Supply chain and revenue and pricing optimization software maker Manugistics Group Inc. announced its fiscal third quarter earnings after the close of the market Thursday.
The company posted a total revenue decrease for the quarter of $1.3 million, or $68.7 million total revenue, down from $70.0 million for the third quarter last year.
Software revenues for the quarter were $22.1 million, compared to $35.8 million for the same year ago period.
The company also reported an adjusted net loss of $7.6 million, or $.11 per share, compared to an adjusted net income of $3.7 million, or $.06 per share for the same period last year.
On the up side, for the nine-month period that ended November 30, Manugistics total revenue increased 28 percent to $229.5 million, from $178.7 million for the third quarter, 2000.
The company reported an adjusted net loss of $16.1 million, or $.24 per share, compared to an adjusted net income of $4.3 million, or $.08 per share for the same nine-month period last year.
Actual net losses for this quarter work out to $45 million, or $.66 per share, compared to an actual net income of $9.4 million, or $.16 per share for the third quarter last year.
Greg Owens, Manugistics chairman and CEO, said in a statement that despite an extremely difficult business climate and unprecedented economic disruptions, the company was able to manage relatively well.
Owens said the company is seeing a significant improvement in its forward visibility due to some success in signing several million-dollar-plus deals early in its fourth quarter.
Manugistics, of Rockville, Md., has established a target of $72 to $75 million total revenue for its fiscal fourth quarter – an increase of five to nine percent over the third quarter. The company also projects an adjusted net loss of $.05 to $.07 per share for the same time frame.
The company, which competes against the likes of i2 Technologies and SP AG, expects to achieve operating profitability during its first quarter of fiscal 2003.