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.
"The interest in our portal platform continues to grow as customers recognize the return on investment in an enterprise-wide Web environment that delivers information and applications at lower cost," said Plumtree CEO John Kunze in a statement.
Kunze is looking ahead to next month when Plumtree will enter the content management space with a new offering built on previously acquired technology. Plumtree will also introduce new collaboration applications at that time.
"Combined with our portal software, these products are part of a new vision to bring together all the technologies our customers need to build Web applications that span traditional platforms and systems," said Kunze.
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