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October 29, 2008

Late yesterday, spend-management software developer Ariba Inc. has reported a net loss of $6,000,000 for the fourth quarter, against a loss of $3,780,000 in the corresponding period for 2007.

However, revenue increased 13.1 percent at $85,530,000. The 4th quarter loss was attributed to generally higher operating expenses.

Ariba's operating loss was $5.77 m compared to a loss of $6.29 m for the 2007 period. The net loss per share was $0.08 compared to a net loss per share of $0.05 in the same period last year.

Overall subscription and maintenance revenue grew 36.1 percent to $51.04 m, while services and other revenue dropped a little less than 9.1 percent to $34.48m.

During the quarter, Ariba said it added thirty-three new customers, and closed 26 transactions over $1,000,000 each, including 16 software deals over $1 m, and 185 on-demand product deals.

Its 12-month subscription software backlog grew 78.4 percent year-over-year to $117 m. Net cash flow from operations also was higher by 54 percent to $10.2 m.

Bob Calderoni, Ariba chief executive said "as the global financial crisis intensifies, companies are facing even greater pressure to reduce costs and manage their working capital. As the leading spend management solutions provider, Ariba is well-positioned in helping them, and as evidenced by our results for the fourth quarter and fiscal year 2008, we continue to execute well to maximize this opportunity."

Calderoni added "sales of our subscription software again reached record levels and our backlog continues to increase. Together, these assets give us strength in the face of economic uncertainty."

For fiscal 2008, Ariba reported a net loss of $41.1 m compared to the net loss of $15 m a year ago, on increased revenue of 9.1 percent to $328.1 m.

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Source: Ariba Inc.