Interwoven Announces Record Fourth Quarter
Revenues -- Up 628%
$54.6 Million Q4 Tops Off Interwoven's Year 2000 Revenues -- a 686% Year Over Year Increase
SUNNYVALE, Calif.--(BUSINESS WIRE)--Jan. 23, 2001--Interwoven, Inc. (Nasdaq:IWOV - news), the leading provider
of enterprise-class content management software, today reported record fourth quarter results, with revenues for the quarter
ended December 31, 2000 of $54.6 million, an increase of 628% over revenues of $7.5 million for the quarter ended
December 31, 1999 and a 39% sequential increase over revenues of $39.4 million for the quarter ended September 30, 2000.
License revenues represented 65%, and service revenues 35%, of the total revenues for Q4 2000. With the addition of 147
new license customers in Q4 2000, Interwoven now has over 650 customers.
Net income for the quarter ended December 31, 2000, before the effect of non-cash charges related to stock-based
compensation and acquisition-related expenses, was $2.0 million, or $0.02 per share on a supplemental basic and diluted basis,
compared with a net loss of $3.5 million, or $0.05 per share on a supplemental basic and diluted basis, for the quarter ended
December 31, 1999.
For the year ended December 31, 2000, total revenues were $132.1 million, a 686% increase over revenues of $16.8 million
for the comparable period in 1999. The net loss before the effect of non-cash charges related to stock-based compensation
and acquisition expenses was $391,000, or $0.00 per share on a supplemental basic and diluted basis, for the year ended
December 31, 2000, compared with a net loss of $11.6 million, or $0.38 per share on a supplemental basic and diluted basis,
for the year ended December 31, 1999.
``We are very pleased with our Q4 results which have topped off a year of exceptional growth,'' said Martin Brauns, president
and CEO of Interwoven. ``It is clear that IT spending priorities are being set around initiatives that will deliver tangible results in
the short term and it is clear to us that content management remains among the top four `must-have' categories for IT
spending.''
Q4 Highlights
Customers
Interwoven signed 147 new license customers in the quarter ended December 31, 2000. New customers included 3Com,
Alcoa, Avon Products, Coors Brewing, DIRECTV, Dow Jones & Company, Fannie Mae, Freddie Mac, Hilton Hotels, Home
Box Office, Kraft Foods, MasterCard International, Owens Illinois, Robert Half International, Seagate Software, Siemens
Corporation, SmithKline Beecham, Spiegel, Stanford University, Neiman Marcus, Sherwin-Williams, and Time Inc. With these
additions, Interwoven's total customer count is now over 650.
Interwoven also saw significant reorders from many of its larger customers including American Airlines, Bell South, Cisco,
General Motors and Philips.
International
46 new international customers were added in the quarter ended December 31, 2000, including adidas-Solomon, British
Telecom, CSC Computer Science, Department of Education for New South Wales, Hitachi Zosen Information Systems,
Pirelli, Rikei, Singapore Airlines and Telenor.
Products
In December 2000, Interwoven announced Interwoven B2B Edition which empowers trading partners to easily contribute and
publish B2B content to Ariba and Commerce One based marketplaces.
In Q4, Interwoven acquired Ajuba Solutions and Metacode Technologies to accelerate development of intelligent content
tagging and augment Interwoven's XML engineering team.
Partners
During the 4th quarter, Interwoven focused its alliance efforts in expanding the roles of key partners. Highlights included:
New as resellers are IBM Global Services and Accenture (formerly Andersen Consulting).
New B2B partners include Ariba and Bowstreet and new as a B2B partner is BEA, already a strategic technology
partner.
Interwoven trained close to 500 consultants from 37 different partners including large groups from Accenture,
Cambridge Technology Partners, IBM Global Services and March First in Q4 2000.
In Q4, Interwoven acquired Ajuba Solutions and Metacode Technologies to accelerate development of intelligent content
tagging and augment Interwoven's XML engineering team.
About Interwoven
Interwoven, Inc. (Nasdaq:IWOV - news) is the world's leading provider of enterprise-class content management software. Its
solutions control the development, management and deployment of Web content and are the de facto standard for over 500
Global 1000 companies including General Electric, General Motors and Cisco Systems. Interwoven teams with the leading
best-of-breed eBusiness application providers to provide customers an end-to-end platform for eBusiness. For more
information on the fastest growing software company in Silicon Valley and its proven XML-based solutions, visit the
Interwoven Web site at www.interwoven.com.
This press release contains ``forward-looking'' statements, including projections about our business growth. For example,
statements in the future tense, and statements including words such as ``expect'', ``plan'', ``estimate'', ``anticipate'' or ``believe,''
are forward-looking statements. These statements are based on information available to us at the time of the release; we
assume no obligation to update any of them. The statements in this release are not guarantees of future performance. Actual
results could differ materially from our current expectations as a result of numerous factors, including the fact that our market is
new and customer acceptance of our products is not proven, special difficulties associated with international expansion, and
potential unexpected difficulties with integration of recent acquisitions. These and other risks and uncertainties associated with
our business are described in our most recent annual report on Form 10-K and subsequent Forms 10-Q and 8-K, which are
on file with the SEC and available through www.sec.gov. |
