WASHINGTON (dpa-AFX) - TIBCO Software Inc. (TIBX) Thursday reported a decline in fourth-quarter profit, due mainly to lower margins even as revenue improved on growth in the Americas and Asia.
However, excluding items, TIBCO's earnings and revenue for the quarter topped Wall Street estimates. But investors were not overly impressed with the results, sending TIBCO shares down 4 percent in after-hours trade on the Nasdaq.
The Palo Alto, California-based company posted fourth-quarter net income of $44.5 million or $0.27 per share, compared with $48.8 million or $0.29 per share last year.
Excluding items, adjusted earnings for the quarter were $70.8 million, compared with $70.7 million a year ago. On a per share basis, adjusted earnings remained unchanged at $0.42.
On average, 21 analysts polled by Thomson Reuters estimated earnings of $0.39 per share for the quarter. Analysts' estimates typically exclude special items.
TIBCO provides infrastructure software for companies to use on-premise or as part of cloud computing environment.
The company's revenue for the quarter climbed to $315.5 million from $296.5 million a year ago, topping analysts' expectations of $312.45 million.
'We saw strong, accelerating growth in the Americas and a return to growth in Asia this quarter...,' said CEO Vivek Ranadive.
Results were impacted by non-GAAP operating margin that shrunk to 30.2 percent from 33.1 percent last year.
TIBCO stock closed Thursday at $24.48, on a volume of 4 million shares on the Nasdaq. In after hours, the stock dropped $0.98 or 4.00%, at $23.50.
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