Tibco shares rise on strong Q4 sales, profit

Enterprise software maker announces share repurchase program

Shares of Tibco Software (NASDAQ: TIBX) jumped more than 8 percent in after-hours trading Tuesday following news of record quarterly revenues and strong profits. (Also see: Tibco's Q3 profits rise, as does stock in after-hours trading)

Tibco stock surged as high as 22.95 after the regular trading session, 8.3 percent above Tuesday's closing price of 21.18. Tibco's 52-week high in regular trading is 21.54. Through Tuesday's close, TIBX had gained 120 percent in 2010. The maker of integration software for enterprises announced Q4 net income of $37.5 million, or 22 cents a share, compared to $31.7 million, or 18 cents a share, in the year-ago quarter. Excluding one-time items, Tibco's net income was $53.8 million, or 31 cents a share. Record revenue of $241.2 million was 23 percent above the $195.6 million in revenue in last year's third quarter. Consensus estimates called for net income of 28 cents a share on revenue of $228.5 million. For the fiscal year, Tibco reported $754 million in sales and earnings per share of 76 cents, versus 55 cents a share in fiscal 2009. “TIBCO turned in an excellent year in 2010,” Vivek Ranadivé, TIBCO’s chairman and chief executive officer, said in a statement. “As we turn to 2011, we are in an excellent position to benefit from three key trends in enterprise IT: mobility, cloud computing and real-time information. These trends are generating massive amounts of data and increasing IT complexity, which plays to our core strengths of simplifying systems deployment and integration and distilling insight from disparate pools of information.” Tibco also announced a $300 million stock repurchase plan.

Chris Nerney writes about the business side of technology market strategies and trends, legal issues, leadership changes, mergers, venture capital, IPOs and technology stocks. Follow him on Twitter @ChrisNerney.

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