Marimba Announces Third-Quarter 2001 Results Tuesday 23 October 2001 PDF Print $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. 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