Close
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Menu
Search
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Home Latest News

      Commerce One Sales Sink

      By
      Renee Boucher Ferguson
      -
      July 18, 2002
      Share
      Facebook
      Twitter
      Linkedin

        Commerce One Inc. late Tuesday announced that sales were down dramatically in the second quarter compared with the same quarter last year, and introduced a major product upgrade.

        The business-to-business software developers revenues for the quarter that ended June 30 totaled $27.8 million, compared with $101.3 million for the same quarter last year, and $31.8 million for the quarter ended March 31.

        Pro Forma net loss for the quarter came in at $38.4 million, or 13 cents per share, as compared with a loss of $96.7 million or 42 cents per share for the same year-ago period. Last quarter, the Pleasanton, Calif., company posted a net loss of $55.4 million, or 19 cents per share.

        The net loss on a GAAP basis was booked at $71.1 million, or 25 cents per share, as compared to a net loss of $2.1 billion, or $9.02 per share, for the same quarter in 2001.

        As a result of their losses, Commerce One officials announced plans to institute a reverse one-for-ten stock split, in a move to shore up the stock price. The companys Board of Directors authorized a special stockholders meeting to be held on Sept. 6 to seek approval for the split.

        “Our results continue to reflect very limited IT spending across all geographic and vertical markets,” said Commerce One Chairman and CEO Mark Hoffman, in a clipped conference call with financial analysts – few had questions for the struggling company. “However, we are seeing growth in the qualified pipeline for our Commerce One 5.0 suite while we build on our foundation in sourcing and procurement by developing our new Web services solutions.”

        Also yesterday, Commerce One rolled out its Web services integration platform that will leverage the companys experience in XML and standards-based development. As previously reported by eWEEK Online, the platform, Commerce One 6.0, is intended to lower the cost of enterprise application integration and development, as well as enable companies to create composite applications – casting Commerce One squarely in the hotly contested enterprise application integration and application development markets.

        The platform, targeted for beta in the fourth quarter, will also be the basis for a new suite of supplier relationship management Web services that will, according to Commerce One, extend value beyond existing sourcing and procurement applications.

        “This product focus, combined with careful expense management, comprise the critical building blocks of our future,” said Hoffman.

        Renee Boucher Ferguson

        MOST POPULAR ARTICLES

        Android

        Samsung Galaxy XCover Pro: Durability for Tough...

        Chris Preimesberger - December 5, 2020 0
        Have you ever dropped your phone, winced and felt the pain as it hit the sidewalk? Either the screen splintered like a windshield being...
        Read more
        Cloud

        Why Data Security Will Face Even Harsher...

        Chris Preimesberger - December 1, 2020 0
        Who would know more about details of the hacking process than an actual former career hacker? And who wants to understand all they can...
        Read more
        Cybersecurity

        How Veritas Is Shining a Light Into...

        eWEEK EDITORS - September 25, 2020 0
        Protecting data has always been one of the most important tasks in all of IT, yet as more companies become data companies at the...
        Read more
        Big Data and Analytics

        How NVIDIA A100 Station Brings Data Center...

        Zeus Kerravala - November 18, 2020 0
        There’s little debate that graphics processor unit manufacturer NVIDIA is the de facto standard when it comes to providing silicon to power machine learning...
        Read more
        Apple

        Why iPhone 12 Pro Makes Sense for...

        Wayne Rash - November 26, 2020 0
        If you’ve been watching the Apple commercials for the past three weeks, you already know what the company thinks will happen if you buy...
        Read more

        eWeek has the latest technology news and analysis, buying guides, and product reviews for IT professionals and technology buyers. The site’s focus is on innovative solutions and covering in-depth technical content. eWeek stays on the cutting edge of technology news and IT trends through interviews and expert analysis. Gain insight from top innovators and thought leaders in the fields of IT, business, enterprise software, startups, and more.

        Facebook
        Linkedin
        RSS
        Twitter
        Youtube

        Advertisers

        Advertise with TechnologyAdvice on eWeek and our other IT-focused platforms.

        Advertise with Us

        Menu

        • About eWeek
        • Subscribe to our Newsletter
        • Latest News

        Our Brands

        • Privacy Policy
        • Terms
        • About
        • Contact
        • Advertise
        • Sitemap
        • California – Do Not Sell My Information

        Property of TechnologyAdvice.
        © 2021 TechnologyAdvice. All Rights Reserved

        Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.

        ×