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Technology Stocks : Ariba Technologies (Nasdaq-ARBA) -- Ignore unavailable to you. Want to Upgrade?

To: hdl who wrote (2030)	1/23/2002 8:16:03 AM
From: John Carragher	Read Replies (1) \| Respond to of 2110

Ariba Beats Expectations, Could Break Even by June A WALL STREET JOURNAL ONLINE News Roundup Ariba Inc. beat analysts expectations for the December quarter and said it expects to break even by June. The Sunnyvale, Calif., software company posted a net loss of $161.3 million, or 63 cents a share for the fiscal first quarter ending Dec. 31. Net loss for the same period last year was $347.6 million, or $1.48 a share. Ariba's pro forma loss, which excludes expenses related to the amortization of goodwill and other intangible assets, business partner warrants and stock-based compensation, was $6.9 million, or three cents a diluted share, compared with a year-ago profit of $14 million, or five cents a share. The company beat expectations of analysts surveyed by Thomson Financial/First Call, who expected a pro forma loss of five cents a share. Revenue dropped 68% to $55.3 million from $170.2 million a year earlier, hitting the upper end of the $50 to $55 million range previously forecast by the company. Analysts had estimated revenue of $52.7 million. "In light of the continued soft global economic environment, I am pleased with the solid results for the quarter," said Ariba's president and chief executive Bob Calderoni in a prepared statement. Ariba, which specializes in business-to-business software, said it could achieve pro forma break-even as early as June. Wall Street currently expects Ariba to lose four cents a share in the second quarter, three cents a share in the third quarter and one cent a share in the fourth quarter, on a pro forma basis. When Ariba reported its fiscal fourth-quarter results in late October, it said sales revenue had been halved as the Sept. 11 attacks stifled the already-reduced market for software. The company aggressively slashed costs last year, including several rounds of job cuts. In 4 p.m. Nasdaq Stock Market trading Tuesday, Ariba shares fell 13%, or 87 cents, to $5.93.