INTRAWARE Inc. Shares ( WKN 919292 ):
Am 2.10 mit Ergebnissen DEUTLICH über den Erwartungen.
Spanne USA 0,8$ zu 1,29$!
Hier Spanne 0,8 zu 0,9E., nun ja, mal schauen, ob man für 0,8E. noch rein kommt!
Die Meldung:
Intraware Narrows EBITDA Loss to $1.1 Million; Gross Margin Improves to 40% from 35% as Company Continues to Focus on Proprietary Products
ORINDA, Calif., Oct 2, 2001 (BUSINESS WIRE) -- Intraware, Inc. (Nasdaq: ITRA), a
leading provider of electronic software management and information technology
(IT) management solutions, today announced financial results for the second
quarter of fiscal year (FY) 2002 ended August 31, 2001.
The company achieved significant progress towards EBITDA profitability,
narrowing its EBITDA loss to $1.1 million, from $1.8 million in the preceding
quarter. In addition, as a result of the company's focus on its proprietary
asset management and software delivery solutions, gross profit margins improved
to 40% from 35% in the preceding quarter.
"We are pleased that our gross profit as a percent of revenue and EBITDA were at
their best levels since the inception of the company, a trend we expect to
continue in the coming quarters," said Peter Jackson, chief executive officer of
Intraware. "We remain focused on achieving positive EBITDA and are determined to
realize that milestone this fiscal year."
Total revenues for the second quarter of FY 2002 were $13.6 million, compared to
$32.6 million in the corresponding quarter last year and $15.3 million in the
immediately preceding quarter ended May 31, 2001. The decline in total revenues
is a result of the company's transition away from reselling third party software
products. Online services and technology revenues represented 30% of total
revenues in the second quarter of FY 2002, compared to 20% in the same period
last year and 28% in the first quarter of FY 2002.
Gross profit for the second quarter of FY 2002 ended August 31, 2001 was $5.4
million, compared to $11.0 million in the corresponding quarter a year ago and
$5.4 million in the previous quarter ended May 31, 2001. During the second
quarter of FY2002, Intraware incurred a first-time non-cash warrant charge of
approximately $200,000 to revenue and gross profit.(1)
The EBITDA loss before restructuring charges, interest, taxes, depreciation,
stock-based compensation, amortization, warrant charges, and charges related to
preferred stock and promissory notes financings was $1.1 million or $(0.04) per
share for the quarter ended August 31, 2001, compared to an EBITDA loss of $7.7
million or $(0.29) per share for the same quarter a year earlier and an EBITDA
loss of $1.8 million or $(0.06) per share for the quarter ended May 31, 2001.
Net loss attributable to common stockholders was $20.1 million or $(0.71) per
share in the quarter ended August 31, 2001, compared to a net loss attributable
to common stockholders of $11.8 million or $(0.45) per share in the prior year's
second quarter. The net loss attributable to common stockholders includes
charges of $5.4 million related to preferred stock and promissory notes
financings as well as a restructuring charge of $8.6 million. The restructuring
charge consists primarily of impairments of intangible assets and fixed assets,
and impairments of future lease obligations and severance payments. This
restructuring was necessitated by the transition from our third-party resale
business and the resulting reorganization. Net loss attributable to common
stockholders for the immediately preceding quarter ended May 31, 2001 was $7.8
million or $(0.28) per share.
"Our strategy of focusing the company on our proprietary products and services,
developing strong channel partners, and closely controlling our costs is paying
off," said Frost Prioleau, president of Intraware. "That progress on the
operating front, when coupled with our recent attainment of additional
financing, puts Intraware in a strong position to achieve our goals going
forward."
In an effort to accelerate the company's drive toward profitability, Intraware
reduced its workforce in August to 118 employees from 186 at the end of July and
consolidated its two Bay Area offices into one. The organization now operates in
two business units, one focused on its proprietary Asset Management software
products and services, and the other focused on its SubscribeNet online software
delivery service and associated software marketing services. As a result of the
reductions, Intraware expects its quarterly operating expenses beginning in the
third fiscal quarter ending November 30, 2001 to be approximately $2.5 million
lower than in its quarter ended August 31, 2001.
Business Outlook: Second Quarter and FY 2002
The following statements are forward looking and are based on current
expectations. These expectations are based on preliminary estimates and are
subject to adjustment in the future. Actual results may differ materially and
are subject to risks and uncertainties. The company believes these risks and
uncertainties have become heightened in recent weeks and will remain so through
the remainder of its fiscal year.
