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TIBCO Q2 Earnings Call Transcript
Author: 123jump.com Staff
123jump.com
Last Update: 1:12 AM ET June 30 2009

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TIBCO second quarter net revenue declined 4.8% to $142.7 million while net income surged 188% to $10.1 million due to lower operating expenses. Earnings per share were 6 cents per share as against 2 cents a year ago.


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John DiFucci – JP Morgan

Okay great thanks a lot and nice execution.

Vivek Ranadive

Well thank you.

Operator

We’ll take our next question from Derek Bingham with Goldman Sachs

Derek Bingham - Goldman Sachs

Hi everybody and let me add my compliments on a nice job. I wanted to ask last quarter you talked about seeing some real improvement in March kind of versus, in terms of customer intent and customer activity versus what the case was in January and February, and I was just curious to get a little more granularity on this recent quarter. If things felt better in March how different does May feel from the month of March? Have things continued to improve or have things kind of plateaued a little bit in terms of the feedback you’re getting from customers and their activity.

Vivek Ranadive

What we’re seeing is that the nature of the conversations is changing and so the early part of the year the focus was on cost cutting and now we’re starting to have conversations about how do you start growing revenue again. So we’re seeing a shift. People have cut all the costs and now they’re looking to start making investments and growing their revenue and how do we serve our customers better. We’re also seeing certain areas, even areas like financial services, maintenance continues to be strong, but internationally we’re actually starting to have conversations again about how they can start investing and growing revenue. So the window, we can see the light at the end of the tunnel, the nature of the conversations is more positive than it was a few months ago.

Derek Bingham - Goldman Sachs

I think on that the conventional has always been that Europe is kind of lagging the recovery by six months or so in terms of what’s happening in the U.S. Do you agree with that assessment from what you’re seeing?

Vivek Ranadive

We wouldn’t agree with that assessment. We’re actually, it depends on the sector. Some sectors like financial services we’re actually seeing more strength in Europe or internationally than we’re seeing within the United States. We’re obviously seeing strength in government in the United States so it really depends on the sector. Murray, do you want to add to that?

Murray Rode

I think that is the important point, it does vary by sector. Europe still seems to be pretty strong for us so I’m not sure at least at this point that we’re seeing what you referenced there.

Derek Bingham - Goldman Sachs

Okay thanks very much.

Vivek Ranadive

Thank you.
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