Starbase Corp. Reports Record Revenue For Third Quarter FY 2001
Revenues Surge 131% As Demand for the Company's Code & Content eBusiness Solution Gains Broad Market Acceptance
SANTA ANA, Calif.--(BUSINESS WIRE)--Jan. 31, 2001--Starbase Corp. (Nasdaq: SBAS - news), the leading provider of collaboration products for the creation and management of integrated code and content eBusiness applications, Wednesday reported record financial results for the third fiscal quarter 2001 ended Dec. 31, 2000.
Revenues for the quarter ended Dec. 31, 2000 were $9,540,000, a 131% increase over revenues of $4,133,000 for the comparable period ended Dec. 31, 1999, and a 13% increase over revenues of $8,444,000 for the quarter ended Sept. 30, 2000. This performance represents the 15th consecutive quarter of revenue growth. Pro forma net loss for the third quarter of FY 2001 was $984,000, or ($0.02) per share, compared with a pro forma net loss of $499,000, or ($0.01) per share, for the same period in FY 2000.
Revenues for the nine months ended Dec. 31, 2000 were $25,026,000, a 121% increase over revenues of $11,339,000 for the comparable period in 1999. Pro forma net loss for the nine months ended Dec. 31, 2000 was $3,509,000 or ($0.08) per share, compared with pro forma net loss of $2,832,000 or ($0.09) per share, for the same period in FY 2000.
Pro forma net loss and pro forma per share data for the periods reported exclude amortization of intangibles related to acquisitions, and non-cash stock based compensation.
As reported net loss for the third quarter of FY 2001 was $2,904,000, or ($0.06) per share compared with as reported net loss of $974,000, or ($0.03) per share, for the same period in FY 2000. ¶ As reported net loss for the nine months ended Dec. 31, 2000 was $10,178,000 or ($0.22) per share, compared with as reported net loss of $3,395,000 or ($0.11) per share for the same period in FY 2000.
``In the quarter, we saw a significant number of industry leading companies select Starbase solutions to drive their eBusiness initiatives,'' stated William R. Stow III, president and CEO. ``IT spending for productivity enhancing technologies like StarTeam remains a high priority among these corporate enterprises. In addition, customer feedback during the quarter has confirmed that StarTeam's unique collaboration capabilities improve team productivity and represent a powerful product differentiator. StarTeam's success in the marketplace is further evidenced by the growing number of larger enterprises that are standardizing on our collaborative development platform.''
Q3 Sales and Marketing Highlights
180 new customers including AEGIS, AG Communication Systems, Avaya Communications, Biogen Inc., BMW Financial Services, Charles Schwab & Co., Donovan Data Systems, eGain Communications Corp., Ernst & Young LLP, HDS/Hitachi Data Systems, Honeywell International, InvestorForce.com, KnowledgeStorm Inc., Ncompass Labs Inc. PetroCosm, Razorcat, Sprint PCS, Syracuse University, United Media, Virtual Fund.com, Web Street Inc., WebGain Inc.
Web-based development related sales represented 50% of revenues
62% of revenues were derived from existing customers, up from 42% for the previous quarter. Repeat customers include Aether Systems, AG Communication Systems, Beckman Coulter, Bell & Howell, bitHeads, Booz-Allen Hamilton, Computer Sciences Corp., Conexant Systems Inc., Digital Access Corp., H.O. Systems, Intel, Internet Security Systems, Ontrack Data International, SmartPipes Inc. and Viant
New enterprise level orders represented 37% of seats sold
Strategic Partners and Alliances
During the quarter Starbase announced technology and marketing partnership with such industry leaders as:
Openpages Inc. -- to deliver an integrated Web application management solution
Aldon Computer Group -- to enable team collaboration for the IBM's iSeries 400
Pretzel Logic -- to deliver technology integration framework for end-to-end code and content management capability
Q3 Development Highlights
StarTeam 5.0 Solaris Edition released
Surveyor 4.5 released, an advanced eBusiness application documentation product
CodeWright 6.0 and Texas Instruments' (TI) eXpressDSP Real-Time Software Technology integration
CodeWright 6.5 released, an advanced code editing system developed for the Windows environment
Starbase's Web-based Seminars expanded to include co-sponsored programs with partners
Conference Call Information:
The FY 2001 Q3 Earnings Conference Call is scheduled for Jan. 31, 2001
Time: 2 p.m. Pacific -- 5 p.m. Eastern
Telephone Number: 913/981-4900 -- this is a
toll call
Confirmation Number: 653785
Live Web Cast: www.starbase.com
www.vcall.com
www.streetfusion.com
Telephone Replay will be available approximately 1 hour after the
call ends and will remain available for 7 days. The Replay number is
toll-free.
Telephone Replay Number 888/203-1112
Confirmation Number: 653785
About Starbase
Starbase is the leading provider of collaboration products for the creation and management of integrated code and content eBusiness applications. Collaboration is the simultaneous coordination, management and communication of geographically dispersed contributors of both code and content for eBusiness applications. With more than 1,800 StarTeam customers worldwide, the company's technology supports the continuous cycle of creating, linking and managing digital assets, which comprise complex eBusiness applications.
Starbase products enable users with differing technical and functional backgrounds to collaborate on the production of Web sites and eBusiness initiatives from multiple locations. Companies and organizations, including leading corporations such as AIG, Aether Systems, BMC Software, ComputerJobs.com, Dell Computer, DiTech.com, eTour.com, Hollywood Entertainment, Intel, Lucent Technologies, Motorola, Oxygen Media, PepsiCo, Pioneer Group and Seagate Technology have selected StarTeam to manage their eBusiness development projects.
Starbase has headquarters at 4 Hutton Centre Drive, Suite 800, Santa Ana, CA 92707. Tel: 714/445-4400. Fax: 714/445-4404. Visit Starbase's Web site at www.starbase.com.
Forward Looking Statements
When used in the preceding discussion, the words ``believes, expects, or intend to'' and similar conditional expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, (i) conditions in the general economy or the software industry, (ii) the timely development and market acceptance of products and technologies, (iii) competitive factors, (iv) demand for team productivity software products, (v) sell-through of products in the sales channel, and (vi) other risks described in Starbase Corp.'s SEC reports and filings. |
