Broadvision Inc.
BroadVision Inc. english
BroadVision, Inc. Grows Second Quarter License Revenue 26% Sequentially
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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BroadVision, Inc. Grows Second Quarter License Revenue 26% Sequentially
– Company Trims Pro Forma Operating Expenses 9% from Q1 levels –
REDWOOD CITY, Calif. – July 24, 2002 – BroadVision, Inc. (Nasdaq: BVSN), a
leading provider of enterprise portal applications, today reported financial
results for the second quarter ended June 30, 2002. Revenues for the second
quarter of 2002 were $29.4 million, compared with revenues of $30.5 million for
the quarter ended March 31, 2002. License revenue for the second quarter of 2002
increased 26% to $10.3 million, from $8.2 million in the first quarter of 2002.
Pro forma net loss for the second quarter of 2002 declined to $13.7 million, or
$0.05 per share, from a pro forma net loss of $19.0 million, or $0.07 per
share, in the first quarter of 2002. Second quarter 2002 pro forma results
exclude charges totaling $43.0 million comprised of restructuring charges,
amortization of acquired technology, impairment of equity investments and a
valuation allowance on the company’s deferred tax asset. In the first quarter of
2002, pro forma results exclude charges totaling $17.1 million comprised of
restructuring charges, amortization of acquired technology, impairment of equity
investments and impairment of assets.
Net loss for the second quarter of 2002 on a generally accepted accounting
principles basis was $56.7 million or $0.20 per share, compared with a net loss
of $36.1 million, or $0.13 per share, for the first quarter of 2002 and a net
loss of $242.8 million, or $0.89 per share, for the quarter ended June 30, 2001.
end of ad-hoc-announcement (c)DGAP 24.07.2002
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
“I am pleased with our progress towards profitability on a pro forma basis in
the second quarter. Though IT spending conditions remained challenging, we
increased license revenue by 26% sequentially and reduced pro forma operating
expenses by 9% over the same period,” said Pehong Chen, BroadVision’s president
and CEO. “On the product front, the release of our 7.0 products at the end of
the second quarter is showing good response, and our sharpened focus on the
enterprise business portal space is resonating with customers seeking simple
solutions to unify business processes across the enterprise. We firmly believe
that our competitive positioning is strong, and our balance sheet is solid.
With continued careful expense management and encouraging license revenue
dynamics, we believe we are well-positioned to achieve breakeven results by the
end of this year.”
Customers and Products
New customers for the quarter included Cyphermint, Dansk Handel, Datasiel,
Kyocera Mita, Saudi Telecom, and Xinhua Online. Repeat customers included
Adaptec, British Telecom, Cardinal Health, Croner CCH, France Telecom, GE
Employers Reinsurance Corporation, Grupo Carso, Peugeot, Renault, Schneider
Electric and Vodafone.
During the second quarter of 2002, BroadVision also introduced its next-
generation enterprise business portal applications, signaling BroadVision’s
aggressive push into the enterprise portal market:
BroadVision One-To-One Portal 7.0, the company’s robust portal application for
deploying personalized business-to-employee (B2E), business-to-business (B2B)
and business-to-consumer (B2C) portals. BroadVision One-To-One Portal 7.0 is the
ideal choice for organizations that need to extend their enterprise
information, resources and business processes to employees, partners and
customers in a unified, personalized and collaborative way.
BroadVision One-To-One Commerce 7.0, the company’s portal-powered application
for cost-effectively automating and managing the entire online sales process.
The application delivers a highly tuned selling system that improves sales
effectiveness and efficiency.
Conference Call
Broadvision will hold a conference call to discuss this press release and
related matters at 2:00 pm Pacific Time, July 24, 2002. The call, hosted by Dr.
Pehong Chen, president and CEO of BroadVision, can be accessed live and for
seven days after the teleconference, by going to the investor relations section
of the company’s website at www.broadvision.com.
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) enterprise business portal 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 products as the basis for their enterprise business portal
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 650.542.5100, email
info@broadvision.com or visit www.broadvision.com.
BroadVision, BroadVision One-To-One, BroadVision One-To-One Portal ,and
BroadVision One-To-One Commerce 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.
BroadVision Contact:
Bob Okunski
BroadVision Investor Relations
+1 650-542-4659
bob.okunski@broadvision.com
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WKN: 901599; ISIN: US1114121023; Index: NEMAX 50
Listed: Neuer Markt Frankfurt, Freiverkehr in Stuttgart, München, Berlin,
Bremen, Hamburg, Düsseldorf, Hannover
242303 Jul 02
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