Its loss was $28.8 million, or 40 cents a share, from a loss of $7.6 million, or 21 cents, a year ago. Its loss before interest, tax and amortization was 16 cents a share. Analysts expected the company to lose 15 cents a share, according to First Call/Thomson Financial. Revenue rose to $16.9 million from $1.0 million a year ago.
Commerce One makes software and produces Web sites that allow companies to connect to their suppliers and buy goods through an online marketplace. The company, based here, has attracted customers such as General Motors and Royal Dutch/Shell Group.
In early afternoon trading, Commerce One shares were down $12, or about 6 percent, to $187.88. Since the company went public on July 1, its shares have gained 2,755 percent.
"The number is in line," said David Garrity, an analyst at Dresdner Kleinwort Benson, who rates the stock "buy."
The company exceeded Garrity's revenue estimate of $15.6 million because it added more customers than he had expected. Garrity had predicted Commerce One would gain 19 customers in the quarter.
Instead, it added 23 new customers, including Canada's Toronto-Dominion Bank and Grupo Financiero Banamex-Accival, Mexico's largest bank.
License fee revenue, or software sales, rose to $13.1 million from $678,000. Service revenue rose to $3.8 million from $336,000.
The company also wrote off $6.3 million in purchased in-process research and development, $545,000 in amortization of deferred stock compensation, and $8.2 million in amortization of goodwill and other intangible assets.
For the year, Commerce One had a loss of $63.3 million, or $1.06 a share, from $24.6 million, or 87 cents, in the year-earlier period.
Revenue for the year was $33.6 million from $2.6 million a year ago.
Play video
There are currently no comments for this post.