Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0

E.PIPHANY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
(Unaudited)

Three months ended
---------------------
3/31/2004 3/31/2003
---------- ----------


Revenues:
Product license $ 7,106 $ 10,391
Services 13,123 12,120
---------- ----------

Total revenues 20,229 22,511
---------- ----------

Cost of revenues:
Product license 415 252
Services 5,774 7,560
Amortization of purchased technology 679 1,828
---------- ----------

Total cost of revenues 6,868 9,640
---------- ----------

Gross profit 13,361 12,871
---------- ----------

Operating expenses:
Research and development 6,673 8,549
Sales and marketing 8,431 12,313
General and administrative 2,705 2,572
Restructuring costs 636 2,243
Amortization of purchased intangibles - 152
Stock-based compensation - 27
---------- ----------

Total operating expenses 18,445 25,856
---------- ----------

Operating loss (5,084) (12,985)

Other income, net 928 2,112
---------- ----------
Net loss before provision for taxes (4,156) (10,873)

Provision for taxes 46 28
---------- ----------

Net Loss $ (4,202)$ (10,901)
========== ==========

Diluted net loss per share $ (0.06)$ (0.15)
========== ==========
Basic net loss per share $ (0.06)$ (0.15)
========== ==========

Shares used in computing basic and diluted
net loss per share 74,982 72,833
========== ==========

"As we stated in our preliminary earnings release on April 5, we are disappointed with our first quarter results," said Karen Richardson, Chief Executive Officer. "We continue to have success bringing customers live with our new products and have recently received the most visionary rating in the Gartner B2C CRM Suite Magic Quadrant. These are two factors underlying our confidence in our product strategy and our long-term prospects."

Kevin Yeaman, chief financial officer, added, "Our balance sheet at the end of the quarter remained strong, with cash and investments of approximately $269 million, deferred revenue of approximately $18 million, and DSOs remaining low at 35 days."

Second quarter outlook

For the quarter ending June 30, 2004, E.piphany currently expects total revenue to range between $19 million and $22 million, with license revenue ranging between $6 million and $9 million. Net loss per share on a GAAP basis for the second quarter is expected to range between $(0.03) and $(0.07).


Second quarter results will be reported July 22nd, 2004...

JTT


Print the post  

Announcements

When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement