Expected quarterly revenue of $12.2 million up 11% over prior quarter
Marimba, Inc., a leading provider of systems management solutions built for
e-business, today announced preliminary expectations of financial results
for its second quarter ended June 30, 2001.
For the second quarter, revenues are expected to be approximately $12.2
million, up 11% from the prior quarter. Pro forma diluted net loss per share
is expected to be in the range of 9 to 11 cents, excluding a non-cash charge
of $527,000 for deferred stock compensation and a restructuring charge of
$789,000 related to its workforce reduction and other cost cutting
initiatives announced in April 2001. Including these charges, diluted net
loss per share for the second quarter is expected to be in the range of 15
to 17 cents.
Commenting on Marimba's second quarter performance, Rich Wyckoff, president
and chief executive officer, said, "We are pleased with our preliminary
revenue results, especially given the difficult global economic environment.
I believe strongly in the growth prospects of the company, and feel we are
well positioned for the future."
The expected financial results for Marimba's second 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 second quarter on July
23, 2001 at approximately 1:00pm PT (4:00pm ET).
Marimba plans to conduct a teleconference on July 23, 2001 beginning at
1:45pm PT (4:45pm ET) to discuss its final financial results for the second
quarter. Anyone wishing to participate may do so by calling +1 913-981-5582
approximately 10 minutes prior to the start of the call. This teleconference
will be Webcast live and archived for one week at
http://www.marimba.com/investor/conference_call.html. In addition, a telephone
replay will be available for one week at +1 719 457 0820, pass code #704905.
In a separate press release issued today, Marimba also announced, "Marimba
Names Rich Wyckoff as President and Chief Executive Officer." See news
release dated 9 July 2001.
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 +44
118 949 7060, or visit our web site at http://www.marimba.com.
This press release contains forward-looking information within the meaning
of Section 27A of the Securities Act of 1933 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: Marimba's expected financial results for the second quarter 2001,
the general economic environment and Marimba's growth prospects and
positioning. 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 desktop/mobile management and server
management product families 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 systems 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 second quarter 2001 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
Marimba is a registered 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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