Blue Martini Software Reports First Quarter Results
SAN MATEO, Calif. , (04/25/2002)-- Blue Martini Software, Inc., (NASDAQ: BLUE) today announced financial results for the first quarter of 2002. For its first quarter of 2002, Blue Martini Software reported revenues of $8.5 million, compared to $10.4 million for the fourth quarter of 2001 and $21.4 million for the first quarter of 2001.
Blue Martini Software reported pro forma net loss of $7.4 million, or $0.11 per share for the first quarter of 2002, compared to a pro forma net loss of $6.4 million, or $0.10 per share for the fourth quarter of 2001 and $15.2 million, or $0.24 per share, for the first quarter of 2001. Pro forma net loss per share excludes restructuring charges and amortization of intangibles, stock compensation and stock warrants. Net loss including those charges was $7.3 million, or $0.11 per share for the first quarter of 2002, compared to a net loss of $9.2 million, or $0.14 per share for the fourth quarter of 2001 and $25.7 million, or $0.41 per share, for the first quarter of 2001.
In the March quarter, net loss was essentially the same as pro forma net loss, due to the accounting treatment of deferred stock compensation relating to departing employees, which resulted in net stock compensation being a credit, slightly larger then the charges associated with warrants, intangibles and restructuring.
As of March 31, 2002, Blue Martini had cash, cash equivalents and short-term investments totaling $88.9 million.
For additional information on Blue Martini Software`s reported results, including reclassifications of prior period financial information, see the accompanying financial tables.
"As the recovery broadens, we expect technology spending to increase and our software sales to improve. We remain convinced that great enterprise software companies provide more value by verticalizing their solutions with industry-specific functionality," said Monte Zweben, chairman and CEO of Blue Martini Software. "That`s why we`ve intensified our focus this quarter on delivering deeper industry functionality for the manufacturing and retail markets, to complement existing vertical functionality offered by other ERP and CRM players. Last week, we strengthened our commitment to manufacturing and retail with the acquisition of the Cybrant Corporation, combining the power of Blue Martini`s multi-channel CRM suite and Cybrant`s interactive-selling suite to better serve the manufacturing and retail markets."
Blue Martini Software`s first quarter-financial results will be discussed Thursday, April 25, 2002 at 4:30pm ET/1:30pm PT and available by calling (703) 871-3077 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 through May 9 at the Company`s website or by dialing 703-925-2435, passcode # 5931641.
About Blue Martini Software
Blue Martini Software provides enterprise applications for marketing and selling profitably across all channels, including websites, wireless devices, email and physical stores. Blue Martini applications lower costs and increase revenue by automating business-to-business and consumer processes such as content and catalog management, marketing, sales, channel enablement and customer service. Blue Martini Software serves global leaders in retail, manufacturing and consumer goods. 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 may be the trademarks of their respective owners.
This news release regarding first-quarter condensed consolidated financial results 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, delay or failure in integrating the Cybrant Corporation or its product line; customization, deployment and/or operational delays or errors associated with Blue Martini Software`s existing or newly acquired applications or those of third parties; and increased headcount and other expenses, liabilities, and obligations acquired by Blue Martini as a result of the acquisition; and the other risk factors described in Blue Martini Software`s filings with the Securities and Exchange Commission ("SEC"), including its filing on Form 10-K for the year ended December 31, 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
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