Broadvision Inc.
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BroadVision, Inc. Announces Record Fourth Quarter and
Profitable Year-end 1999 Results
REDWOOD CITY, Calif. Jan. 26, 2000 BroadVision, Inc. (Nasdaq:
BVSN), the leading provider of personalized ebusiness
applications, today reported financial results for the quarter
ended December 31, 1999. In a separate announcement issued
today, the company announced that it has signed a definitive
agreement to acquire Interleaf, Inc. (Nasdaq: LEAF). Key to the
acquisition is the e-content company, a separate Interleaf
business unit dedicated to the development, marketing and sale of
XML-based content management tools. These tools enable the
creation, publication, management and re-use of dynamic,
intelligent content for web and wireless applications.
Key financial results for the quarter and comparisons versus
prior quarters are as follow in US$ million:
Q4’99 Q4’98 Growth Q3’99 Growth
Revenue 43.7 m 16.0 m 173% 29.8 m 47%
Operat. Income 5.9 m 1.4 m 321% 3.8 m 55%
Net Income 8.1 m 2.1 m 286% 4.5 m 80%
EPS (dil.) $0.09 $0.03 200% $0.05 80%
Key financial results for the year ended December 31,
1999 as compared to the same period of 1998 are as
follow in US$ million:
1999 1998 Growth
Revenues 115.5 50.9 127%
Operat. Income 15.3 1.9 705%
Net Income 18.8 4.0 370%
EPS (dil.) $0.22 $0.05 340%
“The fourth quarter was a record breaking quarter for
BroadVision,” said Dr. Pehong Chen, president and CEO
of BroadVision, Inc. The company reported our
highest figures ever for revenues, profits, cash
flow, new customer wins, new live sites, repeat
business and partner contribution and collaboration.
These quarterly figures capped off BroadVision’s best
year.
New Customers
During the quarter, BroadVision signed 86 new
licensed customers (79 end-user customers and 7
partner organizations) a record number for the
company.
A sampling of new BroadVision customers includes:
. Financial Services ABN AMRO, Banco Credito
Andorra,Banco Populare Bergamo, CommerzBank Kuwait,
GE Financial, GE Capital, Employers Reinsurance
Group (Div. of GE), MayBank, Paribas,
ReSourcePhoenix.com, Unicredito Italiano;
. Distribution (retail/wholesale) Amway Japan, GE
Supplies, Rand McNally & Co., United Grain
Growers, W. W. Grainger, Volkswagen;
. Manufacturing/High-Technology Agilent, Air
Liquide, Boeing, BuildNet, EuroStar, Evolve,
Novell, PSDi, Siemens ICN, Tecgnosis, Xilinx;
. Telecommunications/ISP Bell Atlantic, Nextlink
Interactive, Telecom Luxembourg;
. Dot.com – AFI, B2B, Beedo, eCandy, eHola.com,
eMD, eSalon, Harmony Central, Move.com,
Whereoware.com; and
. Other services Air Canada, Cardinal Health Inc.,
ForSoft, myseasons.com, Pfizer, Samsung Travel,
Swiss Post, UNext.com, X-Media.
Additionally, the company received significant
repeat business in new license revenues during the
quarter from a number of existing customers
including Circuit City, Development Bank of
Singapore, HelloAsia.com, Nortel Networks, Sears,
Wal-Mart, and others.
Partnership Expansion
BroadVision announced a significant partnership with
Siebel Systems. Both BroadVision and Siebel Systems
focus on delivering products and services that allow
organizations to build and maintain strong
relationships with their
customers. Through this partnership, Siebel
Systems and BroadVision are working together to
offer customers highly personalized e-business
applications that integrate customer information
with their sales, marketing and customer service
information systems.
Additionally, BroadVision reached application
service provider, or ASP, partnership agreements
with Corio and Zefer.
Worldwide Momentum
BroadVision experienced worldwide momentum in the
fourth quarter of 1999. With 22 new customers in
Europe, the company:
. Listed its shares on the Neuer Markt segment of
the Frankfurt Stock Exchange and became one of
the largest capitalized companies on the Neuer
Markt;
. Acquired Swiss integration specialists, Fidutec
Information Technology SA, for an undisclosed
sum;
. Announced many new European live sites, including
British Telecommunications online customer care
site, www.bt.com; www.e-exchange.com, an online
action of hightech products and services;
www.linksoflondon.com, an online retail store of
luxury gifts; and www.hamleys.com, a toy store.
BroadVision’s global presence continued to expand
outside of Europe. In Asia/Pacific, BroadVision
recently opened two
new offices, one in Taipei, Taiwan and BroadVision
Korea Company, a wholly owned BroadVision
subsidiary in Seoul, Korea. These offices will
complement the existing sales operations in
Singapore, Japan and China. In South and Central
America, BroadVision launched a new site with TAM
Airlines and formed strategic partnerships with
B2B, Inc., an ASP in Brazil; eHola.com, Inc, a
systems integrator, or SI, covering the Andean
region, South Cone region, Brazil and Mexico; and
QOS Labs, Inc, an ASP in Mexico.
Industry Accolades
During the quarter, BroadVision received a number
of industry awards and accolades. In November,
BroadVision was listed as one of the top Internet
software and services company in the FORTUNE-50
Index, was ranked second in BusinessWeek’s
InfoTech 100, and listed in SmartReseller as one
of the top 10 in the second annual 1999 Sm@rt 50
Companies issue. In December, BroadVision was
ranked first in Barron’s Listing of Best Internet
Companies and BroadVision One-To-One applications
made top honors in Information Week’s 10 Most
Important Products of 1999.
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