Commerce One reiterates 4Q sales, loss estimates

Commerce One hoped to put its investors at ease Friday when it said it was still comfortable with analysts' sales and loss estimates in its fourth quarter.

Commerce One (Nasdaq: CMRC) shares closed of $5.69, or 11 percent, to $47.63 ahead of the announcement.

After the bell, the business-to-business e-commerce software provider said it expects to lose 7 cents a share on sales of between $173 million to $177 million.

First Call Corp. consensus expects it to lose 7 cents a share in the quarter.

Company officials said it expects sales in the range of $800 million to $825 million in fiscal 2001.

Commerce One and other e-business software developers such as Ariba (Nasdaq: ARBA) and i2 Technologies (Nasdaq: ITWO) have watched their stocks plummet in recent weeks.

Commerce One topped analysts' estimates in its latest quarter, posting a loss of $14.7 million, or 9 cents a share, on sales of $112.7 million.

Its shares moved up to a 52-week high of $165.50 in March before tumbling to a low of $29 in April.

Twenty-seven of the 28 analysts following the stock maintain either a "buy" or "strong buy" recommendation.