Customer relationship management (CRM) software maker E.piphany Inc. could not counter a slowdown in technology spending in its fiscal fourth quarter despite strong customer wins in the period, according to a statement released Thursday after the close of the market.
E.piphany reported US$28.0 million in revenue for the fourth quarter ended Dec. 31. This is a significant drop from revenue of $49.2 million generated in the same period last year, the company said in a statement.
The company reported a net loss of $8.9 million for the fourth quarter, excluding charges taken as a result of compensation, restructuring and amortization of goodwill. These figures translate into a loss of $0.13 per share. Analysts polled by Thomson Financial/First Call predicted E.piphany would lose $0.17 per share in the period.
Including the charges, the company posted a net loss of $36.8 million or $0.53 per share.
The company is continuing to try to lower operating costs in a tough economy, according to a statement. E.piphany did manage to win the business of large companies such as Harley-Davidson Inc., Caterpillar Inc. and Cingular Wireless LLC.
For its full fiscal year, the company pulled in total revenue of $125.7 million -- almost even with its 2000 total of $127.3 million.