Blue Martini Software, a provider of enterprise software applications that help companies to understand, target and interact with their customers and partners, today announced financial results for its fourth quarter and year ended December 31, 2000.
For its fourth quarter, Blue Martini Software reported revenues of $27.5 million, an increase of 365 percent as compared to revenues of $5.9 million reported for the same period last year. On a pro forma basis, excluding the impact of amortisation of deferred stock compensation, stock warrants and intangible assets, Blue Martini Software reported for the quarter a pro forma net loss of $5.2 million, or $0.09 per share as compared to a pro forma net loss of $3.2 million, or $0.07 per share for the fourth quarter of 1999.
For the year ended December 31, 2000, Blue Martini Software reported revenues of $74.3 million as compared to revenues of $11.2 million reported for the year ended December 31, 1999. On a pro forma basis, excluding the impact of amortisation of deferred stock compensation, stock warrants and intangible assets, the company reported for the year ended December 31, 2000 a pro forma net loss $29.0 million or $0.54 per share as compared to a pro forma net loss of $7.7 million, or $0.17 per share for the year ended December 31, 1999.
For the fourth quarter, net loss, including amortisation of deferred stock compensation, stock warrants and intangible assets, was $14.7 million, or $0.24 per share, as compared to a net loss of $4.6 million, or $0.19 per share, for the fourth quarter of 1999. For the year ended December 31, 2000, net loss, including amortisation of deferred stock compensation, stock warrants and intangible assets, was $62.1 million, or $1.52 per share, as compared to a net loss of $10.9 million, or $0.47 per share, for the year ended December 31, 1999.
The impact of amortisation of deferred stock compensation and warrants is summarised on pages 5 and 6 of this release. For additional information on Blue Martini Software's reported results, see the website at http://www.bluemartini.com
"We concentrated on three initiatives this quarter, with considerable success," said Monte Zweben, president and CEO, Blue Martini Software. "First we continued to aggressively expand beyond retail, with live customers in manufacturing, financial services, consumer products, telecommunications and technology. Second we continued to build out sales channels and partner relationships, domestically as well as in Europe and Japan. Finally, we responded to customers and to the markets we serve by enhancing our core product and aligning it to more closely map to enterprise lines of business, with clear value propositions and differentiated offerings."
Although the company continues to offer what it believes is the most comprehensive solution in the market for e-business, and continues to invest in product improvements to maintain this leadership, Blue Martini Software's application will be repackaged to map to specific initiatives
within Global 2000 enterprises. This will enable the Blue Martini Software sales force to target several lines of business with clear value propositions. Blue Martini 4.0, which the company expects to ship on target in Q1 2001, will consist of four applications, Blue Martini Commerce, Blue Martini Marketing, Blue Martini Channels and Blue Martini Service.
Acquiring New Customers In Business-to-Business and Vertical Markets
For the quarter, Blue Martini Software signed 20 new customer contracts, bringing the total number of customers to 87 and adding the majority of new customers in strategic vertical markets outside of retail including those that participate in online marketplaces, manufacturing, financial services, consumer packaged goods, technology and service companies.
New business-to-business customers included online chemical industry marketplace Elemica and leading chocolates manufacturer and distributor Barry Callebaut. New customers outside of North America included office equipment manufacturer Océ in the Netherlands and leading UK grocery chain Sainsbury's. Additional representative new customers included sewing machine manufacturer Bernina and S.P. Richards Company, a $1 billion wholly-owned subsidiary of the Genuine Parts Company. The company also received additional follow-on orders from existing
customers including BrightSage, Inc. (formerly EthnicGrocer.com), Harley-Davidson, Oncology Therapeutics Network and Saks Fifth Avenue.
Alliance Members Extend eBusiness Solution, Focus on Deployments Outside of Retail
During the quarter, Blue Martini Software achieved a significant acceleration in the number of systems integrator partner-led deals, especially in Europe. Over the course of the fourth quarter, Blue Martini Software trained over 200 employees of our partners, bringing the total number of our partners' personnel trained on Blue Martini applications to over 700, and the company opened a dedicated training facility in Chicago, augmenting the existing training facility in
Redwood City, California. Among the other alliance highlights for the fourth quarter:
· Cap Gemini Ernst & Young is working to deploy Blue Martini applications at new B-to-B customer Elemica, an online chemical industry portal and marketplace that is under construction by a consortium of 22 of the world's leading chemical industry companies.
· Blue Martini Software signed significant alliance agreements and extended existing relationships in Q4 highlighted by the announcement of our systems integration alliance with Arthur Andersen.
· The company signed a major platform alliance with Hewlett Packard, culminating in the delivery of Blue Martini applications on the HP-UX platform.
· Blue Martini Software signed a development agreement with configuration software vendor Selectica.
· The company entered a reseller and development agreement with content management leader Interwoven to enhance and supplement Blue Martini Software's existing content management capabilities.
· During Q4, Blue Martini Software also acquired the rights to use SGI's source code for the analytical algorithms in its MineSetT suite of data mining and visualisation tools.
About Blue Martini Software
Blue Martini Software provides enterprise software applications that help companies to understand, target and interact with their customers and partners. Companies deploy Blue Martini applications to interact with customers and business partners on the Web, via call centres, in stores, over wireless devices, through e-mail, direct mail and on marketplaces. Business people use Blue Martini applications to manage catalogues, content, transactions, analysis and personalisation. Companies that interact directly with customers build their brands more effectively than those using only traditional media, resulting in increased revenue opportunities across all channels. Blue Martini Software's customers include Oncology Therapeutics Network (OTN), Polaroid Corporation, Systemax, Canadian Tire Corporation, Giant Eagle Grocery, Harley-Davidson, Levi Strauss & Co. and Saks Fifth Avenue. Blue Martini can be reached at 650-356-4000 or http://www.bluemartini.com
Blue Martini Software: Investor Relations Agency:
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Note to editors: "Blue Martini" and "Blue Martini Software" are trademarks of Blue Martini Software, 2600 Campus Drive, San Mateo, CA 94403. Other product and company names may be the trademarks of their respective owners.
This news release regarding fourth quarter and year end financial results includes forward-looking statements that are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those referred to in the forward-looking statements. Such factors include, but are not limited to, quarterly fluctuations in Blue Martini Software's revenues or other operating results, failure by Blue Martini Software to meet financial expectations of analysts and investors, risk as related to market acceptance of Blue Martini Software's product, customisation and deployment delays or errors associated with Blue Martini Software's product, impact of long
sales and implementation cycles for Blue Martini Software's product, satisfaction levels of customers regarding the implementation and performance of Blue Martini Software's product, reliance by Blue Martini Software on a limited number of customers for a majority of revenue, Blue Martini Software's need to maintain and enhance business relationships with systems integrators and other parties, Blue Martini's ability to expand its sales force and engineering group, Blue Martini Software's ability to manage growth, Blue Martini Software's use in its
product of third-party software, activities by Blue Martini Software and others regarding protection of intellectual property, release of competitive products and other actions by competitors, and economic downturns in either domestic or foreign markets. Further details on these risks are set forth in Blue Martini Software's filings with the Securities and Exchange Commission, including its filing on Form 10-Q for the quarter ended September 30, 2000. These filings are available on a website maintained by the Securities and Exchange Commission at http://www.sec.gov Forward-looking statements in this release are generally identified by words such as "expect,'' "anticipate,'' "will," "intend,'' "believe,'' "hope,'' "assume," "estimate,'' "plan,'' and other similar words and expressions. Blue Martini Software does not undertake an obligation to update forward-looking statements.
Cally Finch/Paula Oliver
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Blue Martini Software
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