San Jose, CA February 20, 2003 Supply chain solution provider Agile Software this week reported a lower net loss on roughly steady revenues for its most recent fiscal quarter as the company sought to bring expenses in line with income in a sluggish tech spending environment.
For its 2003 third quarter, ended January 31, the company said it incurred a net loss of $5.7 million under generally accepted accounting principles (GAAP), compared to a loss of $15.1 million for the second quarter of fiscal 2003 and $6.3 million for the third quarter of fiscal 2002.
Total revenues for the latest quarter came in at $17.9 million, compared to $17.5 million for the second quarter of fiscal 2003 and total revenues of $18.0 million for the year-ago period. The latest quarter was the third in a row that the company saw its revenues improve.
Software license revenues slipped in the latest quarter, totaling $7.3 million, against $7.6 million for the previous and $9.9 million for the third quarter of fiscal 2002.
"Despite an extremely challenging climate, Agile continues to meet its objectives," said Jay Fulcher, Agile's chief operating officer, in a statement. Fulcher cited new deals with Playtex and Varian Electronics, as well as add-on business with ESCO, Fujitsu Services, Gateway Computers, Hitachi, Johnson & Johnson's DePuy Medical, LSI Storage Systems and ViaSat.
Agile also closed a large add-on deal when Lucent added the provider's Product Cost Management to its existing implementation of Product Collaboration. "The Lucent deal is particularly interesting because the implementation was completed within 14 weeks of the close of the deal and involved more than 200 of Lucent's strategic suppliers," said Fulcher.
Bryan Stolle, Agile CEO, said that while the economy remains difficult, "Agile continues to make strides to streamline our operations and reduce our costs."
During the past quarter, Agile completed the acquisition of oneREV of Cupertino, Calif., which added an enabling technology that Agile said benefits its customers by speeding the exchange of information between Agile systems and external information sources, including information from supply chain partners, the customers' internally maintained information warehouses or external supplier catalogs.