TIBCO Software Earnings Call Insights: Customer Behavior and Macro Environment
TIBCO Software, Inc. (NASDAQ:TIBX) recently reported its third quarter earnings and discussed the following topics in its earnings conference call.
Brent Thill – UBS: Vivek, I was curious if you could spend a little more time about the general demand environment. You had mentioned that, you felt like business starting to stabilize, you’re starting to see some new trends. Can you just expand upon that? And how you’re seeing customer behavior changing?
Vivek Ranadive – Chairman and CEO: So what we’re seeing is the strongest demand that we’ve seen, so that’s point number one. Point number two, we’re seeing that customers are absolutely willing to spend – to do big deals. And they just need to see that it’s a priority for them and it’s something that creates significant value, moves the needle. In some ways it’s easier to do a bigger deal that moves the needle than to do smaller deal that has an incremental impact, so that’s point number two. And point number three is that we just had 100% track record, this quarter as in we never lost a deal. And so we see that there is clear clear differentiation of us versus other people and we see very strong pricing power. People are all trying to figure out how to grow the top line and everybody is thinking of themselves as a retailer. And everybody is trying to figure out how to capture customers, how to get more wallet share. How to create real-time offers, loyalty and of course, things like integration are absolutely core of that. So we’re very – we feel very good about where we see demand going.
Brent Thill – UBS: Just a quick follow-up on the sale capacity. You exited last year to 25% year-over-year growth. Murray, you had mentioned it that the quota reps had fallen back a little bit sequentially, but just from the productivity standpoint, can you give us a sense as to how those additions you made last year coming up to speed now?