-- Revenue for the third quarter of FY 2002 is expected to be in
the range of $7 to $8 million, with a decline in our 3rd party
software sales partially offset by an increase in our revenue
from our proprietary online services and technologies. Revenue
for FY 2002 is expected to be between $48 and $50 million. Our
projected revenues include estimated non-cash warrant charges
as an offset to revenue of $270,000 for the third quarter and
approximately $1.47 million for fiscal year 2002.(1)
-- Gross profit for the third quarter of FY 2002 is expected to
be in the range of $4.0 to $4.2 million. For FY 2002, the
company expects gross profit to range between $20 and $21
million. Included in this gross profit forecast is the effect
of the non-cash warrant charges mentioned above.(1)
-- EBITDA loss per share, excluding non-recurring charges and
certain cash and non-cash charges such as expenses and
amortization related to acquisitions, restructuring,
depreciation, interest expense, interest income, the stock
based compensation charge, warrant charges, and any charges
related to the preferred stock, promissory notes financings,
and warrants is expected to range between break-even and
($0.04) for the third quarter and between ($0.06) and ($0.13)
for full fiscal year 2002.
-- Including non-recurring charges and the previously mentioned
cash and non-cash charges, Intraware expects a per share loss
attributable to common stockholders of between ($0.25) and
($0.29) for the third quarter and between ($1.41) and ($1.48)
for the full FY 2002.
About Intraware
Intraware, Inc. (Nasdaq: ITRA) is a leading provider of electronic software
management and information technology (IT) management solutions that enable
corporations to optimize their IT investments. Intraware's unique spectrum of
innovative IT management solutions has attracted strategic relationships with
industry-leading vendors such as Computer Associates International, Inc.,
Corporate Software, iPlanet E-Commerce Solutions, a Sun-Netscape Alliance,
PeopleSoft, Inc., and Lockheed Martin Corporation. Intraware is headquartered in
Orinda, California, and can be reached by phone at 888/446-8729, 925/253-4500 or
www.intraware.com.
Conference Call and Web Cast Information
There will be a conference call accessible by telephone and via a simultaneous
web cast over the Internet at www.shareholder.com/intraware/medialist.cfm
beginning at 2:00 p.m. Pacific Time on October 2, 2001. The live conference call
dial in number is 913/981-5508 and the confirmation code is 602286. A replay of
the call will be available for two weeks following the live call by dialing
719/457-0820 and entering confirmation code 602286.
Forward Looking Statements
The statements in this news release referring to the company's expected
improvement in its gross profit margin and operating income (excluding certain
non-cash items), its determination to achieve positive EBITDA during its current
fiscal year, its expectation that quarterly operating expenses beginning in the
third fiscal quarter ending November 30, 2001 will be approximately $2.5 million
lower than in its quarter ended August 31, 2001, and expected revenue, gross
profit, EBITDA, and loss per share attributable to common stockholders in its
fiscal quarter ending November 30, 2001 and fiscal year ending February 28,
2002; and other statements in this release which are not historical facts, may
be deemed to be forward-looking statements involving a number of risk factors
and uncertainties. Factors that could cause actual results to differ materially
from those anticipated in this news release include a failure by the company to
maintain, generate or procure sufficient cash, or adequately manage its working
capital, to finance its planned expansion of operations and product development
or satisfy its liquidity needs; failure of recently signed agreements between
the company and Corporate Software and between the Company and Computer
Associates International, Inc. to generate expected cash flows or revenue; loss
or delay of sales of Intraware's products and services due to concerns by
prospective customers about general economic conditions or Intraware's financial
strength; unanticipated delays in the release of product and service
enhancements currently in development by Intraware; unanticipated technical or
operational problems in customers' implementation of Intraware's products and
services; the introduction of competitive services and products by other
companies; the early stage of development of the market in which Intraware
operates and susceptibility of this market to rapid shifts; reluctance by
potential customers to procure software online due to security and other
concerns; and interruptions in Intraware's online services due to unanticipated
technical problems. Further information on potential factors that could affect
Intraware's financial results is included in Intraware's Form 10-K for the 2001
fiscal year filed with the Securities and Exchange Commission (SEC) on June 13,
2001, and Intraware's Form 10-Q for its first fiscal quarter of the 2002 fiscal
year filed with SEC on July 13, 2001. Copies of this and other Intraware filings
with the SEC are available from Intraware without charge or online at
www.intraware.com.
Note to Editors: "Intraware" and "SubscribeNet" are registered trademarks of
Intraware, Inc. All other company, product and service names mentioned herein
may be trademarks of their respective owners.
