Deutsche Bank Comments On TIBCO Software F1Q11 Results

According to Deutsche Bank, TIBCO Software's (NASDAQ: TIBX) strong license is balanced by weaker cash flow.

Deutsche Bank reported that license outperformance led to a quarter as TIBCO Software posted license revenue, revenue and EPS above expectations. “However, deferred revenue was below our forecast, which caused cash flow to be below guidance. We anticipate more insight on the call as the stock is trading down 7% in the after-market. Total revenue of $185m was above our estimate and consensus of $183m. License revenue of $70m was above our estimate of $63m. EPS of $0.16 was above our estimate and consensus of $0.15. Deferred revenue was $207m, below our $212m estimate. Cash flow from operations was $36m, below consensus of $46m. Share repurchase of 1.2m shares vs. 5.8m shares last quarter.”

TIBCO Software closed yesterday at $26.13.