SBAS
This out after close:
Tuesday January 19, 5:05 pm Eastern Time
StarBase sees strong Q3 revenue growth
SANTA ANA, Calif., Jan 19 (Reuters) - Networking software provider StarBase Corp. said on Tuesday preliminary revenues for the third quarter rose at least 190 percent over the same period last year.
The rise was due to a strong increase in new customers and a fall in operating expenses, StarBase chairman William Stow said in a statement.
Revenues for the quarter ending Dec. 31, 1998, were estimated to be between $1.90 million and $1.95 million, the statement said. That was growth of 16 percent over the second quarter.
Revenues for the first three quarters were expected to hit at least $4.7 million, a rise of 245 percent over the same period a year earlier, it said.
StarBase expected third quarter operating expenses to be between $3.6 and $3.65 million, it said.
''The combination of higher revenues, approximately 95 percent gross margin, and lower operating expenses should result in an approximate 25 percent decrease in net loss for the third quarter,'' Stow said.
StarBase posted a net loss of $2.5 million for the second quarter.
More than 90 percent of StarBase's revenues in the third quarter came from sales to new customers, Stow said.
He added that the expected release in February of StarTeam 4.0 Enterprise, the lastest version of StarBase's management program aimed at software developers, would boost sales among previous customers.
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