Marimba Announces Fourth-Quarter 2002 Financial Results

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:

  • Repeat customer wins, including Charles Schwab, DTE Energy, Duke Energy, GE Capital Global Consumer Finance, Hutchinson 3G, and NPower.
  • New customer wins across multiple industry segments, including Galileo International, HFC Bank, Oxfam International, Skadden Arps, US Agency for International Development (USAID), and Ultimate Electronics.
  • Sales to multiple entities in the public sector, including a leading Department of Defense agency.
  • Announced third-generation Server Change Management product family.
  • Announced Desktop/Mobile Management support for the Mac OS X platform.
  • Announced partnership with BMC Software and joined its MarketZone program as a Premier Level member.
  • Hosted Windows Migration seminar with IDC and InstallShield Software Corp.
  • Hosted Server Change Management seminar with Gartner, Inc.

About Marimba
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.

Previous Page | News by Category | News Search

If you found this page useful, bookmark and share it on:

 
Embedded Star Newsletter
Don't have time to visit Embedded Star everyday? Then sign up for our free newsletter. We'll send you an email when we have something to share with you. Your email address will be kept confidential and we will not share, sell, or rent it to anyone. You can unsubscribe at any time by clicking a link in the email.

Enter your email address to sign up for our free newsletter:   

If you are familiar with RSS feeds, you can also sign up for our free blog feed. Our RSS feed is updated in real-time while our newsletter is updated daily.