Calico Commerce Reports Record Revenues; License Revenue Doubles from Prior Year; Net Markets Strategy Gains Momentum
SAN JOSE, Calif.--(BUSINESS WIRE)--July 24, 2000--Calico Commerce
(Nasdaq:CLIC), a leading provider of eBusiness applications that
enable companies to sell over the Web and in Net Markets today
announced record results for the quarter ended June 30, 2000.
Led by license revenues, which totaled $7.0 million and increased
102% from the prior year, total revenues for the current quarter
totaled $12.6 million as compared with $7.4 million for the
corresponding quarter in 1999. Pro forma net loss for the current
quarter, excluding non-cash charges, was $5.6 million, or $0.16 per
share, as compared to $3.8 million, or $0.16 per share, for the
corresponding quarter in 1999. Including all charges, the net loss for
the current quarter was $13.8 million, or $0.41 per share, as compared
with a net loss of $4.7 million, or $0.19 per share, for the
corresponding quarter ended June 30, 1999.
"This quarter, Calico achieved impressive milestones financially
and competitively that have laid the groundwork for continued
success," said Alan Naumann, president and CEO, Calico Commerce, Inc.
"We've seen tremendous growth in Net Markets this quarter as Calico
will power 31 B2B Net Markets, including nearly 4,000 suppliers, up
from 2,000 last quarter. We doubled our license revenue from the prior
year, further broadened our customer and partner base in key
industries, and recorded a number of technical design wins against key
competitors. Finally, we're reaping the benefits of completely
rearchitecting our product suite around the J2EE standard which is
critical to differentiating Calico now and in the future."
Net Markets Growth
Calico continued to demonstrate momentum in Net Markets this past
quarter. The Gartner Group has reported that more than $400 billion in
business-to-business e-Commerce transactions are forecasted to flow
through online marketplaces this year. Calico recognizes this growing
trend and continues to show aggressive growth in this market.
Highlights for the quarter include the following:
-- Calico has been chosen to power 31 B2B Net Marketplaces, and
14 of these corporations are currently "live" with Calico
applications, serving a total of more than 4,000 global
suppliers engaging in trade through Calico-driven sites.
Calico Market Maker enables corporations to bring multiple
buyers and suppliers together into a one-stop digital
marketplace where goods and services are traded, negotiated,
bought and distributed online.
-- Calico earned Sun Microsystems' endorsement for Calico's Net
Markets Alliance which was introduced this quarter.
Standards-based Java platforms are key enablers of integration
between technologies that meet the diverse needs of Net Market
Makers. Calico's vision and technical direction is aligned
with Sun's strategy of delivering highly scalable e-Commerce
applications from the Java 2, Enterprise Edition (J2EE(TM))
platform.
-- 13 best of breed application providers joined forces with
Calico Commerce to form the Net Markets Alliance, bringing
customers the technology underpinnings for building successful
B2B marketplaces. Customers will benefit from this alliance by
providing them with the critical tools they need to rapidly
launch a Net Market.
Customer Success
-- During the quarter, Calico Commerce completed a record 50
license or service revenue transactions. The company also
added 13 new customers, bringing the total number of Calico
customers to 114 spanning multiple industries. Calico received
additional license revenue from existing customers including
GE Capital, Best Buy Co., Inc., and Flextronics. Calico's
customers, including companies such as Honeywell and Telia
Systems, continue to successfully deploy the Calico Suite of
eBusiness applications enabling them to achieve quick time to
market.
-- Calico expanded its presence at GE Capital, the financial
services unit of General Electric Company (NYSE: GE), by
winning business in two additional divisions this quarter.
Calico now supports a total of four divisions at GE Capital.
Calico's eBusiness application suite already powers
GEsmallbusiness.com, a website that offers small businesses
financial solutions via the Web. Calico also recently
announced that GE Capital Commercial Equipment Financing
(CEF), a business within GE Capital, chose Calico's eBusiness
application suite to provide comprehensive equipment financial
solutions online.
Expanded Solution Partnerships
-- Calico added a total of 11 new systems integration partners
this quarter to expand its distribution channels, broaden
product integration and penetrate new markets. New systems
integration partners include such firms as AdamNet Ltd.,
Groundswell, Hubstorm, Ines Corporation, Lante, Perficient,
eBuilt, Xquisite and Diamond Technology Partners. Several
partners approached Calico after choosing our products to meet
specific customer requirements.
-- Calico trained more than 90 consulting professionals bringing
the total number of trained SI consultants to more than 300
from leading firms including Andersen Consulting, KPMG,
Technology Solutions Company and ZAMBA.
-- Calico joined forces with KPMG Consulting, Cisco Systems,
Inc., (Nasdaq: CSCO), and five other industry leaders to
deliver a next-generation, integrated Digital Subscriber Line
(DSL) Plug and Play solution for service providers. Calico's
standards-based eBusiness application suite serves as the
personalized, Web-based front-end to the New Generation Plug &
Play for DSL solution, offering the critical customer-facing
sales and ordering capabilities necessary for service
providers to effectively sell complex communications solutions
across multiple channels.
Launching International Operations
-- Calico significantly expanded its international presence with
recent launch of its Japanese operation, Calico Japan K.K. in
Tokyo, Japan. Calico's expansion of operations into Japan will
focus on addressing the rapid growth of the $100 billion
dollar business-to-business e-Commerce market, particularly
Net Markets, and support and enhance existing customer and
partner relationships . Calico will introduce localized
versions of products to the flourishing Japanese e-Commerce
market this summer.
