Plumtree Revenues, Earnings Down
The company is hoping a move into the content management software space will help improve its fortunes.In just its second quarterly earnings report since becoming a public company, Plumtree Software Inc. saw revenues and profits tumble for the third quarter, ended Sept. 30. Yet the company is hoping a planned entry into the content management software space this quarter will help to improve its fortunes. Revenues fell from $20.6 million to $17.8 million, led by a drop-off in license revenues from $13.5 million to $8.5 million. The San Francisco-based portal software developer posted an $889,000 loss for the quarter after turning in a $51,000 profit in the same period a year ago.
Plumtree did however increase its cash position for the quarter, from $62.8 million to $63.6 million and was cash flow positive, officials said. The company added 30 new customers for its flagship portal software in the quarter.