UPDATE 2-Tibco Software forecasts strong Q1

* Q4 rev up 23 pct at $241.2 mln vs est $228.4 mln

* Q4 license rev up 21 pct at $114.7 million

* Sees Q1 adj EPS $0.14-$0.15 vs est $0.15

* Sees Q1 rev $178-$184 mln vs est $177.6 mln

* Shares up 3 pct post-market (Recasts, adds conference
call details, updates share movement)

BANGALORE, Dec 21 (BestGrowthStock) – Business software maker Tibco
Software Inc (TIBX.O: ) forecast first-quarter revenue above
analysts’ estimates and reiterated its fiscal 2011 earnings
growth forecast.

For the first quarter, it expects adjusted earnings of
14-15 cents a share and revenue of $178-$184 million, of which
$62-$65 million is seen coming from licenses.

Analysts were expecting first-quarter adjusted profit of 15
cents a share on revenue of $177.6 million, according to
Thomson Reuters I/B/E/S.

For 2011 the company expects 15-20 percent earnings per
share growth, which translates to adjusted profit of about
87-91 cents a share, versus consensus of 84 cents a share.

“As we enter 2011, we continue to see strengthening
pipelines and strong demand for our professional services,” the
company said in a conference call with analysts.

Fourth-quarter net income rose 18.3 percent to $37.5
million, or 22 cents a share, while adjusted earnings of 31
cents a share beat consensus for the tenth straight quarter.

Separately, the company, which makes software to coordinate
business processes and manage workflows, said it launched a
share repurchase program for up to $300 million of stock.

Shares of the Palo-Alto, California-based company were up 3
percent at $21.80 in trading after the bell. They closed at
$21.18 on Tuesday on Nasdaq.

They have risen almost 30 percent since the company posted
third-quarter results on Sept. 23.
(Reporting by Sayantani Ghosh in Bangalore; Editing by Roshni
Menon, Vyas Mohan)

UPDATE 2-Tibco Software forecasts strong Q1