In the first quarter to March 31, it lost $8.4m, down from a loss of $29.3m on revenue of $2.7m, down from $13.1m. Even more distressing for the San Francisco-based company is license revenue was just $272,000, down from $2.4m.
The decline would have been even more dramatic if Commerce One had succeeded with the plan announced in February to sell its supplier relationship management (SRM) assets, which account for the bulk of its sales. In an astonishing U-turn, the company now says it has discovered promising synergies between SRM and its composite process management platform Conductor, including the ability to create composite SRM applications.
After raising $5m in funding from an investment group earlier this year, Commerce One reckons it has enough cash to survive 2004. But for a company that recorded $408m revenue in 2001, its current position is pitiful and the enlarged sales force has a massive job on its hands to reverse the decline.
This article is based on material originally published by ComputerWire