-- Calico announced the opening of the Calico Solution Centre in
Amsterdam, The Netherlands, targeting the $1.3 trillion
European B2B e-Commerce opportunity. Calico will introduce
localized versions of the Calico product suite to support the
company's growing international customer and partner
relationships in the rapidly growing European B2B e-Commerce
market.
Product and Technology Leadership
-- In June, Calico introduced a major new version of its
J2EE-based eBusiness application suite, which tightly
integrated its components into a comprehensive solution. The
release included enhancements to its Calico Advisor, Calico
Market Maker and Calico(R) Loyalty Builder(TM) applications,
providing advanced functionality and a robust platform to
enable direct selling over the Web and through Net Markets.
-- Calico Advisor added powerful network class configuration
capabilities designed to meet the needs of customers in the
communications services industry. The new offering is
integrated into the Calico Suite for Communications Services.
The suite enables communications service providers to quickly
and easily customize and configure networked communication
services online, while accelerating speed-to-market with an
application designed to meet the needs of the communications
industry.
About Calico Commerce, Inc.
Calico Commerce, Inc. (Nasdaq: CLIC) provides an eBusiness
application suite that enables leading corporations to sell products
and services through the Web and in Net Markets. Calico's
open-standards eBusiness applications match unique customer needs to
products to drive revenue growth, increase customer satisfaction and
achieve competitive advantage. Calico customers include leaders in
high-technology hardware, manufacturing, telecommunications services,
financial services, home furnishings, chemicals, agriculture and
retail. Calico Commerce, Inc., headquartered in San Jose, Calif., can
be found on the World Wide Web at www.calico.com.
Except for the historical information contained herein, some of
the matters discussed in this news release contain forward-looking
statements that involve substantial risks and uncertainties. The
following factors, among others, could cause the Company's actual
results to differ materially from those described in these
forward-looking statements: demand for the Company's products, the
level of service and price competition, the ability of the Company to
develop and market new and existing products, ongoing introduction of
new and enhanced products by competitors, the concentration of
revenues in the last weeks of a given quarter and those other factors
described in the Company's Registration Statement on Form S-1 and
other public reports filed with the Securities and Exchange
Commission. Note to Editors: Calico is a registered trademark of
Calico Commerce, Inc.
CALICO COMMERCE, INC.
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(in thousands, except per share data)
(unaudited)
Three Months Ended
June 30,
2000 1999
Net revenue:
License $ 6,971 $ 3,457
Services 5,609 3,976
Total net revenue 12,580 7,433
Cost of net revenue:
License 357 --
Amortization of
purchased technology 497 137
Services 5,179 2,660
Total cost of net revenue 6,033 2,797
Gross profit 6,547 4,636
Operating expenses:
Sales and marketing 6,953 4,558
Research and development 5,311 2,666
General and administrative 1,453 1,452
Stock compensation 279 514
Acquired in-process
research and development -- --
Amortization of goodwill 7,481 240
Total operating expenses 21,477 9,430
Loss from operations (14,930) (4,794)
Interest and
other income, net 1,111 71
Net loss $(13,819) $ (4,723)
======== ========
Net loss per share:
Basic and diluted $ (0.41) $ (0.52)
======== ========
Weighted average shares 34,000 9,000
Pro forma excluding
non-cash charges (1):
Basic and diluted $ (0.16) $ (0.16)
======== ========
Weighted average shares 34,000 24,600
Notes
(1) The pro forma results provide information reflecting the
conversion of preferred shares for the entire period or date of
issuance if later and the elimination of non-cash charges such as
stock compensation, acquired in-process research & development, and
goodwill amortization.
CALICO COMMERCE, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
(unaudited)
June 30, March 31,
2000 2000
ASSETS
Current assets:
Cash and cash equivalents $ 6,780 $ 25,917
Short-term investments 61,924 49,923
Accounts receivable, net 13,050 10,829
Other current assets 3,419 2,568
Total current assets 85,173 89,237
Long-term investments 3,120 5,377
Property and equipment, net 4,810 4,462
Intangible and other
assets, net 81,505 89,584
$ 174,608 $ 188,660
LIABILITIES AND
STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities:
Accounts payable $ 2,890 $ 4,152
Accrued liabilities 10,099 11,641
Deferred revenue 5,325 5,802
Current portion of notes payable 1,273 1,255
Current portion of capital
lease obligations 188 275
Total current liabilities 19,775 23,125
Notes payable, non-current 1,529 1,413
Capital lease obligations,
non-current 98 106
Other liabilities 12 32
Total liabilities 21,414 24,676
Stockholders' equity (deficit):
Preferred Stock -- --
Common Stock 35 35
Additional paid-in capital 226,769 224,587
Notes receivable from stockholders (1,261) (1,752)
Unearned compensation (949) (1,228)
Other comprehensive income (102) (179)
Accumulated deficit (71,298) (57,479)
--------- ---------
Total stockholders'
equity (deficit) 153,194 163,984
$ 174,608 $ 188,660
*T
CONTACT:
Calico Commerce, Inc.
Arthur F. Knapp, Jr., 408/278-7336 (CFO)
aknapp@calico.com
or
Katie Belding, 408/808-7655 (Corporate Communications)
kbelding@calico.com
or
Marian Chabansky, 408/278-7345 (Investor Relations)
mchabansky@calico.com |
