Revenue Up, Losses Down For Docent - InformationWeek

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Revenue Up, Losses Down For Docent

Fueled by revenue brought in through integration partners such as Accenture and Deloitte Consulting, learning-management-system maker Docent Inc. pleased analysts when it reported increased revenue and decreased losses for its first quarter.

Eighteen of Docent's 40 new customer wins for the quarter were secured through its partnerships. Needham & Co. analyst Dalton Chandler praised the strategy, given that "most companies only receive 10% of their revenue through partners."

For the quarter ending March 31, 2001, Docent posted a loss of $13.8 million, or 34 cents a share, on revenue of $7.1 million, compared with a loss of $15.2 million, or 39 cents, on revenue of $5.6 million for the previous quarter. A year ago, the company reported a loss of $14.2 million, or $3.70, on revenue of $731,000. The sharp decline in per-share losses over the year was due to a nearly tenfold increase in the number of shares outstanding.

W.R. Hambrecht analyst Trace A. Urdan said the numbers represented a "blemish-free quarter." Docent CEO Dave Ellet says the company will continue to focus on developing its revenue stream through its integration partners.

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