Tibco (NASDAQ:TIBX) Wednesday afternoon warned that results for the fiscal third quarter ended September 2 would fall short of expectations. The company sees revenue of $130 million to $133 million, with license revenue of $50 million to $52 million, and non-GAAP EPS of 4-5 cents. The Street has been expecting $139.94 million and 7 cents.
The software company said it saw “a large amount of potential business fall out in the last few days of the quarter,” and that business was “notably weak in Financial Services and Government.” But it also said that the late changes happened in a variety of geographies and verticals and that most of the issues involved “unanticipated delays in deal-specific approval processes.” The company said competitive issues were not a factor.
Tibco will issues full results on September 27.
A comment: This is going to sound like a warning bell to some investors. There has been concern on the Street that some companies with significant financial sector exposure could be vulnerable to the recent trauma in the mortgage market; and Tibco seems to have just turned itself into Exhibit A.
In after hours trading, Tibco is down 74 cents, or 9%, at $7.10.