WASHINGTON (dpa-AFX) - TIBCO Software Inc. (TIBX) on Thursday reported a decline in third-quarter profit, as restructuring charges, sales and other expenses impacted operating margins. Nonetheless, excluding one-time costs, earnings easily topped Wall Street estimates.
Sales climbed from a year ago and topped expectations, as TIBCO saw renewed growth at its Infrastructure business.
'We saw further signs of operational improvement this quarter, as our focus on execution generated renewed growth in our infrastructure business,' said CEO Vivek Ranadivé.
The results cheered investors and TIBCO shares gained 4.5 percent in after-hours trade on the Nasdaq.
Ranadivé said the company will continue to invest for growth and innovation, mainly in the areas of integration, analytics and cloud.
TIBCO provides infrastructure software for companies to use on-premise or as part of cloud computing environment.
The Palo Alto, California-based company posted quarterly net income of $21 million or $0.13 per share, compared with $26 million or $0.15 per share last year.
Results for the recent quarter include, among other items, restructuring charges of about $9 million.
Excluding items, adjusted earnings for the quarter were $0.28 per share, compared with $0.27 per share in the prior year.
On average, 20 analysts polled by Thomson Reuters expected earnings of $0.22 per share for the quarter. Analysts' estimates typically exclude special items.
Revenue for the quarter climbed to $271 million from $255 million a year ago. Analysts expected revenue of $258.27 million for the quarter.
Results were impacted by non-GAAP operating margin that slid to 23.7 percent from 27 percent last year.
Total operating expenses escalated to about $156 million from nearly $140 million last year.
TIBCO closed Thursday at $25.25, up $0.65 or 2.64%, on a volume of 9.2 million shares. In after hours, the stock gained $1.18 or 4.67% at $26.43. The stock has trended in a 52-week range of $18.18 - $31.57.
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