Starbase Announces Results for First Quarter FY2002
Revenues Increased 71% Compared With Same Quarter FY2001
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SANTA ANA, Calif.--(BUSINESS WIRE)--July 26, 2001--Starbase Corp. (Nasdaq:SBAS), the leading provider of end-to-end collaborative products for both the development and management of content and code for e-business applications, today reported financial results for the first fiscal quarter 2002 ended June 30, 2001.
Revenues for the three months ended June 30, 2001 were $12,054,000, a 71% increase over revenues of $7,041,000 for the comparable period ended June 30, 2000, and a 27% decrease over revenues of $16,614,000 for the fourth quarter of FY2001 ended March 31, 2001. Pro forma net loss for the first quarter of FY2002 was $6,846,000, or $(0.10) per share, compared with a pro forma net loss of $1,121,000, or $(0.03) per share, for the same period in FY2001.
Pro forma net loss and pro forma per share data for the periods reported exclude amortization of intangibles and non-cash stock based compensation.
As reported net loss, including amortization of intangibles and non-cash stock based compensation, for the first quarter of FY2002 was $13,765,000, or $(0.20) per share, compared with reported net loss of $3,888,000 or $(0.09) per share, for the same period in FY2001.
``When comparing this year's first quarter results to last year's first quarter results, our growth remains strong,'' said William R. Stow III, chairman and chief executive officer of Starbase. ``As discussed throughout the industry, the economic slowdown continues to delay purchasing decisions, and our results for the first quarter reflect this. However, at Starbase, we begin our second fiscal quarter with the strongest sales pipeline in the history of our company. We continue to see broad implementation of the Starbase Collaboration Suite by our growing customer base, which now numbers 3,244. This quarter we witnessed significant crossover product sales among StarTeam, eXpressroom and Caliber customers that validates the benefits of our Collaboration Suite solution. We feel we have a competitive advantage when customers evaluate licensing our products in the light of return on investment criteria.''
1st Quarter Highlights
-- Announcement of Starbase Collaboration Suite -- a single vendor
best-of-breed solution or a best-fit solution that leverages
customers' existing technology.
-- Strategic marketing and technology partnership with DeepBridge.
-- Partnership program with Starpoint Solutions' FLITE Framework.
-- Replicon Inc. implements StarTeam as its configuration and change
management standard.
-- Agreement with i2 Technologies to implement CaliberRM and
CaliberRBT as the company-wide standard for the management of
requirements throughout all business units.
-- Strategic technology partnership with Software Prototype
Technologies.
-- Car and Driver's online magazine deploying eXpressroom 2.01 --
www.caranddriver.com .
-- CaliberRM Professional introduced -- offering an improved approach
to requirements management.
-- StarTeam integration with SilverStream Application Server.
-- Increased cross selling of StarTeam, CaliberRM, eXpressroom and
Mercury Interactive to such companies as ALG, Donaldson
Filtration, InfoImage, Sanchez Computer Associates and WebGain.
-- 376 new customers including Aegis Group Plc, Bank One, Divine
Inc., Evolve Software, Lockheed Martin Services, Maryland State
Highway Administration and Staples.com.
-- 39% of revenues were derived from existing customers. Repeat
customers include Bell + Howell, Compaq Computer Corp., Expeditors
International, Hewlett Packard, Kohl's Department Stores, San
Diego Data Processing Corp., and ThoughtWorks.
-- Enterprise level orders represented 38% of bookings.
A conference call will be held today to discuss the financial
results and to provide financial guidance for the next quarter and
FY2002. Details for the conference call are listed below.
Conference Call Information:
Date: July 26, 2001
Time: 2 P.M. Pacific -- 5 P.M.
Eastern
Telephone Number: 719/457-2657 -- this is a
toll call
Confirmation Number: 793 663
Live Web Cast: www.starbase.com
www.streetevents.com
www.streetfusion.com
Telephone Replay will be available approximately 2 hours 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: 793 663 |
