7/19...VITR Announces Record Second Quarter Revenues of $31.8 Million, Up 404%
Rapid Adoption of Ebusiness Platform Drives Net Income of $0.01; Beats First Call Estimate
SUNNYVALE, Calif.--(BUSINESS WIRE)--July 19, 2000-- Vitria Technology, Inc. (Nasdaq:VITR - news), a leading ebusiness platform provider, today reported record results for the second quarter ended June 30, 2000.
Revenues for the second quarter were $31.8 million, an increase of 404% over the $6.3 million for the second quarter in 1999. Excluding non-cash charges relating to stock compensation, Vitria's earnings for the quarter were $1.0 million or $0.01 per share, beating the First Call consensus estimate of a loss of $0.02 per share. Including amortization of charges relating to stock compensation, Vitria's net income for the quarter was $28 thousand, or $0.00 per share, compared with a net loss of $3.3 million, or $0.06 per share, for the prior year second quarter.
``Our goal is to establish Vitria's ebusiness platform as the standard software platform for companies conducting business over the Internet,'' said JoMei Chang, president and CEO of Vitria. ``Our success in executing against this goal has once again driven record revenue growth for the company. With second quarter revenues of $31.8M, in one quarter we have exceeded what we accomplished for all of 1999. Our unique combination of exceptional growth and financial performance validates our position as the leader in the ebusiness infrastructure software market.''
Customers
Vitria added 60 new customers and partners in the second quarter. Roughly half of the total order activity was driven by ecommunity and Vitria Business Network (VBN) deals. New customers included Blu, Comcast, Hartford Group, Kemper Insurance, NTT Communicationware, NTT Data, Omnisky, Siemens, Singapore Telecom, and United Pan-European Communications (UPC). Vitria now has over 100 customers in the telecommunications industry alone. This customer list of the world's leading telecommunications companies includes AT&T, BellSouth, Qwest, SBC, Sprint, Telstra, UUNet, and WorldCom.
The company continues to expand its business beyond the telecommunications industry. In the second quarter, approximately one third of the company's customers came from non-telecommunications markets.
Vitria also closed repeat business from existing customers, including Telstra and WorldCom. In addition, many existing Vitria customers deployed mission-critical ebusiness solutions, including 3Com, BellSouth, Guarantee Life Insurance, and NorthPoint. The company continued to build its business overseas, doubling international headcount and opening new offices in Australia, France, and Germany.
Partners
Vitria closed joint deals with major systems integration partners including Andersen Consulting, Cap Gemini Ernst & Young, Clarkston-Potomac, Deloitte Consulting, DMR Consulting, KPMG, and PricewaterhouseCoopers. The company closed a major reseller/OEM partnership with Siemens in North America. The company also secured partnerships with leading wireless software vendors, including Aether, ViaFone, and Xora. These alliances enables Vitria's ebusiness platform customers to give mobile workers easy access to enterprise applications via cell phones, pagers, and personal digital assistants.
Products
Vitria delivered 22 new product releases in Q2 including significant B2B extensions to the ebusiness platform. These extensions add sophisticated XML-based services for dynamic trading partner management and B2B security, and make it even easier for Vitria customers to streamline and automate their supply chain operations over the Internet. On the international front, Vitria delivered a multi-byte version of its ebusiness platform to accelerate sales in Asian markets.
About Vitria
Vitria Technology, Inc. is a leading ebusiness platform provider. Vitria's ebusiness platform, BusinessWare, is designed to automate mission-critical business processes across the extended enterprise, reduce time to market, shorten lead times, lower operating costs, and increase customer satisfaction.
Vitria is a publicly traded company (Nasdaq: VITR - news) based in Sunnyvale, California. For more information, call 408/212-2700, visit the company's Web site at www.vitria.com, or send email to info@vitria.com. |
