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Pivotal Revenue Grows, Thanks To Services

Revenue is up for Pivotal, but it still posts a loss.
Like many large-scale CRM software vendors, Pivotal Corp. revealed fourth-quarter and year-end results that were bolstered by sales of maintenance and other services.

For the fourth quarter of fiscal 2001 ended June 30, Pivotal reported revenue of $22.1 million, up almost 22% from the same quarter last year. Revenue from licenses was $12 million, down $1.1 million, compared with a year ago. Revenue from services and maintenance made up the difference, though, bringing in $10.1 million, compared with $5 million a year ago. The net loss for the quarter was $16.7 million. This compares with a net loss of $7.7 million in the fourth quarter of 2000.

For the year, the company reported revenue of $95.3 million, up 80% over fiscal 2000. The pro forma loss for the year was $5.8 million, compared with earnings of $200,000 last year. Services revenue outgrew license revenue for the year. License revenue was up almost 57% for the year, while services revenue skyrocketed about 140% year over year.