Marimba Inc the Mountain View, California-based internet software distribution and management company reported third quarter net losses just inside expectations with net losses of $580,000 down from $1.5m last time, on revenues that rose 76.0% to $8.3m. Without a charge for amortization of a share compensation scheme that comes out at net losses per share of $0.03, which is two cents better than the Street expected, according to First Call.
Details are scarce because the company had us excluded from its conference call last night before it started, but it says in the release that the sequential revenue growth was 28% and it includes sharply higher OEM sales of Tivoli Systems Inc’s Cross- Site, which is based on Marimba’s Castanet. However, we don’t how much that helped either the top or bottom lines. But we do know that software license revenues rose nearly 28% in sequential quarter, while services only rose 3.8% in the same period. The company’s share price has been trying to pull itself up from the doldrums caused by the downgrading of its stock in late June by Morgan Stanley Dean Witter & Co; the bank that underwrote its IPO in April.
