1/29/2003 - Marimba, Inc. (Nasdaq: MRBA), the Software Change Management Company, announced its financial results for the fourth quarter ended December 31, 2002.
Fourth quarter 2002 revenues were $9.6 million, compared with $8.6 million for the third quarter of 2002 and with $10.8 million for the fourth quarter of 2001. GAAP net loss for the fourth quarter of 2002 was $404,000, or a net loss per diluted share of 2 cents. This compares with a net loss of $1.8 million, or 7 cents per diluted share, sequentially and a net loss of $1.5 million, or 6 cents per diluted share, during the fourth quarter of 2001. Excluding non-cash amortization of deferred stock compensation, pro forma net loss for the fourth quarter of 2002 was $309,000, or a net loss per diluted share of 1 cent. This compares with a pro forma net loss of $1.7 million, or 7 cents per diluted share, sequentially and with a pro forma net loss of $1.0 million, or 4 cents per diluted share, for the fourth quarter of 2001. At December 31, 2002, the company's cash and total investments were $50.3 million.
"We're encouraged by our results in Q4, which represent our third straight quarter of improvement in the bottom line," said Rich Wyckoff, president and CEO of Marimba. "We had significant revenue contribution from indirect channels and a number of important new and repeat customer wins, leaving us well positioned for 2003."
Highlights for the fourth quarter included:
Marimba, Inc., the Software Change-Management Company, is headquartered in Mountain View, Calif. Marimba's Desktop/Mobile Management, Server Change Management, and Embedded Management product families allow Global 2000 companies to better manage their IT resources, increase operational efficiency and reduce IT costs. Additional information is available at www.marimba.com.
Marimba is a registered trademark of Marimba, Inc. in the U.S. and certain other countries.
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