TechWeb

Tibco Weathers Rough Quarter

Jun 23, 2002 (08:06 PM EDT)

Read the Original Article at http://www.informationweek.com/news/showArticle.jhtml?articleID=6504338


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.