Q3 2010 Earnings Call Transcript

Transcript Call Date 09/23/2010

Operator: Good afternoon ladies and gentlemen. I'm Chenille your conference operator. Welcome to TIBCO's Third Quarter .2010 Conference Call. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session. You can also listen to this call via the Internet at Today's call is being recorded and will be available for playback from TIBCO Software's website at In addition, replay will be available through Intercall for one month following today's call by dialing 800-642-1687 from the U.S. or 706-645-9291 internationally. The confirmation code is 98141391.

The following conference call includes forward-looking statements, which represented TIBCO Software's outlook and guidance only as of today which are subject to risks and uncertainties. These forward-looking statements include, but are not limited to, forecasts of revenues, operating margins, operating expenses, outstanding shares and earnings per share for future periods. Our actual results could differ materially from those projected in such forward-looking statements.

Additional information regarding the factors that could cause actual results to differ materially are discussed in the Risk Factors section of TIBCO's most recent reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission. TIBCO's assumes no obligation to update the forward-looking statements included in this call, whether as a result of new developments or otherwise.

This conference call also includes certain financial information that has not been prepared in accordance with generally accepted accounting principles, as we believe that such information is useful for understanding our financial condition and results of operations. For a presentation of the most directly comparable finance measures are calculated in accordance with GAAP and a reconciliation of the differences between the non-GAAP and GAAP financial information, please see our website at

The presenters on the call are Vivek Ranadiv�, TIBCO's Chairman and CEO; Murray Rode, Chief Operating Officer; and Sydney Carey, Chief Financial Officer.

I'd now like to turn the call over to Vivek.

Vivek Ranadiv� - Chairman and CEO: Hello, Chenille. Thank you all for joining us today. I'll begin with summary remarks on our third quarter performance, comment generally upon the state of our business, and then turn it over to Murray and Sydney to discuss the details.

Q3 was another strong quarter for TIBCO. I've said before that we have hit the proverbial tipping point in our business, and the evidence in support of this fact continues to mount. We broke new quarterly records for a non-Q4 in license revenue, total revenue, operating profit, and EPS, while we once again broke new all-time records in services revenue and maintenance and support revenue.

We continue to see the mainstream appeal of our software platform with double-digit growth rates across each of our major regions in the Americas, Europe, and Asia-Pacific; seven different verticals contributing 5% or more of our business; and a healthy mix of deals this quarter, big and small.

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