Commerce Onestock took a nice ride early trading, shooting up
ore than 30 percent after reporting a smaller loss than expected for the
fourth quarter and predicting 2001 sales of $900 million to $925 million.
The stock was up $6.81 in shortly after the market opened, trading at $28.50
after closing Thursday at $21.68. Its 52 week high is $137.81; the low $16.50.
The company, reporting after the bell on Thursday, said revenues for the
fourth quarter totaled $191.4 million compared with $16.9 million for the
loss of $11.7 million, or 8 cents per share, for the 1999 quarter. Analysts
had predicted a loss of 8 cents a share this time around.
For the year, revenues came to $401.7 million, compared to $33.5 million in
1999. Net loss for the 12 months was $344.9 million, compared to a loss of
$63.3 million in the prior year. Fully diluted net loss per share for the
full year 2000 came to $2.05, compared to a loss of 74 cents a year ago.
“We believe Commerce One’s results for the quarter and the year reflect the
significant and continuing demand for e-marketplace solutions,” said Mark
Hoffman, chairman and chief executive officer.
CFO Peter Pervere was quoted as telling analysts in a conference call to
expect sales of between $205 million to $210 million in the first quarter,
high above the current estimate of $184 million, and a loss of between $7
million to $9 million.
“In an environment where most software companies have been cautious on their
guidance, Commerce One was enthusiastically optimistic,” Reuters quoted Mark
Verbeck, a senior analyst at San Francisco-based Epoch Partners, as saying.