Continuus Software Announces Preliminary Second Quarter Results.Business Editors/High-Tech Writers IRVINE, Calif.--(BUSINESS WIRE)--July 10, 2000 Continuus Software Corporation (Nasdaq:CNSW), the leading provider of eAsset Management solutions, today announced preliminary financial results for the second quarter ended June 30, 2000. The company expects total revenues of approximately $9.0 million, compared to $8.8 million in the year earlier period. The preliminary estimated 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. for the quarter is expected to be $3.8 million to $4.0 million, or a loss of $0.36 to $0.38 per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share, compared to consensus analysts' estimates for the quarter of a loss of $0.10 per diluted share. Both earnings figures exclude amortization of goodwill and compensation expense related to stock options. "Although we traditionally close a high percentage of our license revenue transactions in the last days of the quarter, we are experiencing increasing delays in the sales cycle, making it more difficult to predict the timing of revenue," said John Wark John Wark (born Glasgow, 4 August 1957) was a Scottish footballer who grew up in the Ipswich Town side of the 1970s and went on to become a player synonymous with the club. He was also part of the all conquering Liverpool side of the mid 1980s. , 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. . "We believe this is caused by rapid evolution in the internet-driven segments of our market towards more tactically oriented o·ri·ent n. 1. Orient The countries of Asia, especially of eastern Asia. 2. a. The luster characteristic of a pearl of high quality. b. A pearl having exceptional luster. 3. purchasing, which is changing deal size, price sensitivity, and competitor mix. We are adjusting our sales and marketing efforts to respond to these changes in market conditions; however, we expect this market transition to continue to influence our results for the remainder of this year. Overall, customer demand for eAsset Management solutions remains strong and we remain confident in our ability to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. this demand going forward." Continuus has scheduled a conference call today at 6:00 a.m. Pacific Daylight Time to review preliminary results. The call may be accessed by dialing 800/621-5346. About Continuus Continuus Software Corporation is a leading provider of eAsset Management solutions. eAsset Management enables organizations to develop, enhance, deploy and more effectively manage their teams building Internet and enterprise software and content-based systems. Continuus products enable organizations to improve the quality of their eAssets and to reduce the time it takes to deliver Internet and software applications. Continuus offers the eAsset Management Platform, consisting of the Continuus WebSynergy Suite, Continuus Change Management Suite, Continuus ChangeSynergy, and Continuus KnowledgeSynergy designed to support the collaborative development, management, approval and deployment of the most complex and demanding software, Internet applications and web content. The company also offers Continuus eAsset Professional Services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. that include consulting, training and maintenance services to facilitate the successful implementation of the eAsset Management Platform. Continuus has licensed its products to over 500 customers, 1,000 sites and over 40,000 users worldwide. For more information on Continuus: in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , call 949.830.8022; in Canada, call 613.751.4499; in the United Kingdom, call 44.1344.788.100; in Germany, call 49.89.54.8880; in France, call 33.1.69.59.1616; in Australia call 61.2.9904.6033, or visit its web site at www.continuus.com. This press release contains certain 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. that are based largely on Continuus Software's current expectations and are subject to a number of risks and uncertainties. Actual results and events could differ significantly from those discussed in the forward-looking statements. These risks and uncertainties include those associated with fluctuation in our revenue and financial performance, the development of new products and technologies, including Continuus eAsset Management solutions, the emerging markets for our products, and intense competition in our markets, as well as other risks and uncertainties described from time to time in our filings with the Securities and Exchange Commission, including our most recent 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. and our most recent Quarterly Report on Form 10-Q Form 10-Q See 10-Q. . |
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