5/1/2003 - Marimba, Inc. (Nasdaq: MRBA), the Software Change Management Company, announced its financial results for the first quarter ended March 31, 2003.
First quarter 2003 revenues were $10.1 million, compared with $9.6 million for the fourth quarter of 2002 and with $8.1 million for the first quarter of 2002. Net income for the first quarter of 2003 was $343,000, or a profit per diluted share of 1 cent. This compares with net income of $201,000, or 1 cent per diluted share, sequentially and a net loss of $3.9 million, or 16 cents per diluted share, during the first quarter of 2002. At March 31, 2003, the company's cash and total investments were $47.9 million.
"We had a solid first quarter, achieving an operating profit during a tough economy. We've improved our bottom line for the fourth consecutive quarter and we continue to work to build a business that will show ongoing improvements for the long haul," said Rich Wyckoff, president and CEO of Marimba. "In Q1, we had a number of important competitive wins. In addition, our recently announced products and partnerships are delivering demonstrable value to our customers."
Highlights for the first 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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