Broadvision Inc.
BroadVision Inc. english
BroadVision, Inc. Reports Fourth Quarter and Year End 2001 Results
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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BroadVision, Inc. Reports Fourth Quarter and Year End 2001 Results
Three Cent Pro Forma Loss per Share Beats Consensus, Excluding Asset Impairment
Charge
REDWOOD CITY, Calif. – January 24, 2002 – BroadVision, Inc. (Nasdaq: BVSN), a
leading provider of enterprise self-service applications, today reported
financial results for the fourth quarter and year ended December 31, 2001.
Revenues for the fourth quarter ended December 31, 2001 were $48.0 million,
compared with revenues of $51.2 million for the third fiscal quarter ended
September 30, 2001. License revenue for the fourth quarter of 2001 totaled
$20.8 million, a 6% sequential increase compared with the previous quarter. Pro
forma net loss for the quarter ended December 31, 2001 was $8.2 million or
$0.03 per share versus pro forma net loss of $15.9 million, or $0.06 per share,
in the third quarter. Pro forma results for both periods exclude the
amortization of goodwill and intangibles, in-process technology charges , as
well as restructuring charges, which in the fourth quarter totaled $20.0
million. In addition, pro forma results for the fourth quarter exclude an $8.8
million non-operating asset impairment charge to reflect the reduced market
value of equity investments made by the company, predominantly in early stage
companies.
Net loss for the fourth quarter on a generally accepted accounting principles
basis was $55.6 million or $0.20 per share, compared with a net loss of $64.0
million, or $0.24 per share, for the quarter ended December 31, 2000. For the
twelve-month period ended December 31, 2001, the company recorded a net loss of
$833.0 million or $3.01 per share versus a net loss of $161.6 million, or $0.62
per share, for the twelve-month period ended December 31, 2000. For the same
twelve-month period ended 2001, the pro forma net loss excluding impairments of
equity investments, impairment and amortization of goodwill and aquired
technology, the charge for aquired in-process technology, andrestructuring
charges was $110.5 million or $0.40 per share, compared with a net income of
$37.8 million or $0.13 per share for the twelve-month period ended December 31,
2000. Revenues for the total year 2001 were $247.8 million, compared to $413.9
million for the total year 2000.
end of ad-hoc-announcement (c)DGAP 24.01.2002
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
“Given the sluggish economy, we were pleased to deliver a narrower loss than
expected in the fourth quarter. Our fourth quarter results improved on a number
of fronts, including modest sequential growth in license revenue and a dramatic
reduction in our breakeven point driven by an aggressive expense management
campaign,” said Pehong Chen, BroadVision’s president and CEO. “This performance
in a challenging environment demonstrates our commitment to prudent fiscal
policy, while maintaining focused investment to preserve our technology and
thought leadership position, solution strength, customer satisfaction, and
execution capability. While the near-term outlook remains difficult to predict,
we believe our strong new product cycle, large installed base, and improved
efficiency all combine to position us for growth as industry conditions
improve.”
During the quarter, the company also furthered its reputation for providing its
customers with the latest technology to meet their e-business needs with the
release of BroadVision One-To-One Content 6.0, BroadVision’s next-generation
content management solution. BroadVision One-To-One Content 6.0 is revolutionary
in that it is a content management solution that supports every part of the
content management lifecycl e- including design, creation, management,
deployment, distribution, analysis and expiration of content. The product’s
advanced XML-based architecture allows customers to use the product with
BroadVision’s suite of enterprise self-service applications or to easily
integrate with other applications powered by leading J2EE-based application
servers.
New Customers and Live Sites
New BroadVision customers during the fourth quarter included Helzberg Diamonds,
Indian Rail, Methodist Healthcare System, Ministry of National Defense (Taiwan),
OMV and State of Minnesota. Major repeat customers for the quarter included
BASF, Becton Dickinson and Company, Boeing, British Telecom plc, Canadian
Imperial Bank of Commerce (CIBC), Compaq, FleetBoston Financial, Highmark, KPN,
Lafarge, Sears Roebuck and Co., State of California, Tellabs, US Air Force,
Vodafone, Xilinx, and Xerox. In addition, a number of BroadVision-powered sites
went live during the quarter including CIBC, Credit Suisse Private Banking,
Finnair, France Telecom, Lafarge, MultiCare Health System, NCR, Opodo and RS
Components.
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.
+001-650 542 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
250002 Jän 02
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