Facing yet another round of harmful quarter ending results, Commerce One Inc. released on Monday a revised financial outlook for its third quarter, which ended September 30.
The Pleasanton, Calif., company now expects revenues of approximately $80 to $83 million, undercut by an expected loss per share in the range of $0.24 to $0.25 cents, excluding non-operating charges.
Thats about $20 million less in revenues than second quarter revenues of $101.3 million – and almost $70 million less in earnings than the $170.3 million earnings reported in the first quarter of 2001.
Commerce One reported second quarter operating losses of $70.2 million, or $0.31 per share, and an operating loss of $25.5 million, or $0.11 per share for the first quarter of 2001.
Regarding this latest round of warnings, Mark Hoffman, chairman and CEO of Commerce One, said in a press release that despite persistent poor economic conditions, the company will continue to invest in its long term strategy of delivering its e-commerce platform – and achieving profitability.
Hoffman said the company will continue to "balance its cost structure with the current economic environment to enable a clear path to profitability."
What that balance means remains to be seen. Commerce One will announce its full third quarter results on October 17.