BroadVision Sees 20% Slide In Sales, But Tallies Profit

Apr 24, 2003 (09:04 AM EDT)

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Portal software vendor BroadVision Inc. returned to profitability in its first quarter despite a 20% slowdown in sales from the same period one year earlier.

BroadVision reported a profit of $1.3 million, or 4 cents a share, on sales of $24.5 million, compared with a loss of $36.1 million, or $1.14 per share, on sales of $30.5 million one year ago. License sales declined slightly year over year to $8 million from $8.2 million, while service-related revenue suffered a more substantial 26% decline, to $16.5 million.

The vendor attributed the revenue decline to sales delays caused by seasonal factors and "economic and geopolitical uncertainties." The company's bottom line got a boost from a $1.4 million credit related to telecom costs that were renegotiated during the quarter.