Kurt Peters , Senior Executive Editor
SAN MATEO, Calif. , (04/20/2004)--Blue Martini Software, Inc. (NASDAQ: BLUE) today reported financial results for the first quarter of 2004. License revenues for the first quarter of 2004 were $3.4 million, an increase from $1.8 million for the first quarter of 2003. Total revenues for the first quarter of 2004 were $8.9 million, compared to $7.7 million for the first quarter of 2003.
Blue Martini Software reported net loss for the first quarter of 2004 of $3.3 million, or $0.28 per share, an improvement over 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 $41.8 million or $3.50 per share outstanding at March 31, 2004. The decrease in cash balances of $4.4 million in the first quarter was an improvement over the decrease of $4.9 million in the year-ago quarter.
In the first quarter of 2004, Blue Martini added four new customers - Wynn Resorts, Mizuno, Royal Doulton and Louis Vuitton - and signed additional installed-base license transactions. Blue Martini also had a number of customer go-lives, including six divisions of Masco Corporation. "I am pleased with our year-over-year and sequential license revenue growth," said Monte Zweben, Chairman and CEO, Blue Martini Software. "Customers are responding positively to our advanced sales applications, such as clienteling. Blue Martini led the industry with a new approach to clienteling, and has already secured four major customers, two of which have gone live."
Blue Martini Software`s first-quarter financial results will be discussed Tuesday, April 20, 2004 at 4:30 pm ET (1:30 pm PT) and available by calling (303) 262-2190 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 call will be available via telephone through May 4, 2004 by dialing (303) 590-3000, passcode #576168. A replay of the webcast will be available for at least three months at the investor relations section at www.bluemartini.com.
About Blue Martini Software:
Blue Martini Software is a leading provider of sales optimization systems. Our software proactively guides sales people, partners, and customers through sales interactions, helping them to sell more. Over 160 companies worldwide including Carrefour, DuPont, Harley Davidson, Kohl`s, Mitsubishi, Panasonic, Saks Fifth Avenue, and Sprint have adopted our sales optimization systems to sell more effectively. Blue Martini Software is headquartered in San Mateo, California and 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 first-quarter 2004 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, licensing, and deployment of software generally, including potential delays and technical difficulties; competition and technological changes and developments; financial and other impacts of staffing reductions and other cost control measures; and economic, political and other uncertainties. 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.
Blue Martini Software
Financial Relations Board