Marimba, Inc., a leading provider of systems management solutions built for
e-business, today announced preliminary expectations of financial results
for its first quarter ended March 31, 2001.
For the first quarter, revenues are expected to be approximately $11.0
million. Diluted net loss per share is expected to be in the range of 17 to
19 cents, excluding a non-cash charge of $592,000 for deferred stock
compensation. Including the non-cash charge, diluted net loss per share for
the first quarter is expected to be in the range of 19 to 21 cents.
"Like many other companies in the software industry, we are experiencing the
impact of the general economic slowdown, primarily through delays in IT
purchases and lengthening sales cycles," said John Olsen, Marimba's
president and chief executive officer. "We are taking steps to reduce our
expenses to bring our business plans in line with today's challenging
economic environment. However, we continue to believe in the long-term
growth prospects of the systems management market, and we plan to maintain
our new product development momentum to capitalise on the eventual market
On April 2, 2001, Marimba announced a new family of performance management
software products designed to monitor the performance of online applications
and services. In addition, the company announced that it has modularised and
enhanced its existing Castanet and Timbale technologies.
The expected financial results for Marimba's first quarter contained in this
announcement are preliminary, based on the information currently available
to Marimba, and subject to the closing of its financial books and customary
quarterly review procedures with its independent auditors. Marimba plans to
announce its final financial results for the first quarter on April 19, 2001
at approximately 1:00pm PT.
Marimba plans to conduct a teleconference on April 19 beginning at 1:45pm PT
(4:45pm ET) to discuss its final financial results for the first quarter.
Anyone wishing to participate may do so by calling 913-981-4900
approximately 10 minutes prior to the start of the call. This teleconference
will be Webcast live and archived for one week at
http://marimba.com/investor/conference_call.html. In addition, a telephone
replay will be available for one week at 719-457-0820, code #767987.
Headquartered in Mountain View, Calif., Marimba, Inc. (Nasdaq: MRBA)
provides systems management solutions built for e-business. From change
management to performance management software, Marimba's extensive Internet
expertise allows Global 2000 companies to better manage their resources,
increase efficiency and reduce costs. For more information, please call, or
visit our Web site at www.marimba.com.
This announcement contains forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934 and Section 21E of the
Securities Exchange Act of 1934, and is subject to the safe harbors created
by these sections. These forward-looking statements include statements
regarding: the general economic slowdown, delays in IT purchases,
lengthening sales cycles, cost reduction measures to bring Marimba's product
plans into line with the economic environment, the long-term growth
prospects of the systems management market, maintaining the momentum of
Marimba's new product development plans and the eventual market recovery.
The results expected by the forward-looking statements in this announcement
are subject to a number of risks and uncertainties, including: the ability
of Marimba to effectively manage its costs against uncertain revenue
expectations, the potential for a decrease in net revenue which may be
caused by delays in the timing of sales and the delivery of products or
services, fluctuations in customer demand, challenges associated with
growing the company, Marimba's need to retain key personnel, Marimba's
dependence on the success of its Castanet product family and increasing
market acceptance of its Timbale product family and its planned performance
management product family, competition from other vendors, Marimba's need to
increase third-party distribution and other reseller relationships, the
operational, technical and strategic challenges Marimba faces in developing
new products (which may affect its ability to release new products on
schedule and the degree to which the products are accepted by customers),
and general economic, technological and market conditions, which could
affect the level of demand for Internet infrastructure management solutions
in general and Marimba's products in particular. Actual results may differ
materially from the results anticipated by these forward-looking statements
due to the factors listed above and other factors. The financial results
indicated in this announcement are preliminary estimates only. The final
financial results that will be reported by Marimba for the first fiscal
quarter are subject to further review of the revenue recognised and expenses
incurred in the quarter for consistency with Marimba's accounting policies
and GAAP. These final financial results may not fall within the ranges
indicated above and could differ materially. The matters discussed in this
announcement also involve risks and uncertainties described from time to
time in Marimba's filings with the Securities and Exchange Commission (SEC).
In particular, see the risk factors described in Marimba's most recently
filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q, each as
submitted to the SEC and as may be updated or amended with future filings or
submissions. Marimba undertakes no obligation to release publicly any
updates or revisions to any forward-looking statements contained in this
announcement that may reflect events or circumstances occurring after the
date of this announcement.
Marimba and Castanet are registered trademarks, and Timbale is a trademark,
of Marimba, Inc. in the U.S. and/or certain other countries. All other
product, trademark, company or service names mentioned herein are the
property of their respective owners.
Direct: +44 (0)20 8600 4659
Cambridge House, Cambridge Grove, London W6 0LE
T: +44 (0)20 8600 4600 F: +44 (0)20 8600 4620
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