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| TIBCO Software, Inc. |
| 3165 Porter Drive, Palo Alto, CA 94304 * (650) 846-5000 |
| Business Description | The company is a leading provider of software solutions that enable businesses to integrate internal operations, business partners and customer channels in realtime. Through our products and services, we enable computer applications and platforms to communicate efficiently across local or wide area networks, including the Internet. |
| Offering Information Company has | |||
| Trading As | TIBX (NASNTL) | Industry | High-Tech (SIC 7372) |
| Type of Stock Offered | Common Shares | Filing Date | 05/11/1999 |
| Domestic Shares Offered | 7,300,000 | Offer Date | 07/13/1999 |
| Foreign Shares Offered | 0 | Filing Range | $14.00 - $15.00 |
| Company Shares | 7,300,000 | Offer Price | $15.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.050 |
| Gross Proceeds | $109,500,000 | Selling | $0.630 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 57,981,852 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-5959 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-4850 |
| Deutsch Banc Alex. Brown | Co-manager | (410) 727-1700 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 3 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/1996 | 12/31/1997 | 12/31/1998 | 02/28/1998 | 02/28/1999 | ||
| Revenues | - | - | 30.315 | 35.274 | 52.757 | 11.972 | 18.022 |
| Income from Oper. | - | - | -3.089 | -5.203 | -14.043 | -2.416 | -3.488 |
| Net Income | - | - | -4.640 | -4.663 | -12.951 | -2.315 | -3.762 |
| E.P.S | - | - | - | -0.120 | -0.320 | -0.050 | -0.090 |
| Revenue Growth (%) | - | - | 16.36 | 49.563 | 50.53 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -11.78 | 1.94 | 0.92 | ||||
| Cash Flow - Inv. | -8.15 | -15.68 | 0.81 | ||||
| Cash Flow - Fin. | 12.42 | 11.50 | 0.59 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 02/28/1999 | Financial Ratios | ||||
| Total Assets | 36.16 | Current Assets | 32.93 | Current Ratio | 2.03 |
| Total Liab. | 16.22 | Current Liab. | 16.22 | Debt Ratio | 44.86% |
| Total Equity | 19.94 | Working Cap. | 16.71 | Debt to Equity Ratio | 0.81 |
| Cash | 2.87 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes including working capital and capital expenditures, and for potential investments in acquisitions of complementary technologies. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Wilson, Sonsini, Goodrich & Rosati |
| Bank's Law Firm | Shearman & Sterling |
| Registrar/Transfer Agent | Boston Equiserve Limited Partnership |
| Auditor | Pricewaterhouse Coopers LLC |
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| Industry Competition |
The market for our products and services is extremely competitive and subject to rapid change. In addition, we compete with various providers of single components of application integration solutions, including IBM, New Era of Networks, Iona and BEA with respect to messaging components and Vitria, CrossWorlds, STC and Active Software with respect to other components. We believe that of these companies, IBM has the potential to offer the most complete set of products for application integration. We also face competition for certain aspects of our product and service offerings from major systems integrators. We expect additional competition from other established and emerging companies. In addition, we may face pricing pressures from our current competitors and new market entrants in the future. We believe that the competitive factors affecting the market for our products and services include product functionality and features; quality of professional services offerings; product quality, performance and price; ease of product implementation; quality of customer support services; customer training and documentation; and vendor and product reputation. The relative importance of each of these factors depends upon the specific customer environment. Although we believe that our products and services currently compete favorably with respect to such factors, we may not be able to maintain our competitive position against current and potential competitors. |