Clarus Corporation Announces Record Second Quarter Results.Business Editors ATLANTA--(BUSINESS WIRE)--July 26, 2000 Revenues Increase 320% Over Prior Year Results; Beat Analysts' Expectations by $.07 Clarus Clarus (Greek Klaros) in the territory of Colophon in the Ionian coast of Asia Minor was a much-revered, much-famed cult center described by Pausanias (vii. 3, 1). Corporation (Nasdaq: CLRS CLRS Center for Labor Research and Studies CLRS Central Launch and Recovery Section CLRS Claims Legal Research System ), a leading provider of business-to-business  This article or section needs copy editing for grammar, style, cohesion, tone and/or spelling.You can assist by [ editing it] now. (B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business ) e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. solutions, announced record results for the quarter ended June June: see month. 30, 2000. Clarus reported revenues of $10.1 million for the second quarter, a 320 percent improvement over pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma e-commerce results from the second quarter of 1999, and a 44 percent increase over first quarter revenues of $7.0 million. Revenues from software license fees for the quarter ended June 30, 2000 were $7.8 million, or 78 percent of total revenues, up 287 percent as compared to the second quarter of 1999. Revenues from services for the current quarter were $2.2 million, or 22 percent of total revenues, a 479 percent increase over second quarter results from the prior year. Net loss for the quarter excluding non-cash charges Non-Cash Charge A charge off, made by a company against earnings, that does not require an initial outlay of cash. Notes: Non-cash charges are typically against the depreciation, amortization, and depletion accounts on a company's balance sheet. was $5.2 million, or a loss of $.36 per share, better than analyst expectations of an operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of $.43 per share, as reported by First Call. "We are extremely excited about Clarus's strong execution against our business plan during the second quarter, as well as about our Q2 operating results, which significantly beat analyst expectations. The growing demand in the global B2B e-commerce (Business to Business Electronic-COMMERCE) Refers to one business selling to another business via the Web. See e-commerce. market for all our products, particularly for our newly-released award-winning Adj. 1. award-winning - having received awards; "this award-winning bridge spans a distance of five miles" Clarus eMarket(TM) trading exchange, has fueled our strong revenue growth and increased visibility into future earnings, with a 50% increase in off balance sheet backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. ," said Steve Jeffery, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Clarus. "In the second quarter, we had several significant accomplishments driven by key investments, including the acquisition of technology and customers, the development of leading-edge e-commerce applications and infrastructure expansion with the hiring of several impact players," added Jeffery. "We plan to leverage these investments to accelerate our growth in the coming quarters." Second Quarter Highlights Clarus' significant second quarter achievements included the following: - Product Execution - Clarus eMarket(TM) shipped. Written specifically for the Microsoft Windows See Windows. (operating system) Microsoft Windows - Microsoft's proprietary window system and user interface software released in 1985 to run on top of MS-DOS. Widely criticised for being too slow (hence "Windoze", "Microsloth Windows") on the machines available then. DNA DNA: see nucleic acid. DNA or deoxyribonucleic acid One of two types of nucleic acid (the other is RNA); a complex organic compound found in all living cells and many viruses. It is the chemical substance of genes. 2000 and Commerce Server 2000 architecture, Clarus eMarket takes full advantage of the latest Microsoft capabilities, delivering scalability, reliability and speed-to-market advantages to our eMarket customers; - Clarus(TM)eProcurement 5.1 shipped in the second quarter, providing full global capabilities including multi-currency, tax and lingual lingual /lin·gual/ (ling´gwal) 1. pertaining to or near the tongue. 2. in dental anatomy, facing the tongue or oral cavity. lin·gual adj. 1. support in eight languages including U.S. English, Portuguese, Spanish Spanish, river, c.150 mi (240 km) long, issuing from Spanish Lake, S Ont., Canada, NW of Sudbury, and flowing generally S through Biskotasi and Agnew lakes to Lake Huron opposite Manitoulin island. There are several hydroelectric stations on the river. , Italian, German, Norwegian Norwegian associated in some way with Norway. Norwegian buhund, Norwegian sheepdog a medium-sized (26-40 lb), spitz-type dog with a short, dense coat in wheaten, black, red or sable, sometimes with black markings on the face, ears , UK English and Korean; - Launched the ClarusNet(TM) trading portal, offering a variety of open interoperable The ability for one system to communicate or work with another. See interoperability. trading services to power any B2B trading platform including, but not limited to, the Clarus eMarket and Clarus eProcurement solutions; - Launched ClarusAuctions(TM) as an integrated dynamic pricing offering as a part of ClarusNet. - Growth - Added 135 new customers during the quarter, bringing the total customer count to 174; - Acquired iSold.com, adding auctioning and dynamic pricing capabilities to the ClarusNet suite of trading services; - Acquired Redeo Technologies, a provider of global settlement, netting and reconciliation services, another key addition to the