WebMethods Loss Narrows

The company beats estimates and says its CFO steps down.
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WebMethods'

(WEBM)

fourth-quarter loss narrowed from a year ago despite flat revenue, as the company recorded fewer charges in the latest period.

The company lost $3.9 million, or 7 cents a share, in the quarter, compared with a loss of $8.7 million, or 16 cents a share, last year. Revenue was $52.9 million in the latest quarter compared with $52.8 million a year ago, reflecting a 14% decline in license revenue to $22.2 million and a 27% jump in maintenance revenue to $18 million.

Excluding items, the company earned $579,000, or 1 cent a share, compared with a loss of $2.6 million, or 5 cents a share, last year. On that basis, the company was expected to break even on revenue of $54.1 million, according to Thomson First Call.

For the first quarter ending in June, WebMethods expects to report pro forma results in the range of a loss of 1 cent a share to a profit of 2 cents a share. Revenue should be $49 million to $52 million. Analysts were expecting a loss of 1 cent a share on sales of $50.3 million.

The company also announced that its CFO, Mary Dridi, resigned to "devote more time to her family and personal interests." Mark Wabschall, the company's senior vice president for finance, will be acting CFO while a search for a permanent replacement is conducted.