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Tibco Warns On FY Q4; Shares Slide In Late Trading

Eric Savitz

Tibco Software shares are trading sharply lower in late trading Tuesday after the company warned that results for its fiscal fourth quarter ended November 30 fell short of Street estimates.

For the quarter, Tibco now sees revenue of $292 million to $295 million, with non-gAAP profits of 37-38 cents a share. Street consensus had been $315.95 million and 44 cents a share.

For the full year, the company now expects to report revenue of $1.020 billion to $1.023 billion, with non-GAAP profits of $1.10 to $1.11 a share.

"After 17 consecutive quarters of consistent results, I am disappointed that we fell short this quarter. We, however, strongly believe that our business prospects are as robust as ever," CEO Vivek Ranadivé said in a statement. "It has been our philosophy to be a 'no excuses' management team, and the fact is that we could have done better executing in our core infrastructure business, particularly in the Americas. Having said that, there were additional factors, such as government spending pullbacks and deal delays caused by storm Sandy, which ultimately had a real and tangible impact."

TIBX in late trading is down $3.30, or 13.4%, to $21.42.