Q2 2013 Earnings Call Transcript

Transcript Call Date 06/20/2013

Operator: Good afternoon, ladies and gentlemen. My name is Dustin. Welcome to TIBCO's Second Quarter 2013 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 800-585-8367 or 404-537-3406. The passcode for both the call and the replay is 91499868.

The following conference call includes forward-looking statements, which represent TIBCO Software's outlook and guidance only as of today and which are subject to risks and uncertainties. These forward-looking statements include, but are not limited to forecast 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 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 financial measures 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 participants on the call are Vivek Ranadive, TIBCO's Chairman and CEO; and Murray Rode, Chief Operating Officer and Interim Chief Financial Officer.

I would now like to turn the call over to Vivek.

Vivek Ranadive - Chairman and CEO: Thanks, Dustin, and thank you all for joining us. I would begin with a few remarks on our second quarter performance and offer some commentary on the broader environment. Murray with then discuss Q2 operating details and provide further guidance before we turn it for Q&A.

In summary, this quarter we delivered results within our guidance range across all metrics. Total revenue came in at $246 million; license revenue was $82 million; non-GAAP operating margins were 18.4% and our non-GAAP EPS was $0.18.

Our recent investments and organizational changes are starting to payoff. Demand for our offerings is strong and we see encouraging signs and a healthy base of activity as we look into the second half of the year.

Now, on the broader environment; it's certainly the case that European market conditions and government spending for example could be stronger. But I have to say, in the market at large, I don't believe that for us there is a spending or demand issue.

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