Any comments on the earnings report?
I think some analyst upgrades, new coverage, and a stock split announcement are in the near future. (hopefully)
JJJ and my 50 shares
-ARIBA: Ariba announces record quarterly revenues of $17 million, up 266%
Presswire - November 10, 1999 13:31
M2 PRESSWIRE-10 November 1999-ARIBA: Ariba announces record quarterly revenues of $17 million, up 266% (C)1994-99 M2 COMMUNICATIONS LTD
* Net Loss Per Share $0.12, Beats First Call Estimates
London -- Ariba, Inc. (NASDAQ: ARBA), the leading independent business-to-business electronic commerce network, has announced record results for the fourth quarter ended September 30, 1999.
Revenues for the fourth quarter of fiscal 1999 marked the largest quarter in Ariba's history at $17.1 million, up 266 percent from the same period last year. Net loss for the quarter excluding the amortisation of stock-based compensation was $4.6 million or a loss of $0.12 per share, beating First Call consensus estimate of a loss of $0.17 per share. During the corresponding quarter in fiscal 1998, the net loss was $2.2 million or a loss of $0.28 per share, excluding the amortisation of stock-based compensation. Including the amortisation of stock-based compensation, net loss for the fourth quarter of fiscal 1999 was $9.9 million or a loss of $0.26 per share.
Revenues for the fiscal year 1999 marked Ariba's continued leadership as the largest independent business-to-business e-commerce network of buyers and suppliers. Fiscal year 1999 revenues were $45.4 million, up 443 percent versus $8.4 million in the same period last year. Net loss for the fiscal year excluding stock-based compensation was $14.7 million or a loss of $0.84 per share. Including the amortisation of stock-based compensation, net loss for the fiscal year was $29.3 million or a loss of $1.67 per share.
"Upside in the quarter came from higher than expected revenues from transaction-based licenses and faster than expected migration onto the Ariba Network, as e-commerce is becoming a strategic imperative for leading corporations," said Keith Krach, chairman and chief executive officer of Ariba. "By capitalising on our early mover advantage in providing the first business-to-business eCommerce buying infrastructures to some of the world's largest, most respected corporations, and attracting over 20,000 corporate suppliers, Ariba has created a global eCommerce network. With another record-breaking quarter, we've extended that leadership going into the next fiscal year."
The following highlights were announced during Ariba's fourth fiscal quarter:
* Ariba announced the new Ariba Internet Business Exchange (Ariba IBXTM) service, a hosted Internet service that will enable Ariba partners to quickly build their own commerce platform powered by the Ariba Network without installing or maintaining their own eCommerce infrastructures.
* Hewlett-Packard and SAirGroup are among the first companies who will help form commerce communities on the Ariba Network platform. Targeted at small and mid-size businesses and vertical industry consortia, these commerce communities will be able to deliver volume discounted pricing, streamlined internal purchasing processes, and a single point of access to an organised world of business products and services.
* Ariba also announced that more than fourteen percent of the Fortune 100 are now Ariba corporate buyers. Several new large customers joined the Ariba Network platform as buyers including American Honda Motor Co., Inc., Andersen Consulting, Charles Schwab & Co., CNA Insurance, Deloitte Consulting, Morgan Stanley Dean Witter, Motorola and National Semiconductor, among several others. In total, the Ariba customer base spends more than US$140 billion annually on operating resources.
* Continued momentum from new suppliers to the Ariba Network platform, brought the total supplier network reach to over 20,000 suppliers. Today, Ariba's buyer base can access any major category of spend because of Ariba's supplier network reach.
* US Bancorp, (NYSE: USB), the largest provider of purchasing cards in the world, and Ariba, Inc., announced an alliance to develop an integrated electronic buying and payment infrastructure for business-to-business eCommerce. The joint solution delivers fully electronic orders and invoices, automatically reconciles purchase orders with purchasing card charges, and integrates purchase data with the buyer's financial systems. It enables businesses and their suppliers to streamline commerce, reduce operating costs and increase internal efficiencies by replacing paper-based payment processes with integrated electronic payment systems.
* Ariba announced the new Ariba ORMX application, a version of the industry-leading Ariba ORMS Release 6 application tailored for use in an application service provider (ASP) environment and ideally suited for mid-size companies and other organisations who prefer to minimise their up-front IT investments
ABOUT ARIBA
Ariba is the leading provider of Internet-based business-to-business electronic commerce solutions for operating resources. The company's products and services efficiently connect requestors to approvers and buyers to suppliers, to deliver an automated solution for improving the acquisition and management of operating resources, the goods and services required to operate a company. The Ariba network platform solution has been licensed by large, multinational industry leaders and public sector organisations including General Motors, Cisco Systems, FedEx, Hewlett-Packard Company, Philips, US WEST and Visa.
"Safe Harbour" Statement Under the Private Securities Litigation Reform Act 1995: Information in this release that involves Ariba's expectations, beliefs, hopes, plans, intentions or strategies regarding the future are forward-looking statements that involve risks and uncertainties. All forward-looking statements included in this release are based upon information available to Ariba as of the date of the release, and we assume no obligation to update any such forward-looking statement. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include, but are not limited to, delays in development or shipment of new versions of our ORMS application or of our Ariba Network; lack of market acceptance of the Ariba Network or other new products or services; inability to continue to develop competitive new products and services on a timely basis; introduction of new products or services by major competitors; and our ability to attract and retain qualified employees. These and other factors and risks associated with our business are discussed in the Company's registration statement on Form S-1 declared effective by the Securities and Exchange Commission ("SEW) on June 22, 1999, and in the Company's Form 10-Q filed August 16, 1999.
CONTACT: David Macdonald Tel: +44 (0)20 7345 3287 e-mail: david.macdonald@uk.ogilvypr.com Phil Dwyer Tel: +44 (0)20 7345 3130 e-mail: phil.dwyer@uk.ogilvypr.com Ben Wright Tel: +31 (0)23 568 4720 e-mail: bwright@ariba.com
*M2 COMMUNICATIONS DISCLAIMS ALL LIABILITY FOR INFORMATION PROVIDED WITHIN M2 PRESSWIRE. DATA SUPPLIED BY NAMED PARTY/PARTIES.*
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