Ariba's 1Q Loss Smaller Than Expected

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Ariba reported a loss for its first fiscal quarter of 2002, but the results edged past Wall Street estimates.

The Sunnyvale-based e-procurement software vendor reported a pro forma loss of $6.9 million, or 3 cents per share, on revenue of $55.3 million. First Call/Thomson Financial had expected a loss of 5 cents per share.

Including charges, the company lost $161.3 million, or 63 cents per share.

In the year-ago quarter, Ariba reported pro forma net income of $14 million, or 5 cents per share. But the overall loss for the first quarter of fiscal 2001 was $347.6 million, or $1.48 per share.

Ariba CEO Bob Calderoni and other company executives will discuss the company's latest financial results in a conference call with media and financial analysts Tuesday morning. Rival Commerce One is also expected to report quarterly financial results Tuesday, at the close of the market.

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