Tibco results tops estimates, outlook upbeat

(Reuters) - Business software maker Tibco Software Inc (TIBX.O) posted better-than-expected quarterly results, helped by an increase in license revenue, and forecast strong revenue for the second quarter, sending its shares up 4 percent.

The company expects second-quarter adjusted earnings of 12 cents to 13 cents per share, on revenue of $159 million to $164 million. Analysts on average were looking for earnings of 12 cents a share, on revenue of $154.5 million, according to Thomson Reuters I/B/E/S.

Tibco said it closed 97 deals over $100,000 in the latest first quarter, versus 66 a year ago. The company had 10 deals over $1 million.

The first-quarter business mix is a good indicator of an improving selling environment, the company said on a conference call with analysts.

Separately, Tibco said it bought privately held provider of enterprise data matching software products, Netrics.

Tibco, which makes programs that help computer systems communicate with each other and quickly analyze vast amounts of data, did not disclose financial details of the transaction.

Tibco posted a first-quarter net income of $10.4 million, or 6 cents a share, compared with $5.6 million, or 3 cents a share, last year.

Revenue rose 17 percent to $155 million. License revenue rose 21 percent to $54.2 million.

Excluding special items, the company earned 12 cents a share.

Analysts on average were expecting earnings of 10 cents a share, excluding special items, on revenue of $148.4 million, according to Thomson Reuters I/B/E/S.

Tibco competes with larger rivals IBM Corp (IBM.N) and SAP AG (SAP.N) (SAPG.DE).

Shares of the Palo Alto, California-based Tibco, were up 19 cents, at $10.80 in extended trade. They closed at $10.61 Thursday on Nasdaq.

(Reporting by Saqib Iqbal Ahmed in Bangalore; Editing by Jarshad Kakkrakandy)