Onyx Cuts Loss, But Revenues Tumble
Onyx Software saw its first customer go live on its CRM On Demand hosted service in the third quarter. But that wasn't enough to offset a drop-off in revenues.Onyx Software Corp. saw its first customer go live on its CRM On Demand hosted service in the third quarter. But it wasnt enough to offset a drop-off in revenues in the period ended Sept. 30. Onyx, of Bellevue, Wash. posted revenues of $15.4 million in the quarter, down from $19 million in last years third quarter. License revenue accounted for the shortfall, coming in at just $3.6 million after hitting $7.3 million in the third quarter last year. Onyx lost just $259,000 in the quarter though, down from $884,000 in the same period a year ago.
Onyx added 30 new licenses in the quarter, 11 of them new customer wins. ScanHealth Inc. became the first customer to go live on Onyxs CRM On Demand service, which it offers in conjunction with IBM. The service is similar to Siebel Systems Inc.s recently announced Siebel CRM OnDemand service.