* Q1 adj EPS $0.09 vs est of $0.08
* Q1 rev misses estimates
* Q2 sales view misses estimates
* Sees Q2 adj EPS $0.08-$0.09 vs est of $0.08 (Adds conference call details)
BANGALORE, March 26 (Reuters) - Business software maker Tibco Software Inc TIBX.O reported quarterly earnings that edged past Wall Street targets, helped by lower expenses, and it forecast second-quarter profit largely in line with market estimates.
Tibco sees second-quarter revenue of $138 million to $143 million, assuming a foreign exchange impact of about 5 percent to 7 percent, a company executive said on a conference call with analysts.
Analysts were looking for revenue of $145.8 million, according to Reuters Estimates.
For the second quarter, the company sees earnings of 3 cents to 4 cents a share. Excluding items, it sees earnings of 8 cents to 9 cents. [ID:nWNAB7886]
“...we see a strengthening pipeline and stabilizing budgets at most customers, with 11 deals in first quarter at or above a million dollars,” Chief Operating Officer Murray Rode said.
The company continues to see renewal rates to remain between 90 percent and 95 percent.
For the first quarter ended March 1, net income was almost flat at $5.6 million, or 3 cents per share.
Revenue fell 9 percent to $132.9 million as license revenue dropped 22 percent. [ID:nWNAB7853]
Excluding items, the company earned 9 cents a share.
Total operating expenses fell 12 percent to $85.6 million.
Analysts expected earnings of 8 cents a share, excluding items, on revenue of $141 million, according to Reuters Estimates.
Shares of the Palo Alto, California-based company closed up more than 8 percent at $5.93 Thursday on Nasdaq. (Reporting by Shrutika Verma in Bangalore; Editing by Deepak Kannan)