Tibco: Riding the Bus - ' Reference Checks '
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& Tibco Operating Results">
CENDANT HOTEL GROUP
Nick Forte
Dir., Application Architecture
(973) 496-2641
Project: Hospitality subsidiary is using ActiveEnterprise, Rendezvous, and adapters—with InConcert waiting in the wings.

IOMEGA
Kevin Watson I.T. Business Partner, Supply Chain Integration
(801) 332-3756
Project: Planning a phased transition to Tibco platform, beginning with BusinessWorks.

UNION PACIFIC
Mark S. Davis
Asst. VP, e-Business
(402) 271-3032
Project: Rail and freight giant is at or near current release of Rendezvous, Integration Manager, BusinessConnect and several adapters.

LIMITED BRANDS
Herb Berger
Manager, Advanced Technology Group
(614) 415-7000
Project: Has been using ActiveEnterprise, ActiveExchange, and ActivePortal since 2000.

HARRAH'S
Tim Stanley
CIO
(702) 407-6162
Project: Hotel-and-casino signed on in June 2002; uses Rendezvous, Integration Manager and a bunch of adapters, including one for Teradata.

MERIDIAN HEALTH CARE MANAGEMNT
Stephen Tiffany
Director, I.T.
(818) 673-6241
Project: Health-care-services company is on BusinessWorks.

SEAGATE
Pranab Sinha
Executive Dir., I.T.
(831) 438-6550
Project: In 1999, storage company signed on to ActiveEnterprise, replacing a home-grown system.

MICROMUSE
Marc Wilkinson
CTO
+44 20 8875-9500
Project: Pay attention, now: Years ago, Micromuse was using Talarian; Talarian was acquired by Tibco. Riversoft was using Tibco; then Micromuse acquired Riversoft. Got it?

The executives listed here are all users of Tibco's software. Their willingness to talk has been confirmed by Baseline.

TIBCO OPERATING RESULTS*
	2003FYTD*	2002FY	2001FY
Revenue	$63.6M	$273M	$322M
Gross margin	78.5%	77.5%	79.0%
Operating loss	-$2.3M	-$86.7M	-$54.8M
Net income	$1.7M	-$94.6M	-$13.2M
Net margin	1.8%	-34.6%	-4.1%
Earnings per share	$0.01	-$0.46	-$0.07
R&D expenditure§	$17.5M	$72.3M	$91.0M
*Fiscal year ends Nov. 30; 2003FYTD reflects first three months §Includes stock-based compensation in 2001, 2002

Other financials**
Total assets	$884M
Stockholders' equity‡	$750M
Cash & equivalents	$653M
Long-term debt	None
Shares outstanding	218.8M
Market value at April 4	$965M
**As of 11/30 except where noted ‡Includes short-term investments

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