Intraware Reports Revenue Gains - InformationWeek

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Intraware Reports Revenue Gains

E-services provider Intraware Inc. (Nasdaq-ITRA) saw strong growth in the firstfiscal quarter of 2001, which ended May 31, reporting revenue of $41.5 million, an increase of more than 150% over revenue of $16.5 million in the corresponding quarter last year. Net loss was $11.8 million, or 46 cents per share for the quarter, compared with a net loss of $4.6 million in the first quarter of last year.

Intraware, which hosts an online marketplace through which it resells and distributes services and software from companies including Hewlett-Packard and Oracle, increased revenue 15% over its previous record of $36.1 million during the fourth fiscal quarter of 2000.

Much of Intraware's success can be attributed to the universal need its customers have for managing software logistics, as well as a lack of direct competition in the online-software-distribution marketplace, says Lara Abrams, a senior analyst with the Aberdeen Group. "The biggest pain points of running an operation is managing software and hardware assets," she says. "Intraware provides services that everybody needs."

Intraware's earnings announcement coincided with an agreement last week to raise $25 million in financing from a number of institutional investors, including Marshall Capital, an affiliate of Credit Suisse First Boston, the investment bank that led Intraware's initial public offering in February of 1999. This money will be used to continue development and integration of Intraware's online software sales, deployment, E-learning, and asset-management services, says Frost Prioleau, Intraware's executive VP of products and services.

Intraware last week also unveiled a technology partnership with HP that will allow HP to launch a portal site featuring many of Intraware's software-deployment technologies. From the site, HP will be able to order and implement a variety of software applications, upgrades, patches, and fixes via the Internet for its customers.

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