BEA Systems On Revenue Roll - InformationWeek

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BEA Systems On Revenue Roll

BEA Systems Inc. scored its 12th consecutive quarter of record revenue when it reported results today for its third quarter ended Oct. 31. But it disappointed investors with weak net income and earnings figures.

Revenue for the quarter was $80.9 million, up 81% from the same period last year. But the company reported a net loss of $6.2 million, or 9 cents a share. This compares with a loss of $40.3 million or 59 cents a share year-over-year.

The results included a one-time charge for BEA's acquisition of WebLogic Inc. Excluding the charge, the company reported net income of $7.9 million, or 7 cents a share, up 88% from adjusted net income of $4.2 million, or 4 cents a share, in the third quarter of 1997. Analysts had expected 9 cents a share for the quarter.

BEA saw growth in its professional services business, as well as improved gross margins, company officials said. But the weakened Asian market and slowdowns in the United States and Europe lengthened the enterprise software sales cycle, hurting results, the company added.

For the first nine months of its fiscal year, BEA reported revenue of $207 million, compared with $113 million for the same period last year. Excluding one-time charges, net income was $16.3 million, or 14 cents a share, compared with $7 million, or 1 cent a share, for the first nine months of the prior fiscal year.

BEA closed up 1-3/4 to 26-3/8 ahead of the announcement.

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