Blue Martini Software Reports Fourth Quarter and Year 2001 Financial Results In Line With Company Guidance
SAN MATEO, Calif. , (01/23/2002)--Blue Martini Software, Inc., (NASDAQ: BLUE) today announced financial results for its fourth quarter and year ended December 31, 2001. For its fourth quarter, Blue Martini Software reported revenues of $10.1 million compared to revenues of $11.3 million in the third quarter and $27.5 million reported for the same period last year. On a pro forma basis, excluding the impact of restructuring charges and the amortization of deferred stock compensation, common stock warrants and intangible assets, Blue Martini Software reported fourth quarter pro forma net loss of $6.4 million, or ($0.10) per share compared to pro forma net loss of $8.5 million, or ($0.13) for the third quarter, and pro forma net loss of $5.2 million, or ($0.09) per share for the fourth quarter of 2000.
For the year ended December 31, 2001, Blue Martini Software reported revenues of $57.5 million as compared to revenues of $74.3 million reported for the year ended December 31, 2000. On a pro forma basis, excluding the impact of restructuring charges and the amortization of deferred stock compensation, common stock warrants and intangible assets, the company reported for the year ended December 31, 2001 a pro forma net loss $45.9 million or ($0.72) per share as compared to a pro forma net loss of $29.0 million, or ($0.54) per share for the year ended December 31, 2000.
For the fourth quarter, net loss, including restructuring charges and the amortization of deferred stock compensation, common stock warrants and intangible assets, was $9.2 million, or ($0.14) per share, as compared to a net loss of $15.0 million, or ($0.23) per share, for the third quarter, and a net loss of $14.7 million, or ($0.24) per share, for the fourth quarter of 2000. For the year ended December 31, 2001, net loss, including restructuring charges and the amortization of deferred stock compensation, common stock warrants and intangible assets, was $69.6 million, or ($1.09) per share, as compared to a net loss of $62.1 million, or ($1.52) per share, for the year ended December 31, 2000.
The impact of restructuring charges and the amortization of deferred stock compensation, common stock warrants, and intangible assets is summarized on pages 5 and 6 of this release. For additional information on Blue Martini Software`s reported results, see the accompanying financial tables.
"Even in a tough economic environment we continue to sign marquee customers who choose our applications based on our proven return on investment and quick time to market," said Monte Zweben, chairman and CEO, Blue Martini Software. "We will continue to conserve our resources judiciously and invest where it makes sense in order to build the next great enterprise software company."
About Blue Martini Software
Blue Martini Software provides eCRM applications for marketing and selling profitably across all channels, including websites, wireless devices, email and stores. Blue Martini applications help customers lower costs and increase revenues by automating content and catalog management, direct marketing, interactive selling, channel-enablement and customer service. Blue Martini Software serves customer-focused global leaders in retail, manufacturing and consumer goods. Blue Martini Software can be reached at 650-356-4000 or www.bluemartini.com.
Blue Martini Software`s fourth quarter financial results will be discussed Wednesday, January 23, 2002 at 4:30pm EST/1:30pm PST 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 also will be available at the website for a limited time.
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 may be the trademarks of their respective owners.
This news release regarding Blue Martini Software includes forward-looking statements that are subject to 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: delays in the development or release of new applications or application enhancements by Blue Martini Software: customization, deployment and/or operational delays or errors associated with Blue Martini Software`s applications or those of third parties; and Blue Martini Software`s need to maintain and enhance business relationships with systems integrators and other parties. Further details on these risks are set forth in Blue Martini Software`s filings with the Securities and Exchange Commission ("SEC"), including its filing on Form 10-Q for the quarter ended September 30, 2001. These filings are available on a website maintained by the SEC at http://www.sec.gov. These forward-looking statements are generally identified by words such as "expect," "anticipate," "will," "intend," "believe," "hope," "assume," "estimate," "plan," "should," "designed to" and other similar words and expressions. Blue Martini Software does not undertake an obligation to update forward-looking statements.
Contact:
Kate Sellers Blatt
Blue Martini Software
650-356-7851
kateb@bluemartini.com
Karen Keating
Financial Relations Board
415-986-1591
ir@bluemartini.com
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