Thursday, Ariba Inc. (ARBA) reported a second-quarter net loss that narrowed from the year-ago period primarily due to higher services and other costs.
The Sunnyvale, California-based company reported a second-quarter net loss of $4.74 million or $0.06 per share that narrowed from $12.40 million or $0.16 per share in the corresponding quarter last year.
Non-GAAP net income for the quarter increased to $12.66 million or $0.15 per share from $6.94 million or $0.09 per share in the similar period last year. On average, twelve analysts polled by Thomson Reuters estimated earnings of $0.14 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the second-quarter of fiscal 2009 increased to $84.69 million from $80.54 million in the corresponding period last year. Analysts estimated revenue of $85.04 million for the quarter.
Bob Calderoni, Chairman and CEO, said, "Ariba continued to perform well despite the challenging environment. I believe this is a testament to the breadth and depth of our spend management solutions, which enable companies to reduce their operating costs and effectively manage working capital. I am also pleased with the operational discipline that Ariba demonstrated this quarter. Although we face increased operating risk as a result of the economic downturn, we remain on track to achieve our financial targets for this fiscal year."
Total non-GAAP revenues for the quarter was $84.69 million, up from $82.80 million in the comparable period of fiscal 2008.
Services and other costs for the quarter declined to $18.52 million from $24.03 million in the second-quarter of 2008.
Amortization of acquired technology and customer intangible assets for the quarter was $1.39 million, down from $4.69 million in the same period last year.
Total cash, cash equivalents, long-term investments and restricted cash were $159.7 million at March 31, 2009, up $16.7 million from December 31, 2008.
For the six-month period of fiscal 2009, the company reported a net loss of $1.31 million or $0.02 per share that narrowed from a net loss of $30.72 million or $0.41 per share in the corresponding period last year.
Non-GAAP net income for the half-yearly period increased to $12.66 million or $0.15 per share from $6.94 million or $0.09 per share in the six-month period of fiscal 2008.
Total revenues for the half-yearly period increased to $170.78 million from $157.51 million last year similar period.
Ariba closed Thursday's regular trading at $9.61, up $0.53 or 5.84%, on a volume of 2.16 million shares on the Nasdaq. In after-hour, the stock gained 39 cents or 4.06% trading at $10.0.
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