Am 2.10 mit Ergebnissen DEUTLICH über den Erwartungen.
Spanne USA 0,8$ zu 1,29$!
Hier Spanne 0,8 zu 0,9E., nun ja, mal schauen, ob man für 0,8E. noch rein kommt!
Die Meldung:
Intraware Narrows EBITDA Loss to $1.1 Million; Gross Margin Improves to 40% from 35% as Company Continues to Focus on Proprietary Products
ORINDA, Calif., Oct 2, 2001 (BUSINESS WIRE) -- Intraware, Inc. (Nasdaq: ITRA), a
leading provider of electronic software management and information technology
(IT) management solutions, today announced financial results for the second
quarter of fiscal year (FY) 2002 ended August 31, 2001.
The company achieved significant progress towards EBITDA profitability,
narrowing its EBITDA loss to $1.1 million, from $1.8 million in the preceding
quarter. In addition, as a result of the company's focus on its proprietary
asset management and software delivery solutions, gross profit margins improved
to 40% from 35% in the preceding quarter.
"We are pleased that our gross profit as a percent of revenue and EBITDA were at
their best levels since the inception of the company, a trend we expect to
continue in the coming quarters," said Peter Jackson, chief executive officer of
Intraware. "We remain focused on achieving positive EBITDA and are determined to
realize that milestone this fiscal year."
Total revenues for the second quarter of FY 2002 were $13.6 million, compared to
$32.6 million in the corresponding quarter last year and $15.3 million in the
immediately preceding quarter ended May 31, 2001. The decline in total revenues
is a result of the company's transition away from reselling third party software
products. Online services and technology revenues represented 30% of total
revenues in the second quarter of FY 2002, compared to 20% in the same period
last year and 28% in the first quarter of FY 2002.
Gross profit for the second quarter of FY 2002 ended August 31, 2001 was $5.4
million, compared to $11.0 million in the corresponding quarter a year ago and
$5.4 million in the previous quarter ended May 31, 2001. During the second
quarter of FY2002, Intraware incurred a first-time non-cash warrant charge of
approximately $200,000 to revenue and gross profit.(1)
The EBITDA loss before restructuring charges, interest, taxes, depreciation,
stock-based compensation, amortization, warrant charges, and charges related to
preferred stock and promissory notes financings was $1.1 million or $(0.04) per
share for the quarter ended August 31, 2001, compared to an EBITDA loss of $7.7
million or $(0.29) per share for the same quarter a year earlier and an EBITDA
loss of $1.8 million or $(0.06) per share for the quarter ended May 31, 2001.
Net loss attributable to common stockholders was $20.1 million or $(0.71) per
share in the quarter ended August 31, 2001, compared to a net loss attributable
to common stockholders of $11.8 million or $(0.45) per share in the prior year's
second quarter. The net loss attributable to common stockholders includes
charges of $5.4 million related to preferred stock and promissory notes
financings as well as a restructuring charge of $8.6 million. The restructuring
charge consists primarily of impairments of intangible assets and fixed assets,
and impairments of future lease obligations and severance payments. This
restructuring was necessitated by the transition from our third-party resale
business and the resulting reorganization. Net loss attributable to common
stockholders for the immediately preceding quarter ended May 31, 2001 was $7.8
million or $(0.28) per share.
"Our strategy of focusing the company on our proprietary products and services,
developing strong channel partners, and closely controlling our costs is paying
off," said Frost Prioleau, president of Intraware. "That progress on the
operating front, when coupled with our recent attainment of additional
financing, puts Intraware in a strong position to achieve our goals going
forward."
In an effort to accelerate the company's drive toward profitability, Intraware
reduced its workforce in August to 118 employees from 186 at the end of July and
consolidated its two Bay Area offices into one. The organization now operates in
two business units, one focused on its proprietary Asset Management software
products and services, and the other focused on its SubscribeNet online software
delivery service and associated software marketing services. As a result of the
reductions, Intraware expects its quarterly operating expenses beginning in the
third fiscal quarter ending November 30, 2001 to be approximately $2.5 million
lower than in its quarter ended August 31, 2001.
Business Outlook: Second Quarter and FY 2002
The following statements are forward looking and are based on current
expectations. These expectations are based on preliminary estimates and are
subject to adjustment in the future. Actual results may differ materially and
are subject to risks and uncertainties. The company believes these risks and
uncertainties have become heightened in recent weeks and will remain so through
the remainder of its fiscal year.
