Revenue for the third quarter of the fiscal year ending June 30, 2001, the three months ended March 31, 2001, totaled $7.0 million compared with $7.1 million for the same period in fiscal 2000. Net loss for the third quarter of fiscal 2001 was $(3.9) million compared with $(2.9) million for the same period in fiscal 2000. Net loss per share was $(0.13) per share for the third quarter of fiscal 2001 compared with a comparable pro forma net loss per share, before the accretion of preferred stock, of $(0.13) per share for the same period in fiscal 2000.
Total revenue for the nine months ended March 31, 2001 was $26.7 million, up 56% from $17.2 million for the nine months ended March 31, 2000. Net loss, before the accretion of preferred stock, for the nine months ended March 31, 2001 was $(6.3) million compared with $(13.2) million for the same period in fiscal 2000. On a pro forma per share basis, before the accretion of preferred stock, net loss per share was $(0.23) per share for the nine months ended March 31, 2001, compared with $(0.60) per share for the same period in fiscal 2000.
While we completed several new customer contracts and add-on customer sales this quarter, we did not meet our software license revenue targets because several anticipated new contracts were delayed, commented Tim Harvey, president of SynQuest, Inc. The current economic uncertainties are causing companies to take additional time to scrutinize purchases and are requiring additional approval levels.
In this environment, purchasing decisions are now more tightly focused on projects that can provide significant financial savings quickly. SynQuest’s supply chain management solutions balance financial and operations tradeoffs to maximize profit while meeting customer requirements. Our solutions provide companies with a high return on investment in a short period of time. We continue to believe the market remains highly under-penetrated, and the long-term opportunities for SynQuest are strong.
SOURCE: COMPANY PRESS RELEASE
