Skip navigation





$10.0 Million in Total Revenues; Pro Forma Diluted Net Loss of 11 Cents Per
Share; $61.4 Million in Cash and Total Investments



22 October 2001 - Marimba, Inc. (Nasdaq:MRBA), a leading provider of
systems-management solutions built for e-business, today announced its
financial results for the third quarter ended 30 September 2001. These
final results are consistent with the preliminary results announced by the
company on 8 October 2001.



Third-quarter 2001 revenues were $10.0 million, compared with $12.2 million
for the second quarter of 2001 and with $10.1 million for the same quarter
last year. Pro forma net loss for the third quarter of 2001 was $2.7
million, or a diluted net loss per share of 11 cents, excluding $572,000 of
amortisation expense for deferred stock compensation. Including this
non-cash charge, net loss for the third quarter of 2001 was $3.3 million, or
a diluted net loss per share of 14 cents. This compared with a net loss of
$3.7 million, or 16 cents per diluted share, sequentially and with a net
loss of $8.0 million, or 34 cents per diluted share, for the same quarter a
year ago. At 30 September 2001, the company's cash and total investments
were $61.4 million.



"Despite a difficult economic climate, we made progress on our operational
goals," said Rich Wyckoff, Marimba's president and chief executive officer.
"We had a strong contribution from new customers, and we managed our costs,
expenses and cash efficiently. As we stated in our announcement of
preliminary results on 8 October, we expect to reduce our costs and expenses
for the fourth quarter by an additional $1.0 million."



Third-Quarter 2001 Highlights


* New customer wins across multiple industry segments-including CIGNA
Corporation, Dynegy, Source Medical, State of Washington Department of
Health, VeriSign, and Business Objects.


* Repeat customer wins, including Cap Gemini Ernst & Young, H&R Block,
Healthsouth, and Medtronic.


* License agreements for Embedded Management products with three new
customers.


* Alliance with Mercury Interactive Corporation (Nasdaq:MERQ) for the
integration of Mercury application performance management products with
Marimba change management products to automate data center management and
lower IT administration costs.


* Pro forma operating expenses reduced by 13 percent from the second quarter
2001.


* Continued strong balance sheet, with $61.4 million in cash and total
investments, with no assignments of accounts receivable during the third
quarter.


* Sequential decrease in DSOs to 56 days from 81 days.



Marimba scheduled a conference call yesterday to discuss its financial
results for the third quarter 2001. This teleconference will be 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 efficiency and reduce costs.


For more information, please call +44
118 949 7060, or visit our website at http://www.marimba.com




This announcement contains forward-looking statements 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 additional cost and expense reductions for the fourth
quarter of 2001 and the integration of Marimba's change management products
with Mercury Interactive's application performance management products. 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 and expenses at expected levels
against uncertain revenue expectations, unanticipated costs and expenses
that Marimba may need to incur in the fourth quarter of 2001, the technical
challenges Marimba may face in integrating its change management products
with Mercury Interactive's application performance management products, and
general economic, technological and market conditions. Actual results may
differ materially from the results anticipated by these forward-looking
statements due to the factors listed above and other factors. 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.




-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: jenny.holt@axicom.com
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.