Commerce One Inc, the Walnut Creek, California supplier of online procurement software and order and payment processing software and services reported third quarter results in line with expectations in what is the company’s second set of public results. Net losses were $10.4m, or $0.45 per share on revenues that rose to $10.4m in the quarter, up from $726,000 last year and $4.2m in the previous quarter. The company says it expects to see modest sequential revenue growth for the fourth quarter and says that its average selling price of BuySite during the third quarter was $600,000, slightly less than previous quarters, but the company says it doesn’t know yet if this a trend.
The overall revenue split was 75-25 in favor of software over services and the company expects that to balance at 70-30 over time. During the quarter the company added 15 new customers overall, compared with eight in the previous quarter. Two of those – Pepsi-Cola General Bottlers and Duke Energy Corp – came via the company’s alliance with PeopleSoft Inc. Cash and equivalents stood at $116.2m as of September 30 and deferred revenues were $20.0m. The company says it is still on course to be profitable in 2001.
