Ariba Beats Wall Street Estimates
Although revenues were way down in its most recent quarter, Ariba CEO Bob Calderoni is confident the business-to-business e-commerce software company is on the upswing.Although revenues were down $115 million in its most recent quarter compared with a year ago, Ariba Inc. CEO Bob Calderoni is confident the business-to-business e-commerce software company is on the upswing. Revenues for Aribas fiscal year 2002 first quarter, which ended Dec. 31, 2001, were $55.3 million, down from $170.3 million for the same quarter in fiscal year 2001, the company reported Tuesday. Net loss for the quarter was $161.3 million, or 63 cents per share. During the same quarter last year the net loss was reported at $347.6 million, or a loss of $1.48 per share.
"This is definitely a turn around time for the company," said Calderoni. "Weve [instituted] a three-phase plan, with sequential improvement in stability, profitability and growth. Weve made tremendous progress in the first two.