Market's Recognized Need for Enterprise-Class Content Management
Drives Pro Forma Net Income of $0.01
SUNNYVALE, Calif., October 17, 2000 - Interwoven, Inc. (Nasdaq: IWOV), the
leading provider of enterprise-class content management software, today reported
record third quarter results, with revenues for the quarter ended September
30, 2000 of $39.4 million, an increase of 816% over revenues of $4.3 million
for the quarter ended September 30, 1999 and a 62% sequential increase over
revenues of $24.3 million for the quarter ended June 30, 2000. License revenues
represented 67%, and service revenues 33%, of the total revenues for the quarter
ended September 30, 2000. With the addition of 140 new license customers in
the quarter ended September 30, 2000, Interwoven now has over 500 customers.
Net income before the effect of non-cash charges related to stock-based compensation
and acquisition-related expenses was $548,000, or $0.01 per share on a pro forma
basic and diluted basis, for the quarter ended September 30, 2000, compared
with a net loss of $3.5 million, or $0.10 per share on a pro forma basic and
diluted basis, for the quarter ended September 30, 1999.
For the nine-month period ended September 30, 2000, revenues were $77.5 million,
a 733% increase over revenues of $9.3 million for the comparable period in 1999.
The net loss before the effect of non-cash charges related to stock-based compensation
and acquisition expenses was $2.4 million, or $0.05 per share on a pro forma
basic and diluted basis, for the nine months ended September 30, 2000, compared
with $8.1 million, or $0.27 per share on a pro forma basic and diluted basis,
for the nine month period ended September 30, 1999.
"Interwoven continues to serve the needs of enterprise customers with multiple
Web initiatives through enterprise-class content management," said Martin Brauns,
president and CEO of Interwoven. "This quarter I am especially proud of the
new initiatives we have launched to extend the scope of enterprise-class content
management through our new B2B and wireless frameworks, our OEM and reseller
program and our deepened relationship with our leading eBusiness application
partners."
Customers
Interwoven signed 140 new license customers in the quarter ended September
30, 2000. New customers included the AARP, Air Canada, Andersen Consulting,
Coca-Cola, Cox Communications, DuPont, Duke Energy, Enron, Excite@Home, First
USA, Forbes, Harrah's, Household International, Humana, Lehman Brothers, Major
League Baseball, Mazda, McGraw-Hill, Merck & Co., the National Basketball Association,
Northern Trust, Phillip Morris, Reuters, Staples, Time Warner Telecom, Toyota
and Washington Mutual Bank. With these additions, Interwoven's total customer
count is now over 500.
International
28 new international customers were added in the quarter ended September 30,
2000, including China.com, CommerzBank, DBS Bank, Dentsu, Ericsson, Marks &
Spencer, Phillips, Swiss Life, Thompson Travel, and Westfield.
Products
Interwoven announced the shipment of version 4.5 of its content management
suite including TeamSite, TeamSite Templating and OpenDeploy software during
its GearUp conference on October 2, 2000. For full details, please see earlier
release at http://www.interwoven.cn/press/100245pr.html .
The Interwoven UltraTeam Partner Program added 14 new partners in the third
quarter of 2000, bringing the total to 125.
-New B2B partners included GeoTrust, TIBCO, and WebMethods.
-New wireless partners included AnyDevice, AlterEgo, Everypath, Tantau and Viafone.
-Other new technology partners included Adobe and iPlanet.
In Q3, Interwoven trained over 300 consultants from 90 different partners including
Agency.com, Andersen Consulting, Bowstreet, CSC, Deloitte & Touche, Ernst &
Young, iXL, marchFIRST, and Sapient.
OEM/Reseller
During the third quarter, Interwoven announced an OEM and reseller program.
Under this new program, ATG and BEA join Microsoft in initiative to accelerate
eBusiness application development through integration of Interwoven content
management solutions. For more details, see earlier release at http://www.interwoven.cn/press/1003oempr.html .
Interwoven, Inc. (Nasdaq: IWOV) is the leading provider of enterprise-class
content management software. Its flagship product, TeamSite, controls the development,
management and deployment of business-critical Web sites. Interwoven solutions
are based on an inclusive content architecture that empowers all content contributors
and leverages diverse Web assets including XML, Java, rich HTML, multimedia
and database content. For more information on the company and its software solutions,
visit the Interwoven Web site at www.interwoven.cn or e-mail info@interwoven.com
This press release contains "forward-looking" statements, including
projections about our business, within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934. For example,
statements in the future tense, and statements including words such as "expect",
"plan", "estimate", "anticipate" or "believe," are forward-looking statements.
These statements are based on information available to us at the time of the
release; we assume no obligation to update any of them. The statements in this
release are not guarantees of future performance. Actual results could differ
materially from our current expectations as a result of numerous factors, including
our limited operating history, which makes it difficult to predict future performance,
the fact that our market is new and customer acceptance of our products is not
proven, and special difficulties associated with international expansion. These
and other risks and uncertainties associated with our business are detailed
in our annual report on Form 10-K and subsequent Forms 10-Q, which are on file
with the SEC and available through www.sec.gov .
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