Interwoven Inches Toward Profitability - InformationWeek
IoT
IoT
Software // Enterprise Applications
News
10/23/2003
03:09 PM
50%
50%
RELATED EVENTS
Faster, More Effective Response With Threat Intelligence & Orchestration Playboo
Aug 31, 2017
Finding ways to increase speed, accuracy, and efficiency when responding to threats should be the ...Read More>>

Interwoven Inches Toward Profitability

Write-offs continued to undermine the company's performance in the third quarter.

Content-management vendor Interwoven Inc. is hoping its new focus on Web services, and the collaboration technologies it gained through its August acquisition of iManage Inc., will one day lead to profitability. In the meantime, it will have to settle with inching toward that goal.

Write-offs continue to undermine the company's financial performance, but pro forma numbers indicate that Interwoven will be closer to profitability once it sheds onetime charges. For the third quarter ended Sept. 30, Interwoven posted a loss of $18.8 million on revenue of $26.1 million, compared with a loss of $86.6 million on revenue of $30.0 million a year earlier. Onetime restructuring charges of $13.3 million contributed to the most recent loss, while the year-ago numbers were skewed by $76.4 million in goodwill charges related to earlier acquisitions. On a pro forma basis, the company lost $4.4 million during the most recent quarter, compared with $7.7 million a year earlier.

During a conference call with analysts, CEO Martin Brauns said Interwoven should enjoy significant momentum once the fruits of the $171 million acquisition of iManage and its Web services strategy begin to take hold. Interwoven has reinvented its content-management architecture by offering more than 170 Web-services components that companies can use to build content-driven applications. The company plans to integrate iManage's collaborative document-management tools to create a content-life-cycle infrastructure. "Customers are very impressed with the vision we've created here," Brauns said. The iManage acquisition is expected to close next month.

In an interview with InformationWeek, Brauns said he believes EMC Corp.'s recent $1.7 billion acquisition of Documentum Inc. would help rather than hurt his company. "How lucky can you get, having your biggest competitor plucked from the market?" he said, adding that Documentum has "become captive to a hardware systems vendor."

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
[Interop ITX 2017] State Of DevOps Report
[Interop ITX 2017] State Of DevOps Report
The DevOps movement brings application development and infrastructure operations together to increase efficiency and deploy applications more quickly. But embracing DevOps means making significant cultural, organizational, and technological changes. This research report will examine how and why IT organizations are adopting DevOps methodologies, the effects on their staff and processes, and the tools they are utilizing for the best results.
Register for InformationWeek Newsletters
White Papers
Current Issue
IT Strategies to Conquer the Cloud
Chances are your organization is adopting cloud computing in one way or another -- or in multiple ways. Understanding the skills you need and how cloud affects IT operations and networking will help you adapt.
Video
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Flash Poll