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might be

blaming Europe, but




At least not anymore. In fact, the business-to-business software company now says it's doing swimmingly over there.

"We're having a great quarter in Europe," Ed Kinsey, Ariba's CFO, said after making a presentation at the

Banc of America Securities Investment Conference

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here. "There are no issues in our business there."

Intel, which makes computer chips, not software, said Thursday its revenue would be lower-than expected because European demand has been slow.

Kinsey's statement Friday is an about face from the message investors heard, or at least thought they heard, at a similar conference. Ariba's seemingly bulletproof stock sold off during the

Robertson Stephens Internet Conference

two weeks ago when the

company said during a private breakout session with investors that its European business was "soft" during August.

But on Friday, Kinsey said, "That comment was taken out of context. After that happened, I got about 50 phone calls from our sales guys in Europe reminding me, that 'Hey, Ed, we're having a great quarter over here.'"

He couldn't immediately provide a breakdown of revenue the company is seeing in Europe, but said historically that about 20% of Ariba's revenue comes from international operations.

Kinsey's perspective is more in line with what

Commerce One


, Ariba's main competitor, has been saying about its European operations. Chuck Donchess, Commerce One's chief strategy officer, said earlier this week that the company was seeing no slowdown in Europe. Commerce One gets about half of its sales from overseas.