TIBCO Software Inc. today announced results for its first fiscal quarter, which ended on February 27, 2011. Total revenue for the first quarter of fiscal 2011 was $185.3 million and net income was $16.0 million, or $0.09 per diluted share. This compares to total revenue of $155.0 million and net income of $10.4 million, or $0.06 per diluted share, as reported for the first quarter of fiscal 2010.
On a non-GAAP basis, net income for the first quarter of fiscal 2011 was $27.3 million or $0.16 per diluted share, compared with $20.0 million or $0.12 per diluted share for the first quarter of fiscal 2010. Non-GAAP operating income for the first quarter of fiscal 2011 was $40.5 million, resulting in a non-GAAP operating margin of 22%. This compares to non-GAAP operating income of $30.4 million, or a 20% non-GAAP operating margin in the first quarter of fiscal 2010. Non-GAAP results exclude stock-based compensation expense, amortization of acquired intangible assets, acquisition related and other expenses and restructuring activities and assume a non-GAAP effective tax rate of 31% and 32% for the first quarter of fiscal years 2011 and 2010, respectively.
"Our business continues to gain steam, as we demonstrated again by delivering the strongest license growth for a Q1 in ten years and a 33% increase in non-GAAP EPS," said Vivek Ranadivé, TIBCO's chairman and CEO. "The push for mobility, the emergence of the cloud, and the demand for social collaboration are powerful trends that are generating massive streams of real-time information and creating new possibilities in a connected world. The power and distinctiveness of TIBCO's middleware platform has never been more apparent. Customers new and old, and across geographies and verticals, are leveraging our event-driven solutions to transform their enterprise and build 21st century, context-aware applications."
TIBCO Software Inc. is a provider of infrastructure software for companies to use on-premise or as part of cloud computing environments. Whether it's optimizing claims, processing trades, cross-selling products based on real-time customer behavior, or averting a crisis before it happens, TIBCO provides companies the two-second advantage™ -- 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.
TIBCO, The Power of Now, 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.