SAN JOSE, Calif., July 31 (Reuters) -
(Nasdaq:BWEB) said on Tuesday that its second-quarter losses widened due to a continuing slowdown in technology spending.
It also announced it will take a third-quarter charge for previously announced job cuts.
BackWeb, which has headquarters in San Jose, California, and Ramat-Gan, Israel, reported a loss of $8.2 million, or 21 cents a share, before special items, wider than a year-earlier loss of $1.1 million, or 3 cents a share.
Net losses, which include amortization, acquisition-related charges, deferred stock compensation and a one-time write-off of an equity investment, widened to $11.6 million, or 30 cents a share, from $9.8 million, or 26 cents a share.
The company said revenues fell to $4.6 million from $10.6 million a year earlier.
BackWeb, which announced earlier this month that it will cut its worldwide work force by 25 percent, said those cuts are now complete and would lead to a third-quarter charge of $1.5 million to $1.8 million.
The company also said it has signed an agreement for a strategic partnership with a top five "major enterprise portal systems integrator and solutions provider" and expects to start garnering revenue from the partnership at the beginning of 2002.
BackWeb shares closed on Monday at $1, the low end of a 52-week range of 98 cents to $20.69.