-- Revenue for the third quarter of FY 2002 is expected to be in
the range of $7 to $8 million, with a decline in our 3rd party
software sales partially offset by an increase in our revenue
from our proprietary online services and technologies. Revenue
for FY 2002 is expected to be between $48 and $50 million. Our
projected revenues include estimated non-cash warrant charges
as an offset to revenue of $270,000 for the third quarter and
approximately $1.47 million for fiscal year 2002.(1)
-- Gross profit for the third quarter of FY 2002 is expected to
be in the range of $4.0 to $4.2 million. For FY 2002, the
company expects gross profit to range between $20 and $21
million. Included in this gross profit forecast is the effect
of the non-cash warrant charges mentioned above.(1)
-- EBITDA loss per share, excluding non-recurring charges and
certain cash and non-cash charges such as expenses and
amortization related to acquisitions, restructuring,
depreciation, interest expense, interest income, the stock
based compensation charge, warrant charges, and any charges
related to the preferred stock, promissory notes financings,
and warrants is expected to range between break-even and
($0.04) for the third quarter and between ($0.06) and ($0.13)
for full fiscal year 2002.
-- Including non-recurring charges and the previously mentioned
cash and non-cash charges, Intraware expects a per share loss
attributable to common stockholders of between ($0.25) and
($0.29) for the third quarter and between ($1.41) and ($1.48)
for the full FY 2002.
About Intraware
Intraware, Inc. (Nasdaq: ITRA) is a leading provider of electronic software
management and information technology (IT) management solutions that enable
corporations to optimize their IT investments. Intraware's unique spectrum of
innovative IT management solutions has attracted strategic relationships with
industry-leading vendors such as Computer Associates International, Inc.,
Corporate Software, iPlanet E-Commerce Solutions, a Sun-Netscape Alliance,
PeopleSoft, Inc., and Lockheed Martin Corporation. Intraware is headquartered in
Orinda, California, and can be reached by phone at 888/446-8729, 925/253-4500 or
www.intraware.com.
Conference Call and Web Cast Information
There will be a conference call accessible by telephone and via a simultaneous
web cast over the Internet at www.shareholder.com/intraware/medialist.cfm
beginning at 2:00 p.m. Pacific Time on October 2, 2001. The live conference call
dial in number is 913/981-5508 and the confirmation code is 602286. A replay of
the call will be available for two weeks following the live call by dialing
719/457-0820 and entering confirmation code 602286.
Forward Looking Statements
The statements in this news release referring to the company's expected
improvement in its gross profit margin and operating income (excluding certain
non-cash items), its determination to achieve positive EBITDA during its current
fiscal year, its expectation that quarterly operating expenses beginning in the
third fiscal quarter ending November 30, 2001 will be approximately $2.5 million
lower than in its quarter ended August 31, 2001, and expected revenue, gross
profit, EBITDA, and loss per share attributable to common stockholders in its
fiscal quarter ending November 30, 2001 and fiscal year ending February 28,
2002; and other statements in this release which are not historical facts, may
be deemed to be forward-looking statements involving a number of risk factors
and uncertainties. Factors that could cause actual results to differ materially
from those anticipated in this news release include a failure by the company to
maintain, generate or procure sufficient cash, or adequately manage its working
capital, to finance its planned expansion of operations and product development
or satisfy its liquidity needs; failure of recently signed agreements between
the company and Corporate Software and between the Company and Computer
Associates International, Inc. to generate expected cash flows or revenue; loss
or delay of sales of Intraware's products and services due to concerns by
prospective customers about general economic conditions or Intraware's financial
strength; unanticipated delays in the release of product and service
enhancements currently in development by Intraware; unanticipated technical or
operational problems in customers' implementation of Intraware's products and
services; the introduction of competitive services and products by other
companies; the early stage of development of the market in which Intraware
operates and susceptibility of this market to rapid shifts; reluctance by
potential customers to procure software online due to security and other
concerns; and interruptions in Intraware's online services due to unanticipated
technical problems. Further information on potential factors that could affect
Intraware's financial results is included in Intraware's Form 10-K for the 2001
fiscal year filed with the Securities and Exchange Commission (SEC) on June 13,
2001, and Intraware's Form 10-Q for its first fiscal quarter of the 2002 fiscal
year filed with SEC on July 13, 2001. Copies of this and other Intraware filings
with the SEC are available from Intraware without charge or online at
www.intraware.com.
Note to Editors: "Intraware" and "SubscribeNet" are registered trademarks of
Intraware, Inc. All other company, product and service names mentioned herein
may be trademarks of their respective owners.
