Marimba Announces Preliminary Third-Quarter Financial Results Tuesday 9 October 2001 PDF Print 8 October 2001 - Marimba, Inc. (Nasdaq: MRBA), a leading provider of systems management solutions built for e-business, today announced preliminary expectations of financial results for its third quarter ended 30 September 2001. For the third quarter, total revenues are expected to be approximately $10.0 million. Pro forma diluted net loss per share is expected to be in the range of 10 to 12 cents, excluding a non-cash charge of $572,000 for deferred stock compensation. Including the non-cash charge, diluted net loss per share for the third quarter is expected to be in the range of 13 to 15 cents. "An already weak economy, compounded by the tragic events of September 11 and their aftermath, resulted in the delay of a number of anticipated orders for the quarter," said Rich Wyckoff, Marimba's president and chief executive officer. "Especially impacted was our Northeast region, which has traditionally been one of the company's strongest contributors to revenue. We are managing our expenditures in this difficult business climate, while at the same time maintaining our focus on core product development and sales activities. We plan to reduce our cost structure by an additional $1.0 million for the fourth quarter through a combination of cost-cutting measures, including reducing staffing levels." "Despite lower revenues for the third quarter, we were able to keep our pro forma loss in line with the prior quarter and maintain a strong cash position," said Ken Owyang, Marimba's chief financial officer. "We expect to report cash and investments totaling approximately $61.0 million at the end of the third quarter." The expected financial results for Marimba's third quarter contained in this announcement are preliminary, based on the best 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 third quarter on 22 October 2001 at approximately 1:01 p.m. PT. Marimba also plans to conduct a teleconference on 22 October beginning at 1:45 p.m. PT (4:45 p.m. ET) to discuss its final financial results for the third quarter. Anyone wishing to participate may do so by calling +1 913 981-5507 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 +1 719 457-0820; the passcode is 484994. About Marimba Headquartered in Mountain View, Calif., Marimba, Inc. (Nasdaq: MRBA) provides systems management solutions built for e-business. Marimba's Server Management, Desktop/Mobile Management, and Embedded Management product families allow Global 2000 companies to better manage their IT resources, increase operational efficiency and reduce IT costs. For more information, please call +44 118 949 7060, or visit our Web site at http://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: expected financial results for the third quarter, the general economic climate, delays in customer orders, cost reduction and control measures and the resulting savings in the fourth quarter, maintaining focus on core product development and sales activities, and the value of Marimba's cash and investments at the end of the third quarter. 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 ability of Marimba to close the delayed anticipated orders mentioned above in its fourth quarter or subsequent quarters, 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 existing and planned products, 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 change 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 third quarter are subject to further review of the revenue recognised and expenses incurred in the third 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 involves 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. -ends- Marimba is a registered trademark of Marimba, Inc. in the U.S. and/or certain other countries. Other product, trademark, company or service names mentioned herein are the property of their respective owners. Jenny Holt AxiCom UK Direct: +44 (0)20 8600 4651 Mob: +44 (0)7730 438 762 Email: firstname.lastname@example.org Web: http://www.axicom.com This press release was distributed by ResponseSource Press Release Wire on behalf of AxiCom in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.