Business software maker Tibco Software has posted revenue of $150.3m in the third quarter of fiscal 2009, down 7.4% from $162.3m in the same period last year. License revenue was down to $57.3m from $67.5m, while service and maintenance revenue dropped to $93m from $94.8m in the same period last year.
For the quarter ended August 30, 2009, the company posted an operating income of $20.5m, up from $15.25m in the same period last year. Net income increased 34% to $14.9m, or $0.09 per diluted share, compared to $11.1m or $0.11 per diluted share in the third quarter of fiscal 2008.
On a non-GAAP basis, net income for the third quarter was $22.1m or $0.13 per diluted share, compared to $19.6m or $0.11 per diluted share in the third quarter of fiscal 2008. Non-GAAP operating margin was 22%, compared to 18% in the third quarter of fiscal 2008.
Vivek Ranadive, chairman and CEO of Tibco, said: “During Q3, we exceeded guidance targets for revenue and profitability, we repurchased $50m of stock, and we acquired DataSynapse, a leader in the grid and cloud computing space. Year to date, we have demonstrated strong operating leverage in our model by delivering an incremental $0.08 in non-GAAP EPS over the first three quarters of 2008.
“Looking forward, we are well positioned to benefit from the accelerating shift away from database-centric architectures designed to handle transactions and towards bus-based architectures designed to handle events.”
