Reuters: Hot Stocks: UPDATE 1-Tibco results beat estimates as infrastructure business grows

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UPDATE 1-Tibco results beat estimates as infrastructure business grows Sep 19th 2013, 20:36 Thu Sep 19, 2013 4:36pm EDT (Compares with analysts' estimates, adds details) * Third-quarter adjusted earnings $0.28/share vs est $0.22 * Revenue $270.9 mln vs est $258.3 mln * Shares rise 6 pct in extended trading Sept 19 (Reuters) - Business software maker Tibco Software Inc reported better-than-expected quarterly results due to growth in its infrastructure business, sending its shares up 6 percent in extended trading. License revenue rose 6 percent to $105.2 million in the quarter. Tibco gets half its license revenue from sales of its service-oriented architecture and core infrastructure business. "We saw further signs of operational improvement this quarter, as our focus on execution generated renewed growth in our infrastructure business," Chief Executive Vivek Ranadive said in a statement. The company had forecast license revenue of $85 million to $95 million in June. Net income fell to $21.3 million, or 13 cents per share, in the third quarter, from $26.1 million, or 15 cents per share, a year earlier. Excluding items, the company earned 28 cents per share. Revenue rose 6 percent to $270.9 million. Analysts on average had expected earnings of 22 cents per share on revenue of $258.3 million, according to Thomson Reuters I/B/E/S. Tibco's software helps customers manage applications, business processes and workflow. Some of its customers include Delta Air Lines, FedEx, Merck and tea company Twinings. Shares of the company closed at $25.25 on the Nasdaq on Thursday. (Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Sriraj Kalluvila) Link this Share this Digg this Email Reprints

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