BroadVision Posts Large Loss, but Pro Forma Number Beats Estimates

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BroadVision (BVSN) - Get Report said its third-quarter loss widened to $429 million, or $1.54 a share, including various charges, although on a pro forma basis the company's loss was slightly narrower than predicted.

The Palo Alto, Calif., maker of business software said its pro forma loss was $16.7 million, or 6 cents a share, compared with $53.1 million, or 16 cents a share; the consensus expectation was for a pro forma loss of 11 cents. Revenue fell 57% to $51.2 million.

The company has been on a cost-cutting campaign and said it was able to reduce quarterly expenses by $65 million, or 49%, since the start of the year. The latest quarter included a $336 million charge, mainly to write down the value of an acquisition.