Commerce One Provides Revised Outlook for First Quarter Performance.Business Editors/High-Tech Writers PLEASANTON, Calif.--(BUSINESS WIRE)--April 2, 2002 Commerce One, Inc. (Nasdaq:CMRC CMRC Canadian Motosport Racing Club CMRC Commerce One Inc. (stock symbol) CMRC Caribbean Marine Research Center CMRC Crime Mapping Research Center CMRC Credit Management Research Centre (UK) ), the Business Internet Company, today provided a revised financial outlook for the first quarter of 2002, which ended March 31. Commerce One expects total revenues of approximately $29 million to $32 million and software license revenues of approximately $8 million. The company expects operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. will be slightly better than previous guidance, falling in the range of $88 to $90 million, excluding amortization of 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. and other one-time charges. "Technology spending remained sluggish during the first quarter, and we continued to experience long sales cycles, but we are encouraged by the interest in the new Commerce One 5.0 suite introduced in January," said Mark Hoffman, chairman 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 Commerce One. "We continue to build out our product suite, while maintaining tight cost controls to ensure Commerce One's leadership in e-commerce solutions as the economy improves." Commerce One will host a brief discussion of the Company's preliminary anticipated results for the first quarter of 2002 with Peter Pervere, senior vice president and CFO See Chief Financial Officer. of Commerce One. The conference call is scheduled for 2:30 p.m. Pacific Standard Time, April 2, 2002. The call may be accessed via a live Web cast at www.commerceone.com/investors and via dial-in at 800 218 9073 (U.S.) or +1 303 262 2140 (International). An audio replay will be available on the Commerce One Web site after the call. Commerce One will host its regularly scheduled teleconference to discuss its financial and operating results for the first quarter of 2002 on Tuesday, April 16, 2002 at 2 p.m. PDT PDT abbr. Pacific Daylight Time PDT Pacific Daylight Time PDT n abbr (US) (= Pacific Daylight Time) → hora de verano del Pacífico PDT . A live Web cast of the teleconference will be available on http://www.commerceone.com/investors. Unless otherwise stated, references to financial results included in this release are provided on a pro-forma basis. Pro-forma operating results exclude expenses related to the amortization of goodwill and other intangible assets Intangible Asset An asset that is not physical in nature. Notes: Examples are things like copyrights, patents, intellectual property, and goodwill. These are the opposite of tangible assets. , stock-based compensation, acquisition related, and restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). costs; all of which are included under generally accepted accounting principle (GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). ) basis. About Commerce One Commerce One (Nasdaq:CMRC) is the Business Internet Company. Through its software, services and global network of interconnected enterprises and e-marketplaces, Commerce One enables organizations to reduce costs and drive productivity by automating business processes between buyers and suppliers. Visit www.commerceone.com for more information. 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. The foregoing paragraphs include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include statements concerning the Company's expected financial results and outlook, the level of customer interest and expected success of our current and future products, the Company's expectations regarding the success of its efforts to maintain and balance its cost structure, and the Company's expectations regarding improvement in general economic conditions. The words "believe," "expect," "will" and similar phrases as they relate to Commerce One are intended to identify such forward-looking statements. Such statements reflect the current views and assumptions of Commerce One, and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. These risks include, but are not limited to, accounting entries and adjustments at the closing of the quarter, unexpected expenses, reduction in demand for software products and services, delays in developing or shipping new versions of our software solutions, the failure of any our solutions to meet user expectations, the extent of customer adoption and utilization of the solutions provided, risks related to general economic conditions, and intense and increasing competition in the market. The information provided in this press release is current as of the date of its publication. Commerce One expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any changes in expectations, or any change in events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or on which those statements are based, unless otherwise required by law. For a discussion of these and other risk factors that could affect Commerce One's business, see "Risk Factors" in Commerce One's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2001 |
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