Event
Summary
M2 Presswire
- October 22, 1999 - Brio Technology, Inc., (NASDAQ: BRYO) today reported revenues
of $30.7 million for its second fiscal 2000 quarter ending September 30, 1999.
This represents a 53% increase from $20.1 million in the comparable fiscal quarter
of 1999. Net income for the quarter was $2.8 million, excluding non-recurring
operating expenses of $20.2 million associated with the acquisition of Sqribe
Technologies Corp. and the settlement of the Business Objects, S.A. litigation.
(See TEC News Analysis Article: "Business
Objects Outguns Brio Technology in Patent Dispute", September 14, 1999 for
further information). This is compared to net income of $387,000 for the first
quarter of fiscal 1999. Including the effect of the merger and the litigation
settlement, the net loss for the first quarter of fiscal 2000 was $17.5 million,
or 66 cents per share. Brio president and CEO Yorgen Edholm stated "The introduction
of Brio ONE combines the offerings from both companies and provides us the ability
to further address the needs of our customers and extend our solutions for the
e-business and e-enterprise markets. As a result, Brio has seen an upswing in
attracting new e-business companies, such as priceline.com and webvan.com".
Brio ONE is designed to be
an integrated business intelligence platform for e-enterprise. During the quarter
Brio added a number of new customers, including AT&T, Bell South, IBM, MCI WorldCom,
and Yale University. In addition, during the quarter PeopleSoft announced that
Brio.Report would be its standard enterprise reporting solution. Brio Enterprise
6.0 also became certified for SAP Business Information Warehouse.
Market
Impact
Brio Technology
describes their Brio ONE product as the "combination of the strengths of Brio
and SQRIBE in business intelligence, enterprise reporting, and enterprise information
portal software". Following on announcements by competitors such as Sagent Technology,
Microstrategy, and Cognos, Brio has continued to develop their products for
the highly competitive e-business marketplace. Brio states that "Brio ONE enables
customers to derive higher business value from all of their enterprise information
sources, including e-commerce applications, enterprise resource planning (ERP),
sales force automation (SFA), and customer relationship management (CRM) applications,
as well as data marts, data warehouses, and legacy data sources". In order to
be successful in this market Brio will have to continue to improve their products
and develop new ones quickly, as the average cycle time between new releases
by vendors in this space continues to shrink.
User
Recommendations
Brio Technology
should be considered as a candidate on a long list for business intelligence
tools. The SQRIBE acquisition increases Brio's strength in query and reporting
tools, and the settlement of the Business Objects litigation allows Brio to
re-focus their energies on product enhancements. Customers attempting to design
e-business solutions and enterprise information portals should also consider
Brio's products.