Commerce One Posts Big Loss
E-business software developer looks forward to an application integration makeover.Clearly still reeling from the tech slump, e-business software developer Commerce One Inc. on Thursday announced fourth-quarter and year-end 2002 financial results that closed out a dismal year for the company. Revenues for the quarter, ended Dec. 31, totaled $19.5 million, compared with $56 million for the same quarter in 2001. Revenues for the full year of 2002 were $105.5 million, versus revenues of $408.7 million in 2001. The net loss for the most recent quarter was $279.5 million, compared with a net loss of $168.3 million for the same quarter in 2001. The Pleasanton, Calif., companys loss for the year shrank to $589.8 million in 2002, from $2.6 billion in 2001.
Commerce One also announced that as part of its continuing effort to streamline operations it plans to reduce overall headcount to about 300 employees by the end of 2003. The companys Web site says it has about 700 employees currently. Those employees that remain will be focused primarily on the deployment of the new Commerce One 6.0 Conductor platform for application integration, scheduled for release in February.