The California-based company reported revenues of $18.5 million, up from the $17 million and $17.7 million in its prior and year-ago quarters respectively. Plumtree however remains in the red, despite narrowing its quarterly net loss to $373,000 – compared to the net loss of $889,000 in the same quarter year-ago quarter.
The results were announced at Plumtree’s Odyssey 2003 user conference being held in Florida, with the growth exceeded analyst expectations. The company admitted that the current forces of consolidation in the market were scary but that financially it has managed to strengthen its balance sheet with more cash and an increase in deferred revenue.
It attributed its growth to the release of its Enterprise Suite software, which stitches together IT applications and surfaces them through a collaborative Web portal interface. It also has a new sales-oriented approach focused on ROI which bought 34 new customers on board during the last quarter.
The company accepts it will never be number one in the broadly defined portal market but we’re it does lead the marketplace for customers that have heterogeneous systems and want to build custom Web-based applications from them quickly and cost effectively.
This article was based on material originally published by ComputerWire.
