Skip navigation
Skip navigation
You are using an outdated browser. Please upgrade your browser.

Total Revenues Increase 72 Percent Year over Year to $10.6 Million


Marimba, Inc., a leading provider of Internet infrastructure management
solutions, today announced financial results for the first quarter ended
March 31, 2000.

First-quarter revenues reached $10.6 million, up 72 percent from $6.1
million for the same period last year. Net loss was $659,000, or a
diluted net loss of 3 cents per share, down from a net loss of $1.6
million, or a diluted net loss of 13 cents per share, for the same
quarter a year ago. Excluding $336,000 of amortisation expense for
deferred stock compensation, diluted net loss for the first quarter of
2000 would have been 1 cent per share. Excluding $178,000 of stock
compensation-related expense for the same period a year ago, diluted net
loss would have been 12 cents.

"We once again turned in a solid performance during the quarter," said
Kim Polese, president and chief executive officer. "The demand for our
Castanet product line continued strongly, as evidenced by our surpassing
the 10 million end-user mark during the quarter. We also booked our
largest license agreement in the history of the company."

During the quarter, Marimba also released Castanet 4.5, which received a
rating of 'excellent' for its performance by InfoWorld magazine. The
newest version of Castanet provides Windows 2000 support, powerful new
application installation policies and self-repair options to automate
and simplify the management of applications across the extended
enterprise.

"Our release of Timbale for Server Management, the first product in the
new Timbale product line, successfully extends our Internet
infrastructure management product offerings to the rapidly growing
back-end server infrastructure that is fuelling Web-based computing and
e-commerce. Overall, we’re pleased with the state of the business and
the outlook for sustained growth and continued industry leadership,"
Polese said.

First-quarter license revenues were $8.1 million, up 79 percent from
$4.5 million a year ago. Service revenues rose to $2.5 million, up 55
percent from $1.6 million for the same quarter last year.

The company also announced that in October 2000 Fred Gerson, chief
financial officer, will resign in order to pursue personal interests and
spend more time with his family. Succeeding Gerson will be Ken Owyang,
Marimba’s vice president of finance and corporate controller, who joined
the company in 1997. "Fred has made substantial contributions to
Marimba," said Polese. "He was instrumental in the planning and
execution of our business model and the completion of our IPO last year.
In addition, he and Ken have worked closely together to create
professional financial and accounting systems and controls that have
supported our growth. We look forward to his continuing contributions
over the next several months, and wish him well in his future
endeavours," she added.

Quarterly Highlights

Marimba’s business highlights during the first quarter of 2000 included
the following:

- Release of Timbale for Server Management, first product in the new
Timbale server management product line, designed to provide enterprises,
ASPs and Internet hosting companies with precise control over the
distribution of rapidly changing content across widely distributed
servers

- Signing of OEM license agreement with Documentum for the integration
of Timbale for Server Management into Documentum’s recently announced 4i
eBusiness Edition content management solution

- Signing of the largest license agreement in the history of the company

- New customers, including HealthSouth, InterTrust, MetLife and
Stamps.com, and new service provider deals, such as ASP deals with
LogicTier and OneNetPlus.com, and an ISP hosting deal with NaviPath;
repeat customers, such as Bear Stearns, Bell Atlantic, DLJ Securities,
Ecast, Merinta (subsidiary of Boundless Corporation), Tibco Finance, a
Reuters company, and Vicinity

- Surpassing of the 10-million-end-user mark for software services
delivered over the Internet via the Castanet management infrastructure,
demonstrating that Castanet has become an essential element in managing
some of the world’s largest e-business implementations

- Further penetration of international markets -- reaching 12 percent of
total revenues -- including contributions from Asia, Latin America and
Europe

- Continued balance sheet strength, with $76.8 million in cash and
investments and total assets of $91.6 million at March 31, 2000.

About Marimba

Marimba is a leading provider of Internet infrastructure management
solutions, enabling companies to leverage the Internet to deliver more
powerful and cost-effective applications and services to their
customers, employees and business partners. Marimba’s Castanet product
family provides an efficient and reliable infrastructure by which
enterprises can distribute, update and manage applications and content
over corporate intranets, extranets and the Internet. Marimba’s Timbale
product family addresses the unique management challenges inherent in
server-based computing, including content replication and precise
deployment control across heterogeneous server platforms. Marimba is
headquartered in Mountain View, California, and can be reached at +44
1344 397224, info@marimba.com, or at its Web site at
http://www.marimba.com

This press release contains forward-looking statements regarding future
events or the future performance of Marimba that involve risks and
uncertainties. Such forward-looking statements include, among others,
statements regarding Marimba’s outlook for sustained growth and
continued industry leadership, the expected continued demand for
Marimba’s Castanet product, and expectations regarding the potential
demand for Marimba’s new Timbale product. Marimba’s actual results could
differ materially from the results anticipated in these forward-looking
statements. Factors which could adversely impact Marimba’s performance
include, among others, fluctuations in customer demand, challenges
associated with growing the company, our need to retain key personnel,
our dependence on the success of our Castanet product family, the level
of market acceptance of Timbale, our ongoing patent litigation with
Novadigm, Inc., competition from other vendors, our need to increase
third-party distribution relationships, and a variety of other factors,
including those described from time to time in Marimba’s filings with
the Securities and Exchange Commission. 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. Marimba assumes no obligation to
update the forward-looking information contained in this press release.

-ends-

Marimba and Castanet are registered trademarks and Timbale is a
trademark of Marimba, Inc. in the U.S. and/or other countries. All other
product, trademark, company, or service names mentioned herein are the
property of their respective owners.

Matt Campbell

AxiCom, Cambridge House,

Cambridge Grove, London,

W6 0LE, GB

Tel: +44 20 8600 4632

Fax: +44 20 8600 4620

Mobile: +44 7713 404 569

email: matthewc@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.