Losses Narrow at Agile

Results worse year-on-year, but better quarter-on-quarter, for software company

San Jose, CA  November 22, 2002  Supply chain solution provider Agile Software this week reported a higher loss for its latest fiscal quarter compared to the year-ago period but also saw a quarter-on-quarter improvement in revenues.

Agile reported a loss of $15.1 million for the second quarter of its 2003 fiscal year, ending October 31, more than triple the $4.5 million loss registered in the same period of its 2002 fiscal year. Losses for the first quarter of FY2003 came in at $12.3.

The second quarter loss included a $7.8 million restructuring charge and other one-time items. Pro forma net loss for the latest quarter, excluding those items, was $6.6 million, against $4.5 million for the year-ago period and $9.2 million in the first quarter of 2003.

Total revenues for the latest quarter were $17.5 million, down from $21.2 million for the same period last year but up slightly from the $16.0 million in revenues the software company reported for its 2003 first quarter.

For the latest quarter, software license revenues, considered a key indicator of future income, came in at $7.6 million, compared to $13.1 million for the year-ago period and $6.9 million in the previous quarter.

Agile CEO Bryan Stolle pinned the continued red ink on a weak economy. "Companies remain extremely cautious due to the difficult economic climate, combined with poor visibility into when or how a turn will present itself," Stolle said in a company statement.

In the statement, Agile pointed to new customer wins in the most recent quarter that included CardioNet, GlaxoSmithKline, NEC Infrontia, Saturn Electronics & Engineering and Starsys Research Corp.