Broadvision Inc.
BroadVision Inc. english
BroadVision, Inc. Announces Estimated Revenues for First Quarter 2002
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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BroadVision, Inc. Announces Estimated Revenues for First Quarter 2002
– Company Also Announces Revised Third and Fourth Quarter 2001 Results –
REDWOOD CITY, Calif. – April 1, 2002 – BroadVision, Inc. (Nasdaq: BVSN), a
leading provider of personalized e-business applications, today announced that,
based on preliminary estimates, it expects revenue for the first quarter of 2002
to range between $29 million and $32 million. Results for the quarter were
adversely affected by the continued uncertainties surrounding the current IT
spending environment.
Separately, BroadVision announced restated financial results for the third
quarter and revised results for the fourth quarter and fiscal year ended
Dec. 31, 2001. These results are reflected in the Company’s 2001 Annual Report
on Form 10-K and amended 3rd quarter report on Form 10-Q being filed today. The
changes result from BroadVision’s recent determination that revenue related to
one software license agreement, which was originally recorded in its entirety in
the 3rd quarter of 2001, should instead be recognized ratably over the four-
year life of the agreement. BroadVision received payment in full in connection
with this transaction during 2001.
As a result of the changes, the Company’s total revenue for Q3 of 2001 decreased
by $3.5 million from $51.2 million as originally reported to $47.7 million as
restated, and basic pro forma loss per share for the third quarter of 2001
increased from $0.06 to $0.07. Basic reported loss per share increased from
$1.54 to $1.55. Because revenue associated with this agreement is now being
recognized over time, the Company’s total revenue for the fourth quarter of 2001
increased by $251,000 from $ 48.0 million as originally announced to $48.2
million as revised. Basic pro forma loss per share for Q4 of 2001 was unchanged
at $0.03 and basic reported loss per share decreased from $0.20 to $0.19.
For the fiscal year ended Dec. 31, 2001, the Company’s total revenue decreased
by $3.3 million from $247.8 million as originally announced to $244.5 million as
revised, and basic pro forma loss per share increased from $0.40 to $0.41.
Basic reported loss per share increased from $3.01 to $3.02.
Pro forma amounts exclude the amortization and impairment of goodwill and
intangibles, in-process technology charges, restructuring charges and non-
operating asset impairment charges.
end of ad-hoc-announcement (c)DGAP 01.04.2002
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
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 statement. 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.
+001-650 542 4659
bob.okunski@broadvision.com
BroadVision and BroadVision One-To-One are registered trademarks of BroadVision,
Inc. in the United States and other countries.
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WKN: 901599; ISIN: US1114121023; Index: NEMAX 50
Listed: Neuer Markt Frankfurt, Freiverkehr in Stuttgart, München, Berlin,
Bremen, Hamburg, Düsseldorf, Hannover
020001 Apr 02
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