Tibco Weathers Rough Quarter - InformationWeek
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6/21/2002
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Tibco Weathers Rough Quarter

Tibco Software Inc., hit hard by the sluggish economy, reported a net loss triple that of a year earlier. The company, which sells software for integrating business Tibco Software Inc., hit hard by the sluggish economy, reported a net loss triple that of a year earlier. The company, which sells software for integrating business applications, lost $56 million in its second quarter ended May 31, compared with a loss of $17.8 million in the same quarter a year ago. Revenue plummeted to $64.1 million, a 23% drop from a year earlier. CEO Vivek Ranadive blames the poor performance on a slow-moving U.S. economy, customers delaying spending, and lackluster work on the part of the company's sales force.

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