Earnings from Yahoo: looks good to me. Comments?
Also, if anyone heard the conference call, could you please post a summary? Thanks.
BackWeb Reports Second Quarter 2000 Results
Fueled by 109 Percent Revenue Growth, Internet's Push Infrastructure Leader Broadens Presence
with Strategic Alliances, Customer Wins, Wireless Acquisition and Universal Push Initiative
SAN JOSE, Calif., July 26 /PRNewswire/ -- BackWeb® Technologies (Nasdaq: BWEB - news), a leading provider of push for
e-business solutions, today announced second quarter results for the period ending June 30, 2000. BackWeb's mounting success as
an infrastructure for e-business and continued progress towards becoming the Internet's de facto push standard drove revenue
growth of 109 percent over the previous year and 19 percent growth over last quarter. During the quarter, BackWeb expanded its
market reach through key alliances with KPMG® Consulting LLC, IBM® and RealNetworks®, in addition to a host of significant
customer wins, a new wireless push product expansion, and an industry-wide Universal Push initiative.
Revenues for the second quarter increased 109 percent to $10.6 million, from $5.1 million in the second quarter of 1999 and grew
19 percent from $8.9 million the previous quarter. Excluding amortization charges related to a previous acquisition, deferred stock
compensation and the acquisition of intellectual property in the second quarter, net loss for the second quarter was $1.1 million, or
$0.03 per diluted share, compared to a net loss of $2.4 million or $0.09 per diluted share for the same period a year earlier.
Including these charges, net loss for the quarter was $9.8 million, or $0.26 per share loss (of which $8.4 million or $0.22 per share
loss was attributable to the initial write-off of the acquisition of intellectual property) compared to a net loss of $3.3 million, or
$0.12 per share in the second quarter of 1999.
``Our results underscore the ever-widening market acceptance of BackWeb's Polite(TM) push technology as a vital component of
the Internet's e-business and portal infrastructure,'' said Eli Barkat, chairman and CEO of BackWeb Technologies. ``With our
recent strategic acquisition of wireless technology and major product expansion, we anticipate the market opportunity for
BackWeb to broaden even further as we provide a single push infrastructure to businesses for both their Internet and wireless
needs.''
Second Quarter 2000 Highlights
BackWeb's second quarter of 2000 was highlighted by strategic alliances and ubiquity-driving relationships, major new customer
wins, the debut of next-generation push technology, and strategic initiatives to bring push to every common data device.
STRATEGIC ALLIANCES: BackWeb and IBM announced that IBM has embraced BackWeb's Polite Push into IBM's
eBusiness solution map for CRM applications in the financial services and telecommunications industries. KPMG
Consulting also announced that KPMG has embraced BackWeb's Polite push infrastructure within KPMG Consulting's
eWorkforce solution. BackWeb also extended its broad ubiquity play with the official launch of the Polite Push-enabled
RealNetworks, Inc. RealJukebox(TM) the Real.com Music Delivery Service.
BROAD CUSTOMER ADOPTION: Strong Q2 2000 revenues resulted from mounting demand among both new and
existing customers. New customer wins include Caterpillar, Delano, ElasticEdge, EC-Gate, Philip Morris, Amicada, Gigabell
and Integrisys. Also contributing to Q2 revenues were sales to existing BackWeb customers, including Nortel Networks,
Lucent Technologies, Ford Motor Co., ISI Mars, Hewlett-Packard Company, Siemens, Global Techno and NTTLS.
NEXT-GENERATION PUSH TECHNOLOGY: BackWeb debuted the Push Application Server, which features
first-of-its-kind technology to support multiple delivery methods via Internet and wireless and incorporating standard
CORBA and XML interfaces.
UNIVERSAL PUSH INITIATIVE: BackWeb launched an industry-wide initiative to provide e-businesses with a single
communications infrastructure for any application to deliver content to any user on any common data device via BackWeb
Polite Push, e-mail, wireless, fax, and voicemail. BackWeb's vision for Universal Push garnered support from a broad range
of industry leaders -- including Hewlett-Packard Company and Lucent Technologies EMEA -- and builds upon BackWeb's
acquisition of wireless data delivery technology from Mobix Communications Ltd.
``We continue to see more and more killer apps for push in key e-business markets including e-CRM, Supply Chain, e-Commerce,
and now, Executive Communications,'' added Barkat. ``In fact, for the second quarter in a row, we have seen multiple corporate
wide infrastructure transactions where the driving need was Executive Communications via video.''
Conference Call
BackWeb has scheduled a conference call for 5:00 p.m. EDT today to discuss the second quarter results. Interested parties may
access the conference call over the Internet at backweb.com.
About BackWeb Technologies
BackWeb Technologies is a leading provider of Push for e-business solutions that enable companies to communicate
time-sensitive, business-critical information throughout the extended enterprise of customers, partners and employees. Via
Internet-based applications and proactive portals, corporations such as Cisco, Compaq, Hewlett-Packard, and Schlumberger have
deployed BackWeb's Polite Push Internet infrastructure for managing critical changes for key e-business and customer service
applications. BackWeb Technologies is headquartered in San Jose, California, and Ramat-Gan, Israel. For more information, visit
its web site at www.backweb.com or call (800) 863-0100.
Statements in this news release which are not purely historical are forward-looking statements within the meaning of the U.S.
Federal Securities laws, including, any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual
results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ
materially include changes in the competitive landscape including new competitors and/or the impact of competitive pricing and
products, dependence upon a limited number of key resellers and customers, timely availability and customer acceptance of new
and existing products, rapid changes in market conditions due to changing technological standards, fluctuations in quarterly results,
BackWeb's dependence upon and ability to attract and retain qualified employees, BackWeb's ability to integrate technology
acquired through acquisition with its existing technology, potential Year 2000 problems with BackWeb's products or internal
operating systems, and the risks and uncertainties detailed from time to time in BackWeb's periodic reports and registration
statements filed with the U.S. Securities and Exchange Commission. BackWeb undertakes no obligation to publicly update or
revise any forward-looking statements. |
