Improved License Revenue, Net Loss and Cash Burn
SAN MATEO, Calif., July 22 -- Blue Martini Software, Inc. (NASDAQ:BLUE) today reported financial results for the second quarter of 2003. Total revenues were $7.9 million for the second quarter of 2003 compared to $8.5 million for the second quarter of 2002 and $7.7 million for the first quarter of 2003. License revenues for the second quarter of 2003 were $2.5 million, an increase from $1.6 million for the second quarter of 2002, and from $1.8 million for the first quarter of 2003.
Blue Martini Software reported net loss of $4.7 million, or $0.45 per share, for the second quarter of 2003, an improvement over net loss of $13.1 million, or $1.28 per share, for the second quarter of 2002 and net loss of $5.4 million, or $0.51 per share, for the first quarter of 2003.
Blue Martini Software had cash, cash equivalents and short-term investments totaling $51.6 million at June 30, 2003, a decrease of $4.3 million in the second quarter of 2003, an improvement over the decrease of $10.1 million in the second quarter of 2002 and the decrease of $4.9 million in the first quarter of 2003.
"I am pleased with the significant increase in our license revenues and the continued improvement in both net loss and cash burn," said Monte Zweben, Chairman and CEO, Blue Martini Software. "As we committed last quarter, we have increased our license revenues by 43% over last quarter and 58% over the prior year -- reflecting customers` increasing adoption of our intelligent selling systems -- while continuing to manage the business prudently. We remain focused on improving execution and increasing license revenues."
For additional information on Blue Martini Software`s reported results, see the accompanying financial tables.
Blue Martini Software`s second-quarter financial results will be discussed Tuesday, July 22, 2003 at 4:30 pm ET (1:30 pm PT) and available by calling (703) 871-3597 at least 5 minutes prior to the start time, or by logging in to the investor relations section at www.bluemartini.com. A replay of the webcast will be available for at least three months at the Company`s website or by dialing 703-925-2533, passcode # 825967.
About Blue Martini Software: Blue Martini Software is the leading provider of intelligent selling systems. Innovative companies use our software to slash sales costs and improve customer and channel loyalty. Blue Martini intelligent selling systems deliver the expertise of a company`s best sales and marketing people through advisory applications for customers, sales people and partners. Our software uses unique "decide and act" capabilities to monitor key customer events and transitions, suggest optimal multi-channel responses, guide transactions, and measure the effectiveness of each action. Our customers include Carrefour, Debenhams, DuPont, Hewlett-Packard, Kohl`s, Lanier, Menards, Panasonic, Rhodia and Saks Fifth Avenue. With worldwide headquarters in San Mateo, California, Blue Martini Software can be reached at 650-356-4000 or www.bluemartini.com.
Note to editors: "Blue Martini" and "Blue Martini Software" are trademarks of Blue Martini Software, 2600 Campus Drive, San Mateo, CA 94403. Other product and company names mentioned in this news release may be the trademarks of their respective owners and are mentioned for identification purposes only.
This news release regarding Blue Martini Software`s second-quarter 2003 financial results includes forward-looking statements, based on current expectations, that involve risks, uncertainties and other factors that could cause actual results to differ materially from those referred to in the forward-looking statements. Such factors include, but are not limited to: risks associated with the development and licensing of software generally, including potential delays in software development or release and technical difficulties in software deployment or use; competition and technological changes and developments; and financial and other impacts of staffing reductions and other cost control measures. Details on these risks are set forth in Blue Martini Software`s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission ("SEC"). These filings are available on a website maintained by the SEC at www.sec.gov. Blue Martini Software assumes no obligation to update the information in this news release.