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Calico Commerce Reports Record Revenues for Second Quarter
Business Editors
SAN JOSE, Calif.--(BUSINESS WIRE)--Oct. 20, 1999--Calico
Commerce, Inc. (Nasdaq:CLIC), a provider of business-to-business
electronic commerce software and services, today announced record
results for its second quarter ended September 30, 1999.
Total revenues increased by 55 percent to a record $8.2 million
compared with revenues of $5.3 million for the same period of the
prior year. The Company had a net loss of $6.5 million or $0.69 per
share for the quarter compared to a net loss of $4.9 million or $0.75
per share in the same period of the prior year. Excluding the
amortization of stock compensation, goodwill and the charge for
acquired in-process R&D, the net loss was $5.8 million or $0.62 per
share, compared with a net loss of $2.5 million or $0.38 per share in
the same period a year ago.
On a pro forma basis, assuming the conversion of all the
outstanding shares of convertible preferred stock into shares of
common stock on a weighted-average basis for the period in which the
convertible preferred stock was outstanding during the quarter and
excluding the non-cash charges noted above, the net loss per share
would be $0.23 compared with $0.13 for the same period last year.
For the six months ended September 30, 1999 total revenues
increased by 57 percent to $15.6 million compared with $9.9 million in
the same period a year ago. On a pro forma basis described above, the
net loss was $9.8 million or $0.39 per share, compared with a pro
forma net loss of $3.7 million or $0.20 per share for the same period
last year.
"I'm excited to announce our second quarter results which
exceeded our expected revenue and operating margin goals," said Alan
P. Naumann, president and CEO. "During the quarter we received license
and professional services revenue from 22 customers reflecting the
breadth of our business-to-business customer base. We also entered
into a strategic relationship with Andersen Consulting in order to
gain bandwidth to handle increased business levels. Finally, we are
very pleased with the investments which we are making in engineering
in order to add future products to our eSales(TM) suite," Naumann
concluded.
On October 7, 1999, the Company completed the initial public
offering of its common stock. The initial public offering price for
the 4,600,000 shares offered by the Company, including the
over-allotment option exercised by the underwriters, was $14.00 per
share. Net proceeds to the Company, before offering expenses, were
$59.9 million or $13.02 per share.
Simultaneous with the closing of the initial public offering, the
Company received an additional $24.0 million from the sale of an
aggregate of 1,843,200 shares of common stock at $13.02 per share in
private placements to Dell U.S.A., L.P., a Texas limited partnership
($20.0 million) and Andersen Consulting LLP ($4.0 million).
Because the Company is still within the 25-day quiet period
following the offering noted above, it is unable to conduct a
conference call to further discuss these operating results.
About Calico Commerce, Inc.
Calico Commerce, Inc., headquartered in San Jose and with offices
throughout the United States and Europe, is a provider of software and
services that enable customers to engage in eCommerce by selling
complex products and services over the Internet.
The Calico eSales Suite is a personalized web-based buying and
selling solution that enables customers to create a unique process to
interact with their customers, to improve selling effectiveness and
customer satisfaction. The Calico eSales Suite can be deployed across
the Internet, intranets, extranets and corporate networks and can be
accessed through desktop and mobile computers and retail kiosks.
Calico Commerce, Inc. can be found on the World Wide Web at
calico.com
Except for the historical information contained herein, some of
the matters discussed in this news release contain forward-looking
statements that involve substantial risks and uncertainties. The
following factors, among others, could cause the Company's actual
results to differ materially from those described in these
forward-looking statements: demand for the Company's products, the
level of service and price competition, the ability of the Company to
develop and market new and existing products, ongoing introduction of
new and enhanced products by competitors, the concentration of
revenues in the last weeks of a given quarter and those other factors
described in the Company's Registration Statement on Form S-1 and
other public reports filed with the Securities and Exchange
Commission.
Note to Editors: Calico is a registered trademark of Calico
Commerce, Inc. The Calico eSales Suite is a trademark of Calico
Commerce, Inc.
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