Net, software firms post revenues
Onsale is just one of several Internet and software application companies to post strong revenue growth.
Onsale reported first quarter revenues of $40.2 million, up from $12.3 million a year ago. And revenues increased 21.8 percent over the previous quarter. The online auction retailer had 310,000 orders during the quarter, compared with 232,000 the previous quarter.
The company's net loss was $4.5 million, or 24 cents a share, compared with profits of $52,000, or break even, a year ago. But excluding a merchandise-related charge, the company posted a loss yesterday of $2.9 million, or 16 cents a share, in the recent quarter.
RealNetworks, a streaming audio and video software company, reported first quarter net revenues of $12.5 million, up 97 percent from a year ago and up 21 percent from the previous quarter.
The company, meanwhile, posted a net loss of $20 million, or 65 cents a share, compared with a loss of $3.7 million, or 17 cents, a year ago. The bulk of the first quarter loss, however, was attributed to a $17.9 million charge for the acquisition of Vivo Software. And excluding the charge, RealNetworks posted a loss of $2.2 million, or 7 cents a share.
Internet services company USWeb reported first quarter revenues of $13.7 million, up from $495,000 a year ago and a 29 percent increase over the previous quarter. The company posted a loss of $16.4 million, compared with a loss of $5.8 million a year ago. But excluding an acquisition charge, USWeb posted a loss of $3.3 million.
CNET: The Computer Network reported first quarter revenues of $10.7 million, up 69 percent over the year-ago period. The company narrowed its losses to $5.7 million, or 38 cents a share, for the quarter, compared with a loss of $12.9 million, or 97 cents a share, a year ago. Traffic on the company's online sites reached 6.5 million average daily page views during the quarter, up 20 percent compared with the previous quarter. (CNET publishes NEWS.COM.)
Meanwhile, tools maker Borland International reported an increase in revenues to $46.5 million for the first quarter, up from $43.4 million a year ago. The company attributed the increase to revenue growth in its client-server, enterprise, Internet, and intranet products. Borland narrowed its net loss to $13.4 million, or 27 cents a share, for the quarter, compared with a loss of $44.5 million, or 92 cents a share, a year earlier. The net loss for the quarter included an acquisition and restructuring charge of $19.3 million and a $3.8 million tax benefit.
Cadence Design Systems, a software tools and professional services supplier, posted revenues of $270.2 million for the first quarter, up from $187.5 million a year earlier. The company noted that product revenues were up 51 percent over a year ago, while services revenues climbed 55 percent. Cadence reported a loss of $25.5 million, or 12 cents a share, for the quarter, compared with profits of $37.1 million, or 19 cents a share, a year earlier. The first quarter results also included one-time charges of $86 million, largely due to an acquisition.
PeopleSoft, fueled by continued demand for its client-server products, reported first quarter revenues of $277.7 million, up 80.7 percent from a year ago. The company noted that license fee revenue increased 64 percent in the quarter over the previous year, while services revenues jumped 100 percent during the period. Net profits, meanwhile, rose to $33.8 million, or 13 cents a share, for the quarter, up from $17.8 million, or 7 cents a share, in the year ago period.