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UPDATE 1-Tibco Software estimates disappointing quarter, shares fall
June 3, 2014 / 10:33 PM / 4 years ago

UPDATE 1-Tibco Software estimates disappointing quarter, shares fall

* Expects 2nd-qtr adj profit/share $0.12-$0.13 vs est $0.21

* Expects revenue $250-$252 mln vs est $267.5 mln

* Says Spotfire sales were less than anticipated

* Shares fall about 15 pct after the bell (Adds share movement, customers)

June 3 (Reuters) - Tibco Software Inc estimated a much lower-than-expected profit for the second quarter, hurt by disappointing sales of its software, Spotfire.

The business software maker’s shares fell about 15 percent in after-hours trading.

Tibco, whose customers include Delta Air Lines Inc, FedEx Corp and Merck & Co Inc, estimated adjusted earnings of 12-13 cents per share for the quarter ended June 1.

Analysts on average were expecting earnings of 21 cents per share, according to Thomson Reuters I/B/E/S.

The company said it expects revenue of $250-$252 million, below the average analyst estimate of $267.5 million.

Tibco in March forecast adjusted earnings of 20-22 cents per share on revenue of $263-$271 million.

The company will report results for the quarter on June 19.

Tibco’s shares were at $17.75 in extended trading after closing at $20.79 on the Nasdaq on Tuesday. (Reporting By Sampad Patnaik in Bangalore; Editing by Don Sebastian and Maju Samuel)

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