CNET también está disponible en español.

Ir a español

Don't show this again

Tech Industry

Broadvision misses 4Q earnings estimates

    Broadvision (Nasdaq: BVSN) fell short of consensus earnings estimates in the fourth quarter.

    After market close Thursday, the provider of e-business software reported fourth quarter net income of $4.5 million, or 2 cents per share, excluding amortization and acquisition-related charges. First Call's survey of 27 analysts predicted a profit of 5 cents per share for Broadvision's December quarter.

    Shares of Broadvision traded at $13.0625 in afterhours activity on the Island ECN, immediately following the release of quarterly results. Broadvision fell $2.0625 to $14.875 in Thursday's regular trading ahead of the earnings report.

    Fourth quarter revenue increased 14 percent sequentially to $136.9 million, ahead of First Call's consensus forecast of $135.1 million.

    The company attributed its earnings shortfall to higher costs. "Our aggressive growth and enhanced presence in global markets did result in higher than anticipated expense levels in Q4, but we feel good about the market and believe that we are well positioned for continued success," said Pehong Chen, president and CEO.

    Sales, general and administrative costs consumed 52.1 percent of Broadvision's revenue in the fourth quarter, compared to 45.2 percent in the third.

    "We are pleased with our performance during the fourth quarter," Chen said, during a conference call with analysts.

    Analysts were cautious about Broadvision prior to the earnings report. Robinson-Humphrey analyst William Chappell last week reduced his 2001 estimates for Broadvision. Earlier this week, Moors Cabot analyst Roy Lobo did the same earlier this week.

    Other analysts downgraded Broadvision in December.

    • BroadVision stumbles on downgrade
    • Broadvision downgraded
    • BroadVision gets S&P 500 bump>