IPO Update: Agile Software, MyPoints.com shine

2 min read

Agile Software (Nasdaq: AGIL) closed up 18 7/8, or 90 percent, to 39 7/8 Friday in its initial public offering.

Shares had already volleyed over their expected range of $18 to $20 a share and priced at $21 Thursday.

Agile Software, which makes software enabling communication between manufacturers and suppliers, had already raised the range of its 3 million share offering to from its initial price range of $15 - $17.

The company had a net loss $11.4 million on revenue of $16.8 million for the fiscal year 1999, double the $8 million for 1998. Net loss was $8.9 million in 1998. As of April 30, 1999, the accumulated deficit was about $26.5 million.

Risks cited in Agile's regulatory filings include its reliance on consulting and integration partners to implement its software and provide customer support. Only three companies provide implementation services for its products in North America.

The company said it also faces stiff competition from in-house developments by customers, vendors of engineering information management software, such as Parametric Technology Corporation, Dassault Systemes S.A., and developers of general purpose groupware software such as Novell, Inc. and Lotus Development Corporation.

The IPO's underwriters are Morgan Stanley Dean Witter, Deutsche Banc Alex Brown and Hambrecht & Quist.

Other IPOs scheduled to trade Friday include:

  • MyPoints.com (Nasdaq: MYPT) picked up 3 to 11 Friday after it debuted with 5 million shares priced at $8 each, a drop from the $10-12 per share range it previously anticipated.

    The initial public offering of the San Francisco- based online direct marketing company is being underwritten by BancBoston Robertson Stephens.

    The company's net loss for the six months ended June 30 was $15.8 million on revenue of $3.9 million, compared to a loss of $2.5 million on revenue of $306,000 for the same period in 1998.

  • Lionbridge Technologies Inc. (Nasdaq: LIOX) gained 2 5/8 to 12 5/8 in its debut.

    The provider of globalization services to technology companies priced shares $10 each, below its estimated range of $11-$12 and dropped the number of shares it had planned to sell from 4 million to 3 million. The Massachusetts-based company's debut is underwritten by Prudential Securities.

    Lionbridge had a net loss of $9.8 million on revenue of $23.8 million for the 6 months ended June 30, 1999, compared to a loss $2.5 million on revenue of $18.1 million in the same period of 1998.

    Risks to investors cited in the company's regulatory filings include a concentration of revenue in 5 primary clients, which made up about 34 percent of its revenue in the first six months of 1999. IBM is the company's main client, and accounted for about 14 percent of its revenue in fiscal 1998.