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Non-Tech : EARNINGS REPORTING - surprises, misses & more -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (705)	7/19/2001 9:08:50 PM
From: SusieQ1065	Read Replies (3) \| Respond to of 762

SPWX ($11-$13) Bigger than expected loss, but sees "Strong Visibility into their revenue for future quarters" Wednesday July 18, 5:47 pm Eastern Time SpeechWorks posts wider proforma loss (UPDATE: Recasts lead, adds net loss) NEW YORK, July 18 (Reuters) - Voice recognition software maker SpeechWorks International Inc. (NasdaqNM:SPWX - news) on Wednesday posted a bigger-than-expected second quarter loss, but said it had a clearer picture of its sales outlook as it entered the year's third quarter. The Boston-based company reported a pro forma share loss, which excludes charges and other items, of $9.3 million, or 29 cents a share, compared with losses of $6.6 million, or 29 cents a share in the year ago period. Analysts, on average, had expected SpeechWorks to post a loss per share of 23 cents, according to research firm Thomson Financial/First Call. In April, the company said it anticipated weaker second-quarter losses of between 20 cents and 25 cents. SpeechWorks revenues in the quarter ended in June totaled $10.4 million, excluding non-cash stock compensation charges. This represents a 72 percent increase compared with the $6 million reported in the same period of 2000. ``While revenues for the second quarter were down slightly from the first quarter, we are pleased that we enter the third quarter with strong visibility into our revenue for future quarters,'' said Chief Financial Officer Richard Westelman in a release. However, Westelman did not provide more detailed guidance. The company posted a net loss of $13.3 million, or 41 cents a share, compared to a net loss of $13.3 million, or $2.12 a share, a year ago on a smaller number of shares outstanding. Product license revenues for the second quarter rose 109 percent to $5.8 million, while professional services revenues increased 55 percent to $3.7 million. SpeechWorks said it added new customers in the communications sector -- like QWest, AgileTV and Microcell -- during the second quarter. Financial services firms Hartford and Diversified Investment Advisors also joined forces with the company in the period. Its international revenues accounted for about 13 percent of total revenues, down from the 17 percent reported in the year-earlier period. SpeechWork's share price plunged 7.66 percent to close at $12.05 Wednesday, up from a year low of $4.81, but nearly 90 percent below its year high of $108.5.