Seeking a return to pro forma profitability, software maker Peregrine Systems is seeking a buyer for its $120 million supply-chain enablement business unit, the company said last week. The unit, which provides software and services for electronic exchange of business data among companies and their business partners, includes assets the company gained in its acquisitions of Harbinger, an Electronic Data Interchange company, and e-commerce software company Extricity.
By selling off the unit, Peregrine will be better able to regain its financial footing by focusing on its core business of selling applications that automate the maintenance of capital assets, according to the company. The company reported a pro forma net loss of $16.1 million in the third quarter ended Dec. 31, compared to a pro forma net income of $22.6 million in the same quarter a year earlier. Including acquisition costs and other charges, the company reported a net loss of $88.3 million on revenues of $175.2 million. The company also recently acquired Remedy and a unit of IBM's Tivoli division.