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Tibco Software 2Q profit rises 26 percent

Thu, 06/28/2012 - 6:38pm
The Associated Press

Tibco Software Inc. said Thursday that its second-quarter profit rose 26 percent on higher revenue for its products used for loyalty programs, risk management and other business functions.

Tibco's net income was $26.6 million, or 16 cents per share, compared with $21.1 million, or 12 cents per share, a year earlier.

Excluding one-time items such as costs of acquisitions and stock-based compensation, the company said it would have earned 26 cents per share.

Analysts had expected adjusted earnings of 23 cents per share, according to FactSet.

Revenue rose 14 percent to $247.4 million, beating the average forecast for $244.3 million among analysts surveyed by FactSet.

Shares in the Palo Alto company fell 21 cents to close at $26.83 before the report. In extended trading, they rose 49 cents to $27.32.

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