Apr 22, 2002 (08:04 PM EDT)
Pivotal Beats Expectations Despite Slower Sales
Read the Original Article at InformationWeek
Pivotal Corp. beat expectations for its third quarter, but like many other customer-relationship management vendors, it reported softening sales.
The company, which sells to companies with $250 million to $3 billion in revenue, signed 49 new customers in the quarter and says 63 of its existing customers increased their investments in Pivotal software during the quarter ended March 31.
Revenue was $17.7 million, compared with $16.7 million in the previous quarter and $26.6 million in the third quarter of last year. License revenue was $7.5 million, compared with $16.4 million in the same quarter last year. Revenue from services and maintenance was down slightly to $10.2 million, from $10.3 million last year. Net losses totaled $3.4 million, or 14 cents a share, compared with a net loss of $63 million, or $2.63 a share, in the previous quarter and a net loss of $5.7 million, or 24 cents a share, in the third quarter last year. President and CEO Bo Manning says he expects the 2002 calendar year to be flat or up only about 5%.