Business Wire - October 21, 1999 - Sagent Technology, Inc., (NASDAQ: SGNT) announced its financial results for the third quarter ended September 30, 1999. Revenue for the quarter increased 117% to $10.0 million, from $4.6 million in the third quarter of 1998. Net losses for the 1999 nine-month period were $970,000, compared to a net loss of $11.7 million in the same period last year. License revenues for the quarter increased 149% to $7.3 million, from $2.9 million in the third quarter of 1998, and 47% sequentially from the second quarter of 1999. Ken Gardner, Sagent's president and chief executive officer stated "Our revenues have increased each quarter by more than 100% from the comparable period in the previous year and have grown sequentially for each of the eleven quarters since we began shipping Sagent products. Achieving profitability this quarter represents a major milestone for Sagent and it is particularly gratifying because that milestone was achieved on significant license revenue growth. Our revenue growth this quarter was driven by the strong demand for Sagent's complete E-Business Intelligence Solution". During the quarter, Sagent signed 45 new customers, including drugstore.com, Boeing Employee's Credit Union, Telkom South Africa, and PSINet. In addition, Sagent expanded their strategic relationship with Siebel Systems, increased the number of OEM partners, and expanded their international presence by entering into a partnership with a leading systems integrator in Japan. Sagent also announced the availability of Sagent Data Load Server for Sun Solaris, another port of their Extract/Transform/Load tool.
Sagent refers to themselves as "a leading solution provider of e-business analytic applications". In addition to their ETL (Extract/Transform/Load) tool, they are making in-roads with e-commerce. As stated by their president, "Customers are choosing Sagent because we are the only company in the market today offering a complete, tightly integrated, scalable E-Business Intelligence Solution from a single vendor". Judging from the sudden rash of vendors moving to integrated solutions (See TEC News Analysis Article: "Data Warehouse Vendors Moving Towards Application Suites", September 29, 1999), Sagent would appear to be on the right track. Examples of applications using Sagent technology include drugstore.com, which selected Sagent to track and analyze customer purchasing data. As more and more companies attempt to conduct e-commerce, Sagent's ability to provide references for working e-business solutions should help them in competitive situations. In addition, Sagent recently announced the release of Sagent Solution version 4.1, which adds integrated IBM Universal DataBase access, and allows DB/2 to be used as a source, target, and/or repository. UDB support is essential, as DB/2 is the most common database in warehousing.
Sagent should be considered on any long list of vendors for both Extract/Transform/Load tools, and for business intelligence solutions involving e-commerce. In addition, customers utilizing IBM Universal DataBase for e-commerce data warehousing should consider the product.