UPDATE 1-Agile posts 3rd-qtr earnings just above expectations
(Adds background, details, analyst comments, paragraphs 5
through end.)
By Siobhan Kennedy
SAN JOSE, Calif., Feb 15 (Reuters) - Agile Software
Corp.<AGIL.O>, whose software helps companies share product
information with their suppliers and partners, on Thursday
posted operating earnings that came in just ahead of Wall
Street expectations and cited strong demand for its software.
The San Jose, Calif.-based company reported fiscal third
quarter pro forma earnings of $353,000, or 1 cent a share,
excluding charges, amortization and other items, compared with
a year ago pro forma loss of $1.7 million, or 4 cents a share.
The company noted this would probably be its last earnings
report, citing a merger deal that is in the works.
Wall Street analysts had expected Agile to break even on a
per share basis for the quarter ended Jan. 31, with estimates
ranging from a loss of 1 cent to a profit of 2 cents, according
to First Call/Thomson Financial.
Revenues tripled to $25 million from $8.6 million.
Including charges and other items, the company posted a net
loss of $12.6 million, or 27 cents a share, vs. a loss of $12.9
million or 31 cents a share a year earlier.
"It was a very, very good quarter," said Credit Suisse
First Boston's analyst Brent Thill. "They exceeded our license
revenues by two and half million and earnings per share was
above what we were looking for."
He added, "Despite some of the turbulence most of the other
companies have gone through, Agile is still not seeing any
weakness."
Last month, Agile agreed to be acquired by Internet
commerce giant Ariba Inc.<ARBA.O>, in a stock deal worth about
$2.55 billion when it was announced, but now worth about $1.58
billion due to a steep drop in Ariba stock.
Speaking on a conference call Thursday, Tom Shenahan,
Agile's chief financial officer, said this would be Agile's
last earnings report as a public company, since theAriba deal
was expected to close at the end of April.
For that reason, Shenahan said Agile wouldn't be giving any
financial guidance for the next quarter either.
Agile's software lets manufacturers and suppliers
collaborate over the Web during the design and sourcing stages
of product development. The lucrative market constitutes about
75 percent of supply chain costs, and Agile is widely
recognized as the leading vendor in the field.
Agile said it added 64 new customers this quarter, compared
to 49 a year ago, including big names such as semiconductor
firm Applied Materials<AMAT.O>, Hitachi Ltd<6501.T>,
Microsoft<MSFT.O> and wireless technology provider
Qualcomm<QCOM.O>.
In addition, more than 175 of Agile's existing customers
bought more of its software during the quarter, it said.
Agile this week also signed a strategic alliance with
Manugistics Inc.<MANU.O>, whose software helps companies manage
their inventory and buying systems.
The two companies plan to integrate their software
applications and target the joint offering to the apparel,
footwear and textiles and electronics and high tech industries
(New York newsdesk 1 212 859 1674))
REUTERS
Rtr 21:53 02-15-01
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