webMethods Reports Preliminary Fiscal First Quarter Financial Results
July 05 2005 - 5:36PM
PR Newswire (US)
webMethods Reports Preliminary Fiscal First Quarter Financial
Results FAIRFAX, Va., July 5 /PRNewswire-FirstCall/ -- webMethods
Inc. (NASDAQ:WEBM), a leading provider of business integration and
optimization software, today announced preliminary financial
results for its fiscal first quarter ended June 30, 2005.
webMethods expects to report total revenue for its fiscal first
quarter in the range of $47 million to $48 million, compared to
$41.9 million in the prior year period. Total revenue guidance for
the June 2005 quarter, which was given on May 2, 2005, was a range
of $49 million to $52 million. On a GAAP basis, the company expects
to report a net loss of $0.04 to $0.02 per share for the quarter
ended June 30, 2005, compared to a net loss of $0.20 per share in
the prior year period. Excluding certain charges that are described
below in "Non-GAAP Financial Measures," the company expects to
report a pro forma net loss per share of $0.01 to pro forma net
income per share of $0.01 for the June 2005 quarter. These results
are in line with guidance given on May 2, 2005 of a range of a pro
forma net loss per share of $0.01 to pro forma net income per share
of $0.02 after exclusion of amortization of deferred-stock
compensation and warrant charges and amortization of intangible
assets totaling approximately $1.3 million. Important information
regarding these pro forma results is provided below under "Non-GAAP
Financial Measures" and should be read to better understand the
charges excluded in pro forma results and why pro forma information
is presented. "Despite falling short of our original revenue
guidance, we expect that our focus on better expense control will
allow us to meet our earnings guidance for the quarter," said David
Mitchell, president and CEO, webMethods Inc. "As we have previously
expressed, execution in this environment needs to be perfect. While
we performed well during the first quarter, our efforts were not
sufficient to deliver fully on the desired results." Additional
June 2005 Quarterly Financial Highlights: * Cash and marketable
securities as of June 30, 2005 are expected to be in the range of
$143 million to $144 million, as compared to $150.1 million as of
March 31, 2005. * License revenue for the June 2005 quarter is
expected to be in the range of $18.0 million to $18.5 million,
compared to $14.8 million in the prior year period. * International
revenue as a percent of total revenue is expected to be
approximately 36%. Conference Call Information: webMethods will
host a conference call at 5:30 p.m. Eastern Daylight Time today to
discuss the company's preliminary fiscal first quarter financial
results. The conference call will be available via webcast at
http://www.webmethods.com/investors or via dial-in at (800)
946-0713 in North America or (719) 457-2642 outside of North
America. A replay of this call will be available through July 15,
2005 at http://www.webmethods.com/investors or via dial-in at (888)
203-1112 in North America and (719) 457-0820 outside of North
America. The access code is 9154813. Non-GAAP Financial Measures
This press release contains preliminary pro forma operating results
that are not in accordance with GAAP because they exclude certain
non-cash or non- recurring items. Preliminary pro forma results for
the June 2005 quarter are expected to exclude amortization of
warrant charges, amortization of intangible assets and
restructuring charges. Pro forma operating results should not be
considered as a substitute for, or superior to, measures of
financial performance prepared in accordance with GAAP, and may be
different from non-GAAP financial measures used by others.
webMethods' management uses these pro forma operating results in
evaluating the potential impact of certain operating decisions on
projected financial results, in comparisons of the company's
historical results of operations and in comparisons to competitors'
operating results. webMethods includes these pro forma operating
results in this press release because it believes they enhance
comparability of webMethods' results of operations to those of
other enterprise software companies, to pro forma operating results
webMethods historically has reported, to financial guidance
provided by webMethods and to financial models and expectations of
certain investors and securities analysts. About webMethods, Inc.
webMethods (NASDAQ:WEBM) provides business integration software to
integrate, assemble and optimize available IT assets to drive
business process productivity. webMethods delivers an innovative,
enterprise-class business integration platform that incorporates
proven integration technology with next generation capabilities
into one interoperable set of tools that delivers a unique
combination of efficiency, agility and control. webMethods combines
industry leadership with a zealous commitment to customers to
deliver tangible business value to more than 1,300 global
customers. webMethods is headquartered in Fairfax, Va., with
offices throughout the U.S., Europe, Asia Pacific and Japan. More
information about the company can be found at
http://www.webmethods.com/. The webMethods name and logo are
registered trademarks of webMethods, Inc. in the United States and
certain other countries. All other marks mentioned are trademarks
or service marks of their respective companies. This press release
and the conference call announced in it may contain various remarks
about the future expectations, plans and prospects of webMethods
that constitute forward-looking statements for purposes of the safe
harbor provisions of U.S. securities laws. Specific forward-looking
statements relate to future market opportunities for webMethods'
solutions, webMethods' products and services and their performance,
the size and strength of our markets, the size and quality of our
pipeline, expected future financial performance (including total
revenue, license revenue, level of cash and marketable securities,
non-cash or non-recurring charges, expenses, net earnings or loss,
pro forma earnings or loss per share and legal compliance matters
or internal control documentation, remediation and testing),
expected financial metrics, webMethods' future cost savings and
expense levels, the anticipated result of marketing and selling
models and approaches, the anticipated contributions to webMethods'
future financial performance of certain products or geographic
regions of its business, demand for some or all of its products and
the contribution to webMethods' revenue of business partners or
webMethods' products or services. Actual results of webMethods may
differ materially from those indicated by these forward-looking
statements as a result of various risks and uncertainties,
including the impact of economic conditions, geopolitical factors,
seasonal factors, terrorism and related uncertainties in the U.S.
and abroad on the company's customers and prospects and their IT
spending budgets and priorities; impact upon operations of legal
compliance matters or internal controls review, improvement and
remediation; difficulties in achieving or maintaining anticipated
expense levels and controlling major expenses, including costs of
internal controls review, improvement and remediation; variations
in the size and timing of customer orders and demand for software
offered by webMethods; impact of compliance programs and claims for
alleged violations of requirements and duties; impact of
competitive and pricing pressures; impact of changes in management
or staff levels; variations in revenue influenced by software
vendor or systems integrator partners; impact of rapid
technological change; and these and other risks and uncertainties
discussed more fully in webMethods' SEC filings, including those
discussed under the heading "Factors That May Affect Future
Operating Results" in the Business section of webMethods' Form 10-K
for the year ended March 31, 2005, which is on file with the U.S.
Securities and Exchange Commission and may be accessed at
http://www.sec.gov/ or webMethods' investor relations web page at
http://www.webmethods.com/investors/. webMethods disclaims any
obligation to update or correct any forward-looking statements made
herein due to the occurrence of events after the issuance of this
press release. DATASOURCE: webMethods, Inc. CONTACT: Christopher
Martin, Investor Relations, +1-703-460-6609, , or Brenda Hansen,
Media Relations, +1-703-460-5847, , both of webMethods, Inc. Web
site: http://www.webmethods.com/
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