Shares of Tibco Software (NADAQ: TIBX) fell more than 4 percent on Friday, after the firm reported lower than expected sales.
The business software maker reported first quarter earnings of $10.4 million, or 5 cents per share, up from $5.6 million, or 3 cents per share in the same period one year ago. On an adjusted basis, the firm earned 7 cents per share profit, in line with a poll of analysts from Thomson Financial.
Total revenue for the quarter was $125.7 million, down from $114.6 million for the first quarter of fiscal 2006. Analysts had expected $128 million in sales.
Shares fell 41 cents, or 4.59 percent to close at $8.52 on the Nasdaq Stock Market.
The stock could tread water for a time as we expect another back-end loaded year, and sales investments could keep a lid on margins in the near-term., Goldman Sach's Sarah Friar told clients.
The Palo Alto, Calif.-based firm forecast for the second quarter was a per share profit before items of 7 cents to 9 cents with revenue ranging from $126 million to $136 million.