Commerce One Reports Record Third Quarter 2000 Results;
Revenues Increase 987% to $112.7 Million; Net Operating Loss Per Share of $0.09 Beats Estimates
Business Editors
PLEASANTON, Calif.--(BUSINESS WIRE)--Oct. 19, 2000--
Company Accelerates Progress to Profitability;
Commerce One Claims Decisive E-Marketplace Leadership in
Strategic Industries and Global Markets
Commerce One, Inc. (Nasdaq:CMRC), the leader in global e-commerce solutions for business, today announced financial results for the quarter ended September 30, 2000.
Revenues for the current quarter totaled $112.7 million as compared with $10.4 million for the corresponding quarter in 1999 and $62.7 million for the quarter ended June 30, 2000. This represents an increase of 987% over revenues for the quarter ended September 30, 1999 and 80% over revenues for the quarter ended June 30, 2000. Net loss for the current quarter, excluding non-operating charges, was $14.7 million, or $0.09 per share, as compared to $10.3 million, or $0.07 per share, for the corresponding quarter in 1999 and $16.2 million, or $0.10 per share, for the quarter ended June 30, 2000. Including all charges, the net loss for the current quarter was $60.6 million, or $0.37 per share, as compared with a net loss of $10.4 million, or $0.07 per share, for the corresponding quarter ended September 30, 1999, and $43.1 million, or $0.28 per share, for the quarter ended June 30, 2000.
"Our excellent sequential revenue growth for the quarter reflects our successful drive toward clear market leadership," said Mark Hoffman, chairman and chief executive officer of Commerce One. "We have outpaced the competition by gaining the highest share of e-marketplace participation in strategic industries and global markets. With our acquisition of AppNet and alliances with SAP and others, we have also laid the foundation for the future, enabling Commerce One to further meet customer requirements in tomorrow's B2B market."
"We continue to make good progress on our path to profitability," said Hoffman. "In July 2000, we moved our profitability target date from the fourth quarter of 2001, to the third quarter of 2001. Based upon my assessment of our performance, today I am moving our profitability target date up to the second quarter of 2001."
Quarterly Highlights
The following milestones were completed or announced during the third quarter of 2000:
-- Commerce One added 96 new customers for the quarter bringing
the total customer count to 316 (excluding customers acquired
through the merger with AppNet, SAP customers who have
received shipments of Enterprise Buyer, the joint procurement
solution, and the more than 50 business service providers
whose services are now available through Commerce One.net).
New customers included mega exchanges, regional
e-marketplaces, net market makers and enterprise customers.
-- Commerce One's Global Trading Web of e-marketplaces continued
its rapid expansion to include 107 e-marketplaces, 47 of which
are currently operational. E-marketplaces recently going live
include Pantellos, Trade Alliance, Com2B and Exostar.
-- The company completed its acquisition of AppNet, Inc., the
premier provider of end-to-end Internet professional services.
The acquisition allows Commerce One to significantly enhance
its ability to deliver e-commerce services to its customers
and accelerates the pace of implementation for its
e-marketplaces worldwide.
-- Commerce One and SAPMarkets rolled out their jointly developed
products, MarketSet and Enterprise Buyer, which combine
Commerce One's e-marketplace infrastructure with
e-procurement, supply chain, product planning and analysis
applications from SAP and SAPMarkets.
-- SAPMarkets and Commerce One announced four jointly-enabled
e-marketplaces, including eHITEX, Enporion, Quadrem (Mining
and Metals), and ForestExpress, illustrating the immediate
traction gained by this important strategic alliance.
-- Commerce One announced new and expanded strategic alliances
with Microsoft, Intershop, GE Global eXchange Services,
Computer Sciences Corporation and Sterling Commerce. These
stragegic alliances greatly increased the potential number of
on-ramps to the Commerce One Global Trading Web.
-- Microsoft and Commerce One formed an alliance to drive the
growth of e-marketplace adoption and to develop and deliver
Commerce One e-marketplace infrastructure technologies
optimized for the Microsoft.NET Platform.
-- Commerce One launched the Commerce One Affiliate Program to
syndicate business services for e-marketplaces. More than 50
business services providers now make their services available
to buyers and suppliers on Commerce One.net(TM) and through
syndication to other e-marketplaces.
-- Commerce One's eLink 2000 conference on global e-commerce
attracted over 2,500 procurement, IT, marketing and financial
executives. The next eLink conference will be held in Hong
Kong, November 28-30, 2000. |
