For the fourth fiscal quarter of 2001, Pumatech Inc. reported revenues of $7.1 million, compared to $9.0 million reported in the fourth fiscal quarter of 2000. Pro-forma diluted loss per share excluding non-recurring charges, intangible asset amortization and non-cash compensation charges was $(0.16) in the fourth fiscal quarter of 2001, compared to $(0.08) in the fourth quarter of fiscal 2000. Reported diluted loss per share for the fiscal fourth quarter of 2001 was $(0.47), compared to $(0.12) in the year-ago quarter.

Revenue for the fiscal year ended July 31, 2001 increased 25.6% to $38.7 million, compared to $30.8 million reported in the same period last year. Pro-forma diluted loss per share, which excludes non-recurring charges, in-process research and development, intangible asset amortization, non-cash compensation charges, write-offs of direct investments and below the line charges associated with NetMind’s redeemable preferred stock, was $(0.45), compared to a pro-forma diluted loss per share of $(0.20) for the 2000 fiscal year. Reported diluted loss per share for fiscal 2001 was $(0.96), compared to $(0.74) a year ago.

Pumatech’s revenue is broken down into four segments: enterprise business, licensing from the Mobile Application Platform (MAP), service and the Company’s legacy notebook business. Revenue contributions for the fourth quarter of fiscal 2001 for the four segments were 44% enterprise, 37% MAP, 12% service and 7% legacy notebook business.

Brad Rowe, Pumatech’s president and CEO, stated, The Company has faced difficult challenges the past several quarters primarily as a result of the economic slowdown and the reduction in IT capital spending. However, we have taken proactive steps to dramatically reduce spending and stay the course through this turbulent market. We made significant accomplishments this quarter while reaffirming our dedication to deliver the key elements that make the concept of ‘The Real-time Enterprise’ a reality. Because the Company’s technology is designed to leverage the significant investments corporate enterprises have already made in critical business applications such as CRM, ERP, supply chain, and intranets, it can be plugged into the existing business processes and rules of any company to help transform it into a real-time decision-making entity.

SOURCE: COMPANY PRESS RELEASE