A day after integration-software maker
reported a 13% year-over-year increase in revenue, rivals
reported third-quarter revenue Wednesday that declined from a year ago.
Shares of SeeBeyond rose 18 cents, or 12.4%, to close Wednesday at $1.63. Shares of webMethods closed flat at $6.82 while Vitria shares gained 3 cents, or 4.1%, to close at 77 cents. In after-hours trading, SeeBeyond shares inched up to $1.65, webMethods fell to $6.80 and Vitria shares moved a penny to 76 cents.
Under generally accepted accounting principles, SeeBeyond registered a third-quarter net loss of $8.2 million, or 10 cents a share, compared to a net loss of $7.8 million, or 11 cents a share, in the same period a year ago.
Excluding charges, SeeBeyond reported its third-quarter pro forma net loss widened to 10 cents a share from 4 cents a share in the year-ago period. That was 2 cents better than the Wall Street consensus estimate gathered by Thomson Financial/First Call.
SeeBeyond said third-quarter revenue declined 17.2% to $35.7 million from $43.1 million a year earlier. Analysts were expecting third-quarter revenue of $32.3 million in the third quarter.
Vitria, meanwhile, said its third-quarter net loss, as calculated by generally accepted accounting principles, narrowed to $11.1 million, or 9 cents a share, from $16.1 million, or 13 cents a share, a year earlier. The company's pro forma net loss declined to 7 cents a share from 11 cents a share a year ago.
Vitria registered third-quarter revenue of $26 million, down 13.6% from $30.1 million a year earlier.
Wall Street was expecting Vitria to post a pro forma net loss of 10 cents a share on $27 million in revenue.
The day before, fellow integration-software maker webMethods reported that total revenue for its fiscal second quarter ended Sept. 30 increased 13% to $46.2 million from $40.7 million in the year-ago period. The company's GAAP net loss narrowed to $4.9 million, or 10 cents a share, from $33.2 million, or 67 cents a share, a year earlier. The company posted a pro forma net loss excluding charges of $2.8 million, or 5 cents a share, compared to $8.1 million, or 16 cents a share, a year earlier.
On Wednesday, U.S. Bancorp Piper Jaffray analyst Michael Marzolf lowered his rating on webMethods to a market perform from outperform, noting that the company's loss was 2 cents higher than he estimated.
In his note, Marzolf said he believes webMethods is outperforming its peers but he has concerns about the overall enterprise application integration sector. He said deals are shrinking, and competition is intensifying from heavyweights such as
and technology is moving toward standards that could make traditional integration less necessary. (Marzolf's firm has done investment banking business for webMethods.)