Marimba Increases Revenue by 13% Year Over Year
7/31/2003 - Marimba, Inc. (Nasdaq: MRBA), the Software Change Management Company, announced its financial results for the second quarter ended June 30, 2003.
Second quarter 2003 revenues were $10.2 million, compared with $10.1 million for the first quarter of 2003 and up 13% from $9.0 million for the second quarter of 2002. Net income for the second quarter of 2003 was $704,000 or a profit per diluted share of 3 cents. This compares with net income of $343,000, or 1 cent per diluted share, sequentially and a net loss of $5.3 million, or 22 cents per diluted share, during the second quarter of 2002. At June 30, 2003, the company's cash and total investments were $51.2 million, up $3.3 million from the prior quarter.
"We're pleased that Marimba has shown progress on a number of fronts," said Rich Wyckoff, president and CEO of Marimba. "On the financial side, we've now had three consecutive quarters of GAAP profitability. On the product side, we had a prolific quarter, shipping a number of new and enhanced products to help our customers solve their most difficult software management challenges. We also added a significant number of new customers during the quarter and had a strong contribution from the government sector."
Highlights for the second quarter included:
- New customer wins across multiple industry segments, including Credit Lyonnais, Crown Media Holdings, MDC Holdings, Reality Group Ltd., Starbucks Corporation, and Synopsys.
- Repeat customer wins, including Circuit City Stores, Credit Agricole, Dillard's, H&R Block, Océ, Ultimate Electronics, Verizon, and Washington Mutual.
- Sales to multiple entities in the public sector, including a U.S. federal government intelligence agency, a unit of the French postal service, and a government agency in Singapore.
- Shipped next-generation migration solution, which reduces the time and costs required to manage operating system deployments and migrations.
- Shipped Device Management product to support PDAs and handheld devices.
- Shipped Server Change Management product enhancements to further increase our customers' ability to manage large heterogeneous data center environments.
This conference call will be Webcast live, and the Webcast will be available via the Investor page of Marimba's Website at http://www.marimba.com/investor/conference_call.html for 3 weeks and on an archived basis for up to 11 months thereafter. In addition, a telephone replay of the conference call will be available for 3 weeks at 719-457-0820, passcode 167754.
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.
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