Vancouver, BC, July 2, 2001
Pivotal Corporation (Nasdaq NM: PVTL; TSE: PVT) today announced preliminary financial results for the fourth quarter ended June 30, 2001.
— Pivotal Corporation (Nasdaq NM: PVTL; TSE: PVT) today announced preliminary financial results for the fourth quarter ended June 30, 2001. Based on preliminary information, the company expects revenues for the quarter will be in the range of $21.0 to $22.0 million with an expected net loss for the quarter, excluding the amortization of intangibles, restructuring and other costs, in the range of ($0.28) to ($0.32) per share. This loss excludes non-recurring costs that include, but are not limited to, restructuring charges, reserves and write-downs related to certain assets. These non-recurring costs are expected to be in the range of $5.0 to $8.0 million. In the fourth quarter of fiscal 2000, the company reported $18.2 million in revenues and net income, excluding acquisition-related charges and amortization of intangibles of $0.02 per share.
“Companies are continuing to view CRM and demand chain management as strategic components of their IT strategy, but they are reducing their spending for the short-term due to economic uncertainty,” said Norm Francis, president and CEO, Pivotal. “Nevertheless, our strong management team, the strength of our balance sheet and our superior technologies give us confidence in the long-term success of our business. We have commenced a thorough analysis of our business with the goal that we will take whatever aggressive actions are necessary to adjust to the current economic environment and improve profitability.”
Pivotal will host a conference call on Monday, July 2, 2001 to discuss the preliminary results. The call will begin at 2:00 p.m. pacific time (5:00 p.m. eastern time), and can be accessed by dialing +415.904.7324. There will be live audio streaming available on the Pivotal website at www.pivotal.com. Please click here
for the streaming audio. A replay will be available one hour following the end of the call - 3:00 pm pacific time (6:00 p.m. eastern time) through to 3:00 pm pacific time (6:00 p.m. eastern time), July 4th, 2001. For callers within the U.S. or Canada, the replay number is 1.800.633.8284. For callers outside the U.S. or Canada, the replay number is +858.812.6440. The replay pass code for all callers is 19294769. In addition, the replay will be available via our website at www.pivotal.com through to July 26, 2001.
Pivotal’s regularly scheduled earnings call will take place on Thursday, July 26, 2001 at which time the company will provide updated guidance on future results.
Pivotal Corporation enables large and medium-sized businesses worldwide to make, serve, and manage customers with superior speed and efficiency by providing XML-based demand chain networks that deliver personalized customer experiences across every touch point in real-time. These networks unify Internet commerce, CRM, eSelling, and wireless technologies to manage collaborative relationships between customers, business partners, and employees; guide intelligent commerce transactions across multiple channels; seamlessly integrate the demand chain with the supply chain; and fully exploit Microsoft platform standards.
Pivotal solutions are sold in 35 countries and are available in English, French, German, Spanish, Portuguese, Swedish, Japanese and Chinese. Pivotal's worldwide customer base includes more than 1,000 organizations in traditional, commercial and public market sectors and the new digital economy, including KPMG, Intrawest Corporation, Emerson Electric, US Filter, Ericsson, Nissan Motor Corp., HarperCollins Publishers, Qiagen Inc., Deutsche Bank, Trader.com, Southern Company, Lucent Technologies, Inc., NEC, Deloitte & Touche, Principal Financial Group and Red Cross Australia.
Pivotal is a public company traded on the NASDAQ under the symbol “PVTL” and the Toronto Stock Exchange under the symbol “PVT.” More information can be found on the corporate Web site at http://www.pivotal.com.
Statements made herein may contain forward-looking information about management’s expectations, strategic objectives, business prospects, anticipated financial performance and other similar matters. The estimated results included are preliminary and subject to change based upon Pivotal’s completion of accounting procedures with respect to the fourth quarter ended June 30, 2001, and therefore are forward-looking statements. A variety of factors, many of which are beyond our control, affect the operations, performance and business strategy and results of Pivotal and could cause actual results and experiences to differ materially from the expectations and objectives expressed in these statements. These factors include, but are not limited to, the factors described in the company’s 2000 annual report on Form 10-K and subsequent reports on Form 8-K and form 10-Q, which are available at the SEC’s Web site at www.sec.gov. Pivotal undertakes no responsibility to update or revise any forward-looking statements.
Sophia Couspos, Pivotal Corporation