Interwoven Inches Toward Profitability - InformationWeek
IoT
IoT
Software // Enterprise Applications
News
10/23/2003
03:09 PM
50%
50%
RELATED EVENTS
4 Keys to Improving Security Threat Detection
Dec 15, 2016
In this webinar, Ixia will show how to combine the four keys to improving security threat detectio ...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
How Enterprises Are Attacking the IT Security Enterprise
How Enterprises Are Attacking the IT Security Enterprise
To learn more about what organizations are doing to tackle attacks and threats we surveyed a group of 300 IT and infosec professionals to find out what their biggest IT security challenges are and what they're doing to defend against today's threats. Download the report to see what they're saying.
Register for InformationWeek Newsletters
White Papers
Current Issue
Top IT Trends to Watch in Financial Services
IT pros at banks, investment houses, insurance companies, and other financial services organizations are focused on a range of issues, from peer-to-peer lending to cybersecurity to performance, agility, and compliance. It all matters.
Video
Slideshows
Twitter Feed
InformationWeek Radio
Archived InformationWeek Radio
Join us for a roundup of the top stories on InformationWeek.com for the week of November 6, 2016. We'll be talking with the InformationWeek.com editors and correspondents who brought you the top stories of the week to get the "story behind the story."
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