Integration software maker Tibco Software warned Tuesday that its revenue and earnings were lower than expected in its just-ended quarter, marking the second quarter in a row the company has fallen short.
Several large deals didn't close before Tibco's second quarter ended on May 27, which affected Tibco's results for the North American region and its financial services business. The company now expects its revenue for the quarter to be $100 million to $102 million, with per-share earnings of $0.02 or $0.03. Excluding acquisition amortization and restructuring charges, Tibco expects per-share earnings of $0.04. On that basis, the consensus forecast of analysts polled by Thomson First Call was for per-share earnings of $0.06. The consensus revenue expectation was $108 million.
Tibco could be the first snowball in an avalanche: For the last few years the second quarter of the year (which ends June 30 for many companies) has been a grim one for software companies, marked by earnings warnings from many top vendors. Last year, the list of those posting lower-than-forecast results included PeopleSoft Inc., Siebel Systems Inc., Computer Associates International Inc., Veritas Software Corp., BMC Software Inc. and WebMethods Inc.
Shares of Palo Alto, California-based Tibco (ticker symbol: TIBX) were down 3 percent in Tuesday afternoon trading on the Nasdaq exchange.