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Brio Revenue Up 53% but Sqribe Hits Bottom Line.

Brio Technology Inc posted revenues up 53% at $30.7m for the second quarter of fiscal 2000, compared to $20.1m last year, but charges from its acquisition of Sqribe Technologies Inc and legal settlement with Business Objects SA continued to drag the company's bottom line down and it posted a net loss of $17.5m, compared to a net income of $387,000 last year. Excluding the non-recurring operating expenses of $20.2m, the business intelligence software vendor's net income for the quarter was $2.8m. The net loss per share, including the charges, was $0.66.

Brio's president and CEO, Yorgen Edholm, said that the company was now in a position to put the Sqribe acquisition behind it. The software and technology that Brio acquired when it bought Sqribe in February has been remodeled and integrated into the Brio product line, Edholm said. The portal software had been particularly vital for the Brio ONE product, he explained. He claimed that Brio was growing more rapidly than its BI rivals, such as Cognos and Business Objects.

The company scored important deals with Hewlett-Packard, Andersen Consulting, AT&T and BellSouth among others. However, Jorgen highlighted the deals with e-commerce companies such as Priceline.com and Webvan that Brio cut as particularly important going forward. "What is unique about an e-business, as opposed to a bricks and mortar business," he said, "is that they can collect more information about their customers." Edholm claimed that would be an enormous opportunity for business intelligence in the sector.

Although it will not have direct affect on revenues, Edholm said that there had been "much cheering in the halls" about PeopleSoft Inc's decision to drop Actuate Corp's reporting tool in favor of Brio Report 5.1. The CEO said that the endorsement had allowed Brio sell other product onto PeopleSoft customers. "It was PeopleSoft that put Actuate on the map a couple of years ago when they picked Actuate as their standard reporting tool, its nice to know that they've finally seen the light."

Edholm said that the Brio had briefed a sigh of relief to put the Business Objects patent case behind. However, Brio will be making payments related to the action for the next nine quarters.
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Publication:Computergram International
Geographic Code:1USA
Date:Oct 21, 1999
Words:373
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