Gruss E.
MARIMBA: Marimba announces second-quarter 2003 financial results Revenue up 13% year over year; EPS of $0.03; Cash and investments up $3.3 Million
Jul 30, 2003 (M2 PRESSWIRE via COMTEX) -- Marimba, Inc., the Software Change
Management Company, today announced its financial results for the second quarter
ended June 30, 2003.
Second quarter 2003 revenues were $10.2 million, compared with $10.1 million for
the first quarter of 2003 and up 13% from $9.0 million for the second quarter of
2002. Net income for the second quarter of 2003 was $704,000 or a profit per
diluted share of 3 cents. This compares with net income of $343,000, or 1 cent
per diluted share, sequentially and a net loss of $5.3 million, or 22 cents per
diluted share, during the second quarter of 2002.
At June 30, 2003, the company's cash and total investments were $51.2 million,
up $3.3 million from the prior quarter.
"We're pleased that Marimba has shown progress on a number of fronts," said Rich
Wyckoff, president and CEO of Marimba. "On the financial side, we've now had
three consecutive quarters of GAAP profitability. On the product side, we had a
prolific quarter, shipping a number of new and enhanced products to help our
customers solve their most difficult software management challenges. We also
added a significant number of new customers during the quarter and had a strong
contribution from the government sector."
Highlights for the second quarter included:
* New customer wins across multiple industry segments, including Credit
Lyonnais, Crown Media Holdings, MDC Holdings, Reality Group Ltd., Starbucks
Corporation, and Synopsys.
* Repeat customer wins, including Circuit City Stores, Credit Agricole,
Dillard's, H&R Block, Oce, Ultimate Electronics, Verizon, and Washington Mutual.
* Sales to multiple entities in the public sector, including a U.S. federal
government intelligence agency, a unit of the French postal service, and a
government agency in Singapore.
* Shipped next-generation migration solution, which reduces the time and costs
required to manage operating system deployments and migrations.
* Shipped Device Management product to support PDAs and handheld devices.
* Shipped Server Change Management product enhancements to further increase our
customers' ability to manage large heterogeneous data centre environments.
Marimba has scheduled a conference call for today at 2:00pm PT (5:00pm ET) to
discuss its financial results for the second quarter 2003. Anyone wishing to
participate may do so by calling 719-457-2625 approximately 10 minutes prior to
the start of the call.
This conference call will be Webcast live, and the Webcast will be available via
the Investor page of Marimba's Website at
www.marimba.com/investor/conference_call.html for 3 weeks and on an archived
basis for up to 11 months thereafter. In addition, a telephone replay of the
conference call will be available for 3 weeks at 719-457-0820, passcode 167754.
About Marimba
Marimba, Inc., the Software Change Management Company, is headquartered in
Mountain View, Calif. Marimba's Desktop/Mobile Management, Server Change
Management, and Embedded Management product families allow Global 2000 companies
to better manage their IT resources, increase operational efficiency and reduce
IT costs. Additional information is available at www.marimba.com.
This announcement contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, and is subject to the safe harbors created by these
sections. These forward-looking statements include statements regarding
profitability, sales to new and repeat customers, contribution from the
government sector, product development, and product features and benefits.
The results expected by the forward-looking statements in this announcement are
subject to a number of risks and uncertainties, including: the ability of
Marimba to effectively manage its costs and expenses at expected levels against
uncertain revenue expectations, unanticipated costs and expenses that Marimba
may need to incur, the potential for a decrease in net revenue which may be
caused by reliance on a few large transactions for a significant portion of
revenues in any period, delays in the timing of sales and the delivery of
products or services, fluctuations in customer and market demand, competition
from other vendors, the operational, technical and strategic challenges Marimba
faces in product development, and general economic, technological and market
conditions. Actual results may differ materially from the results anticipated by
these forward-looking statements due to the factors listed above and other
factors. The matters discussed in this announcement also involve risks and
uncertainties described from time to time in Marimba's filings with the
Securities and Exchange Commission (SEC). In particular, see the Risk Factors
described in Marimba's most recently filed Annual Report on Form 10-K and
Quarterly Reports on Form 10-Q, each as submitted to the SEC and as may be
updated or amended with future filings or submissions. Marimba undertakes no
obligation to release publicly any updates or revisions to any forward-looking
statements contained in this announcement that may reflect events or
circumstances occurring after the date of this announcement.
CONTACT: Adrian Rayner, Marimba Software UK Ltd Tel: +44 (0)118 949 7060 Fax:
+44 (0)118 963 7584 Kathryn Hughes/Seema Lalloo, Spreckley Partners Ltd Tel: +44
(0)20 7388 9988 Fax: +44 (0)20 7388 8588
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