Tibco reports Q1 results

NEW DELHI: TIBCO Software Inc., a business integration and process management software company, has reported a net income of $5.6 million for the first fiscal quarter ended March 5, 2006.

Total revenues for the first quarter were $114.6 million.

“This was a strong Q1 for TIBCO and a strong start to our fiscal year, especially in the areas of profit and cash flow growth,” said Vivek Ranadivé, chairman and CEO, TIBCO. “I continue to see a significant opportunity for TIBCO as the foundation for enterprise software shifts from being database-centric to being SOA- and integration-centric.”

During the first quarter, the company added 56 new customers and made significant sales to both new and existing customers, including Telecom Italia, Qwest, Devon Canada, Smart & Final, Merrill Lynch and Merck.

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