ClarusNet trading services; - Increased number of employees to 340. - Channels - Expanded global leveraged sales channels through the addition of six new strategic partners, including application service providers, systems integrators An individual or organization that builds systems from a variety of diverse components. With increasing complexity of technology, more customers want complete solutions to information problems, requiring hardware, software and networking expertise in a multivendor environment. , and technology partners. - Global - Dramatically accelerated international expansion, growing to 75 Clarus EMEA (Europe, Middle East, Africa) Refers to that region of the world. For example, one might see products packaged differently for the UK, EMEA and Asia Pacific markets. employees; - Generated 20% of total second quarter license fee revenue from international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. ; - Added reseller An organization that sells hardware and software to the general public. Resellers purchase products from software publishers and hardware manufacturers. Softworx for South African market; - Powered the first B2B trading exchange in Ireland, iCommerce. - Market Awareness/Recognition - Clarus eMarket is named Microsoft's Worldwide eCommerce Solution of the Year; - Clarus hosted its eC Leadership Conference, one of the most influential e-commerce events of the year. [pilcrow (paragraph sign)] Along with co-sponsors Microsoft Corp. and Perot Systems Perot Systems Corporation NYSE: PER is an information technology services provider based in Plano, Texas. Peter Altabef has served as president, chairman, and chief executive officer since 2004. Corporation, Clarus hosted over 600 customers, prospects, partners and industry experts from around the world. THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. WITHIN THE MEANING OF SECTION 27A OF THE SECURITIES ACT OF 1933 AND SECTION 21E OF THE EXCHANGE ACT. ACTUAL RESULTS COULD DIFFER MATERIALLY FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS AS A RESULT OF CERTAIN RISKS INCLUDING THAT THE BUSINESS OR PROSPECTS EXPECTED BY THE COMPANIES AS A RESULT OF THE ANNOUNCEMENT MAY NOT OCCUR. FORWARD-LOOKING STATEMENTS CONTAINED IN THIS PRESS RELEASE ARE ALSO SUBJECT TO OTHER RISKS AND UNCERTAINTIES, INCLUDING THOSE DISCUSSED IN THE REGISTRATION STATEMENT ON FORM S-1. Clarus, ClarusNet and Clarus eMarket are trademarks of Clarus. Throughout this release, software and hardware products are mentioned by name. In most, if not all, cases, these product names are claimed as trademarks by the companies that manufacture the products. It is not our intention to claim these names or trademarks as our own. --tables to follow--
CLARUS CORPORATION
Selected Operating Data
(in thousands, except per share data)
(unaudited)
Three months ended Six months ended
June 30 June 30
------------------ -------------------
2000 1999 2000 1999
(Pro Forma) (Pro Forma)
REVENUES:
License fees $ 7,845 $ 2,025 $ 13,641 $ 3,595
Services fees 2,240 387 3,450 503
------------------- --------------------
TOTAL REVENUES 10,085 2,412 17,091 4,098
COST OF REVENUES:
License fees 59 1 98 12
Services fees 2,527 427 4,099 789
-------------------- --------------------
TOTAL COST OF REVENUES 2,586 428 4,197 801
OPERATING EXPENSES: (1)
Research and development 5,252 1,301 8,336 2,377
Sales and marketing 8,634 2,184 15,097 3,975
General and administrative 2,369 733 4,995 1,454
-------------------- --------------------
TOTAL OPERATING EXPENSES,
EXCLUDING NONCASH
CHARGES (2) 16,255 4,218 28,428 7,806
-------------------- --------------------
Operating loss before
noncash charges (1) $ (8,756) $ (2,234) $ (15,534) $ (4,509)
Interest income, (net) 3,518 86 4,330 177
-------------------- -------------------
Loss before noncash charges
and gain on
sale of assets (1) $ (5,238) $ (2,148) $ (11,204) $ (4,332)
==================== ====================
Weighted average
shares outstanding 14,538 10,989 13,392 10,968
==================== ====================
Loss per share before
noncash charges and gain
on sale of assets $ (0.36) $ (0.20) $ (0.84) $ (0.39)
==================== ====================
(1) Financial data included above is derived from the Company's
preliminary results for the period ended June 30, 2000. These
preliminary results exclude the effects of the purchase price
allocation and the expected write-off for in-process research
and development related to the two acquisitions completed by
the Company during the second quarter of 2000.
(2) Noncash charges are defined as depreciation expense,
amortization expense, and noncash stock-based research and
development, sales and marketing, and general and
administrative expenses.
The Company's Pro Forma Statement of Operations for the three
months and six months ended June 30, 1999 excludes the operating
results of its ERP business, which was sold in October 1999. The
inclusion of the ERP business in the statement of operations would
have shown the following results:
Three months ended Six months ended
June 30, 1999 June 30, 1999
Total revenues $11,279 $22,680
Cost of revenues 4,625 9,321
Operating expenses 8,410 16,508
------------------- ------------------
Operating loss (1,756) (3,149)
Interest income, net 87 177
------------------- ------------------
Net loss (1,669) (2,972)
=================== ==================
CLARUS CORPORATION
SELECTED BALANCE SHEET ITEMS
(in thousands)
(unaudited)
June 30, December 31,
2000 1999
------------------- -------------------
Cash and marketable
securities $207,324 $14,127
Accounts receivable, net 16,296 10,389
Long-term investments 6,217 1,168
Deferred revenue 4,564 3,374
Debt 5,007 6,046
Stockholders' equity 297,861 32,615
|
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion