Broadvision Inc.
BroadVision Inc. english
BroadVision, Inc. Reports Results for Third Quarter 2001
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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REDWOOD CITY, Calif. – October 24, 2001 – BroadVision, Inc. (Nasdaq: BVSN), the
leading provider of enterprise self-service applications, today reported
financial results for the quarter ended September 30, 2001. Key financial
results for the quarter and comparisons versus prior quarters are as follows:
Three months ended Three months ended Three months ended
Sept. 30, 2001 (un- September 30, 2000 June 30, 2001
audited) pro forma
Revenues $51.2 million $120.2 million $57.4 million
Net Income (Loss)* ($16.7 million) $13.6 million ($53.1 million)
Diluted Earnings
(Loss) Per Share* ($0.06) $0.05 ($0.19)
*These pro forma computations exclude the amortization and impairment of
goodwill and acquired technology and restructuring charges.
Net loss for the third quarter on a generally accepted accounting principles
basis, including amortization and impairment of goodwill and acquired technology
and restructuring costs was $429.4 million or $1.54 per share, compared to a
net loss of $52.8 million or $0.20 per share for the quarter ended September 30,
2000. For the nine-month period ended September 30, 2001, the company recorded
a net loss of $777.4 million or $2.83 per share versus a net loss of $ 97.6
million or $0.38 per share, for the nine-month period ended September 30, 2000.
The expense control programs which BroadVision has implemented over the past 9
months, has enabled the company to reduce overall quarterly operating expenses
by more than $65 million, or 49%, since the beginning of the year.
Also in the quarter, in light of the adjustment of technology valuations and
current business outlook, the company took a non-cash charge of $336 million for
the write down of intangible assets, primarily goodwill related to its
acquisition of Interleaf, Inc. which was completed in the second quarter of
2000. Additionally, the company recorded a restructuring charge of approximately
$10 million for consolidation of facilities and severance related to the
reduction in force announced during the third quarter.
end of ad-hoc-announcement (c)DGAP 24.10.2001
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
“Though macroeconomic conditions remained difficult in the September quarter, I
am very encouraged by our performance as customers continued to choose
BroadVision as a key partner in their ongoing e-business initiatives. In this
environment, our ability to demonstrate to customers measurable ROI has been a
big advantage and gives us confidence that our enterprise self-service message
is right on target,” commented Dr. Pehong Chen, BroadVision’s president and CEO.
“Going forward, BroadVision will continue to monitor expenses carefully, given
the current environment, and look to further improve the efficiency of its
operational processes.”
“Earlier this week, we announced the appointment of Fran Barton as chief
financial officer. We are pleased to have Fran on board. His strong operational
experience will be invaluable as we continue our drive to restore profitability
and growth,” continued Dr. Chen. “With $222 million in cash and liquid
investments at the end of the quarter, broad customer acceptance of our 6.0
product line, and sharp focus on expense control, we firmly believe we have laid
the groundwork to achieve sustainable growth and profitability as economic
conditions improve.”
On the product front, BroadVision One-To-One Enterprise 6.0 platform and
applications continue to meet widespread analyst and customer acceptance, as
more than 440 customers and partners have received these products. In addition,
the company’s core business applications are now available on IBM’s AIX
platform, completing the portfolio that includes Sun Solaris, HP/UX, and Windows
2000.
New Customers, Live Sites and New Services
BroadVision signed 33 new customers during the quarter bringing the total number
of customers to more than 1,280 accounts. New customers include AM/PM Markets,
BancIntesa BCI, Energie Allianz Austria, Lockheed Martin, Seiko Epson, US Air
Force, etc. Major repeat customers for the quarter included Achmea Insurance,
Air France, Electronic Arts, France Telecom, GSA, Pitney Bowes and Zion’s Bank.
In addition, 40 new BroadVision-powered sites went live during the quarter
including General Services Administration’s GSA.gov, Citibank’s portal, State
Bank of India, Lafarge and just recently the My Bank of America consumer portal.
During the quarter, BroadVision formally launched its Solution Value Proposition
(SVP) program, designed to help organizations quantify the potential return on
their strategic e-business initiatives and to determine the most efficient,
effective ways to rapidly realize business value. In the 90 days of its
availability, more than 30 organizations have taken advantage of this new
program.
Information Concerning Forward-Looking Statements
Information in this release that involves expectations, beliefs, hopes, plans,
intentions or strategies regarding the future are forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934, which forward-looking statements involve
risk and uncertainties. All forward-looking statements included in this release
are based upon information available to BroadVision as of the date of this
release, and BroadVision assumes no obligation to update or correct any such
forward-looking statements. These statements are not guarantees of future
performance and actual results could differ materially from BroadVision’s
current expectations. Factors which could cause or contribute to such
differences include, but are not limited to: lack of market acceptance of
BroadVision’s products or services; BroadVision’s inability to continue to
develop competitive new products and services on a timely basis; introduction of
new products or services by competitors; general economic conditions and
BroadVision’s inability to attract and retain qualified employees. These and
other factors and risks associated with BroadVision’s business are discussed in
its most recent annual report on Form 10-K as filed with the Securities and
Exchange Commission and in BroadVision’s quarterly reports on Form 10-Q filed
subsequent to the filing of the Form 10-K.
About BroadVision
BroadVision’s (Nasdaq: BVSN, Neuer Markt: BDN) enterprise self-service
applications create immediate business value by transforming the way
organizations do business – moving relationships to a personalized, self-service
model that enhances growth, reduces costs and improves productivity. Leading
global companies use BroadVision to power their enterprise self-service
initiatives – using the web and wireless devices to unify and extend an
enterprise’s applications, information and business processes to serve its
employees, partners and customers in a personalized and collaborative way.
For more information about BroadVision, Inc., call 650.261.5100, email
info@broadvision.com or visit www.broadvision.com.
BroadVision Investor Relations Contact:
Bob Okunski
Director of Investor Relations
BroadVision Inc.
+1 650.542.4659
bob.okunski@broadvision.com
BroadVision, BroadVision One-To-One, BroadVision One-To-One Enterprise,
BroadVision Retail Commerce, BroadVision Business Commerce, BroadVision
MarketMaker, and BroadVision InfoExchange Portal are trademarks or registered
trademarks of BroadVision, Inc. in the United States and other countries. Other
names herein may be the property of their respective owners
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WKN: 901599; Index: NEMAX 50
Listed: Neuer Markt Frankfurt, Freiverkehr in Stuttgart, München, Berlin,
Bremen, Hamburg, Düsseldorf, Hannover
250014 Okt 01
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