Commerce One tops 3Q forecasts, sees faster profits

2 min read

Commerce One (Nasdaq: CMRC) lost less than analysts predicted in the third quarter and said it expects to break into the black two quarters earlier than expected.

After market close Thursday, the vendor of technology for online business-to-business marketplaces reported a third quarter loss of $14.7 million, or 9 cents per share, excluding special charges. First Call's survey of 30 analysts predicted a loss of a dozen cents per share for the quarter ended Sept. 30.

Also Thursday, Commerce One moved up its profitability timetable. The company, which in July said it expected to become profitable in the fourth quarter of next year, now sees profits in the second quarter of 2001.

Shares of Commerce One rose to 69.5625 in afterhours activity on the Island electronic communications network, immediately following the release of quarterly results. Commerce One stock rose 4.688 to 63.875 in Thursday's regular trading ahead of the report.

Including non-operating charges, Commerce One reported a third quarter loss of $60.6 million, or 37 cents per share.

Third quarter revenue increased 80 percents sequentially and 987 percent year-over-year to $112.7 million.

The company gained 96 customers during the quarter and now has 316 total, not counting those acquired through a recent merger with AppNet, people who use the Commerce One's software through SAP (NYSE: SAP), and business service providers on Commerce One.net. Commerce One's Global Trading Web now has 47 marketplaces up and running, and 107 total.

Commerce One's quarterly release comes a day after an upbeat report from the company's rival, Ariba (Nasdaq: ARBA), which saw better-than-expected results.>