Broadvision Inc.
Ad hoc-Service: BroadVision Inc. english
Ad hoc announcement transmitted by DGAP.
The issuer has the sole responsibility of this announcement.
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BroadVision, Inc. Announces Preliminary First Quarter 2001 Results
– Company Plans Substantial Expense Reductions and Related One-Time Charge
in Q2
REDWOOD CITY, Calif. – April 2, 2001 – BroadVision, Inc.(Nasdaq: BVSN, Neuer
Markt: BDN), a leading provider of personalized e-business applications, today
announced that, based on preliminary estimates, it expects revenue for the
quarter ended March 31, 2001 will be between $85 million and $90 million, and
basic pro-forma loss per share, pending review of non-recurring items, will be
in the range of $0.14 to $0.16. The Company believes these results were
adversely affected by uncertainties surrounding the current economic and IT
spending environments, which caused customers to delay purchases of the
Company’s products.
As a result of these uncertainties, the Company announced it will implement a
number of initiatives to substantially reduce its operating expenses, including
a corporate-wide reorganization and related workforce reduction of approximately
325 people, or 15% of the Company’s workforce. Based on these actions, the
Company anticipates that it will record a one-time charge in the second quarter.
An estimate of this charge will be disclosed when the Company reports its
first quarter earnings on April 24th, 2001.
The Company also announced it has revised its previously released, unaudited
financial results for the fourth quarter ended December 31, 2000 to include
approximately $4 million of additional expenses. These additional expenses were
identified by the Company subsequent to the press release issued on January 25,
2001 and were promptly brought to the attention of the company’s independent
auditors. These expenses reduced reported fourth quarter diluted pro-forma
earnings per share to $0.01 from $0.02 and full fiscal year 2000 pro-forma
earnings per share to $0.12 from $0.13, on a fully diluted basis.
end of ad hoc announcement, (c) DGAP 02.04.2001
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WKN: 901599; Index: NEMAX 50
Listed: Neuer Markt Frankfurt, Freiverkehr in Stuttgart, München, Berlin,
Bremen, Hamburg, Düsseldorf, Hannover
030016 Apr 01
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