TIBCO Expects Q4 Earnings Miss
Middleware software specialist TIBCO (NAS: TIBX) tamped down expectations for its fourth quarter this week, saying it expects relatively weak results. According to its preliminary calculations, Q4 revenue will be in the range of $292 million to $295 million and non-GAAP EPS will clock in at $0.37-$0.38. Analysts had been expecting around $316 million and $0.44, respectively.
Company chairman and CEO Vivek Ranadivé was quoted in the company's statement as saying "we could have done better executing in our core infrastructure business, particularly in the Americas." He added, however, 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."
TIBCO also provided full-year guidance. The company expects it will bring in around $1.02 billion in revenue and post non-GAAP EPS of $1.10 to $1.11.
TIBCO plans to discuss its final Q4 and full-year results in a conference call on Dec. 20.
The article TIBCO Expects Q4 Earnings Miss originally appeared on Fool.com.
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