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Commerce One forecasts big drop in revenue

Commerce One warned on Wednesday that it expects to report $850,000 in license revenue and $4.6 million in service revenue for the third quarter, ended Sept. 30. The struggling software company, based in Pleasanton, Calif., was expected to report total revenue of $7 million and a loss of 41 cents per share, according to a single estimate an analyst submitted to First Call. The company reported $26.4 million in total revenue for the same period last year, $8.5 million of which was from licenses and $17.9 million from services.

The company plans to further discuss its third-quarter results Oct. 30. In the meantime, Commerce One said it's planning a two-week furlough for some "noncritical" U.S.-based employees to cut costs. The company, a one-time darling of the boom years, makes software for helping companies purchase business supplies and negotiating contracts with suppliers.