Commerce One


, a maker of software for Internet transactions, reported Wednesday a far smaller operating loss in the first quarter than Wall Street expected, as revenues surged more than 16 times.

The Pleasanton, Calif.-based company said that excluding nonoperating charges, it lost $14 million, or 9 cents a diluted share, vs. a loss of $7.8 million, or 9 cents a share, in the 1999 first quarter. Analysts surveyed by

First Call/Thomson Financial

had been expecting a loss of 12 cents a share in the latest quarter, after adjusting for the two-for-one stock split.

Including charges, Commerce One said it lost $43.6 million, or 29 cents a diluted share, compared with a loss of $28.8 million, or 20 cents a share, a year earlier. The results were adjusted for a two-for-one stock split that took effect Wednesday.

Revenues for the company jumped to $35 million from $2.1 million the first quarter in 1999, and up from $16.9 million in the December quarter.

Mark Hoffman, chairman and chief executive, said in a statement that, revenues more than doubled over the quarter ended December because of strong demand in all sectors and 70 new customers.

Shares of the company closed up 13 1/16, or 16%, to 95 7/16 ahead of the earnings, which were released after the closing bell. Commerce One continued rising to 99 in after-hours trading on



Throughout the three-month period, Commerce One added such blue-chip companies as


(C) - Get Report


Eli Lilly

(LLY) - Get Report


In a deal that brought the business-to-business company out of obscurity earlier this year, Commerce One entered a joint business-to-business venture with

Ford Motor

(F) - Get Report


General Motors

(GM) - Get Report




to procure

auto parts and other supplies.

Later in the first quarter, Commerce One beat rivals

Cisco Systems

(CSCO) - Get Report




to a venture with

aerospace industry giants including


(BA) - Get Report


Lockheed Martin

(LMT) - Get Report





BAE Systems


of Canada.

License fees surged to $27.1 million, from $1.5 million a year earlier, and revenues from services increased to $7.9 million, from $648,000.

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