BroadVision barely beats Street
The e-commerce software vendor's first-quarter losses are a bit better than Wall Street thought.
BroadVision lost 12 cents a share, 1 cent better than the analysts' consensus of a 13-cent loss, according to FirstCall.
Revenues for the quarter were $5.3 million, up 30 percent over 1996's last quarter and four times the $1.3 million in revenue booked a year earlier.
Net losses for 1997's first quarter, ended March 31, were $2.5 million, or 12 cents per share, compared with $3.6 million or 18 cents per share in the prior quarter and with $1.7 million, or 9 cents per share, for the comparable 1996 period.
BroadVision closed at 4-5/8, off 1/8 on heavy volume before the earnings report. The stock has traded as high as 10-3/8 since going public last year.
The company's upbeat report will contrast with tomorrow's earnings announcement from Connect (CNKT), which saw its CEO resign earlier this month after the high-end e-commerce firm said it would not meet Wall Street's revenue expectations for the quarter. Connect closed at 1-1/8, off 1/4 today.
During its first quarter, BroadVision shipped new applications in its One-to-One product line and added 23 customers both domestically and internationally, including Internet Shopping Network, Thomas Cook Group, Hewlett-Packard, Hitachi, Bell Atlantic, GTE, France Telecom, and the World Bank.
Among the deployments since the first of the year are Liberty Financial, which has launched three sites built with BroadVision software; US West, for an extranet commerce application; and Japan's DigitalWare.
BroadVision's software is designed for commercial Web sites offering content and sales pitches to specific customers based on their interests and past actions online.
In responses to demand from financial services clients, the company also shipped a Windows NT version of its software.