BEA Joins the Nasdaq-100
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It's not all downturns and doldrums in the tech world these days.
San Jose-based BEA Systems (Nasdaq: BEAS), an eBusiness-centric infrastructure software developer, announced today that it is will become a member of the Nasdaq-100 Index, effective at the beginning of trading Monday, December 18, 2000.
Shares of BEA will also be included in the Nasdaq-100 Index Tracking Stock (Amex: QQQ).
While many of BEA's dotcom clients are facing some of their lowest valuations all year, BEA, as the backend developer for companies ranging from Goldman Sachs to GTE, has enjoyed 20 consecutive quarters of revenue growth. Bill Coleman, founder, chairman and CEO of BEA, says the company's flagship product, an eCommerce development application knows as the WebLogic E-Business Platform, has helped bring the company continual improved earnings and a customer base that now exceeds 8,000 clients.
"It's an honor to cap off 2000 by joining the Nasdaq-100," says Coleman. "We've worked hard to ensure that the BEA WebLogic E-Business Platform becomes the foundation to enable businesses to develop successful eCommerce applications."
Last quarter, BEA reported revenues of $224.0 million, up 77% from $126.5 million for the same period the prior year. The company also reported record third quarter license fees of $128.2 million, up 23% from $104.2 million in the second quarter of this fiscal year.
In early afternoon trading, BEA was up 50 cents to $78.44 a share.