 2012.  
For the fourth quarter, TIBCO expects total revenue to be in the
range of $292 to $295 million. License revenue is expected to be in
the range of $135 to $136 million. Earnings per share, calculated in
accordance with U.S. generally accepted accounting principles (GAAP)
are expected to be in the range of $0.26 to $0.27, with an assumed
tax rate of 22%. Non-GAAP earnings per share are expected to be in
the range of $0.37 to $0.38, with an assumed tax rate of 27%.  
For the fiscal year, TIBCO expects total revenue to be in the range
of $1,020 to $1,023 million. License revenue is expected to be in the
range of $409 to $410 million. Earnings per share, calculated in
accordance with U.S. generally accepted accounting principles (GAAP)
are expected to be in the range of $0.69 to $0.70. Non-GAAP earnings
per share are expected to be in the range of $1.10 to $1.11.  
Non-GAAP earnings per share exclude amortization of acquired
intangible assets, stock-based compensation expense, acquisition
related and other expenses, restructuring activities and non-cash
interest expense related to convertible debt. 
Expected fourth quarter results are preliminary and subject to
TIBCO's management and independent auditors completing their
customary quarterly closing review procedures. 
"After 17 consecutive quarters of consistent results, I am
disappointed that we fell short this quarter. We, however, strongly
believe that our business prospects are as robust as ever," said
Vivek Ranadive, TIBCO's Chairman and CEO. 
"It has been our philosophy to be a 'no excuses' management team, and
the fact is that we could have done better executing in our core
infrastructure business, particularly in the Americas. Having said
that, there were additional factors, such as government spending
pullbacks and deal delays caused by storm Sandy, which ultimately had
a real and tangible impact.  
"On the other hand, we continued to see st
rong growth globally in our
Spotfire business, growth in our European infrastructure business,
and strengthening demand for our cloud offerings, especially tibbr.
We are well on our way to righting the ship in the infrastructure
Americas business, having recently announced new leadership that took
effect December 1. We will continue to make adjustments as needed. In
summary, while we are disappointed in our results this quarter, we
remain confident in the demand for our products, our competitive
position, and our ability to execute and regain momentum quickly." 
There is no conference call scheduled in association with this
announcement. TIBCO will be discussing its final fourth quarter and
fiscal 2012 results on a conference call on December 20, 2012
beginning at 4:30 pm ET / 1:30 pm PT. A live webcast of the
conference call will be available at www.tibco.com. The call will be
available at 877-293-9114 or 706-758-2055, reservation number
77950749. A replay of the call will be available until midnight PT on
January 20, 2013, at www.tibco.com or via dial-in at 800-585-8367 or
404-537-3406, passcode 77950749.  
About TIBCO 
TIBCO Software Inc. (NASDAQ: TIBX) is a provider of infrastructure
software for companies to use on-premise or as part of cloud
computing environments. Whether it's efficient claims or trade
processing, cross-selling products based on real-time customer
behavior, or averting a crisis before it happens, TIBCO provides
companies the two-second advantage(TM) -- the ability to capture the
right information, at the right time and act on it preemptively for a
competitive advantage. More than 4,000 customers worldwide rely on
TIBCO to manage information, decisions, processes and applications in
real-time. Learn more at www.tibco.com. 
Use of Non-GAAP Financial Information 
TIBCO provides non-GAAP net income per share data as supplemental
information regarding TIBCO's business performance. TIBCO believes
that this non-GAAP financial measure is useful to investors because
it excludes non-operating charges. TIBCO's management excludes these
non-operating charges when it internally evaluates the performance of
TIBCO's business and makes operating decisions, including internal
budgeting, performance measurement and the calculation of bonuses and
discretionary compensation, because these measures provide a
consistent method of comparison to historical periods.  
TIBCO believes that providing the non-GAAP measures that management
uses to its investors is useful to investors for a number of reasons.
The non-GAAP measures provide a consistent basis for investors to
understand TIBCO's financial performance on a trended basis across
historical periods. In addition, it allows investors to evaluate
TIBCO's performance using the same methodology and information as
that used by TIBCO's management. Such 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. 
Legal Notice Regarding Forward-Looking Statements 
This release contains forward-looking statements within the meaning
of the "safe harbor" provisions of the federal securities laws. The
final financial results for the fourth quarter of fiscal year 2012
may differ materially from the preliminary results presented in this
release due to factors that include, but are not limited to, risks
associated with the final review of the results and preparation of
financial statements, including final review of transactions and
consultation with our outside auditors. In addition, forward-looking
statements such as statements regarding TIBCO's ability to improve
its sales execution and re-establish its momentum are subject to
risks and uncertainties that could cause actual results to differ
materially from such forward-looking statements. These risks include
but are not limited to: risks arising from adverse changes and
uncertainty in domestic and global economies, TIBCO's ability to
implement new sales leadership in the Americas successfully, and the
impact of competition from companies that are larger or have greater
resources than TIBCO. Additional information regarding potential
risks is provided in TIBCO's filings with the SEC, including its most
recent Annual Report on Form 10-K for the year ended November 30,
2011 and Quarterly Report on Form 10-Q for the quarter ended
September 2, 2012. TIBCO assumes no obligation to update the
forward-looking statements included in this release. 
TIBCO, the two-second advantage 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. 
Media Contact:
Leslie Moore
TIBCO Software Inc.
(650) 846-5025
lmoore@tibco.com 
Investor Relations Contact:
Matthew Langdon
TIBCO Software Inc.
(650) 846-5747
mlangdon@tibco.com 
 
 
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