TIBCO Software (NASDAQ:TIBX), which develops enterprise software, released its earnings this week. There were no fireworks as the company met Wall Street’s estimates.
In the third quarter, revenues increased 14% to $120.4 million. Net income was $11.3 million, or $0.05 per share, which was down from last year’s $13.8 million, or $0.06 per share. But, excluding noncash items, the profits were $15.5 million, or $0.07 per share. And, the cash flows were significant -- $48.1 million in the third quarter.
TIBCO is focusing on a growth market: SOA (service-oriented architecture). Basically, this is using Web-based approaches in synching complex IT environments.
And, as this market continues to grow, it should help the top-line performance of TIBCO. In fact, on the conference call, the CEO talked about how there is much more traction getting new business.
But these things take time. So, for 2007, it may be the time for TIBCO to finally get upside on the stock.