WebMethods Reports Loss, Layoffs

Share this article:
WebMethods said Friday that it would be reporting a first quarter net loss and revenue of approximately $55 million falling short of its early estimates and reduce its workforce by 15 percent.


It expects to report a net loss for the quarter of $.09 to $.10 per share. Cuts in spending across all areas will also take place.


"These challenging economic times continue to affect our business," said Phillip Merrick, chairman and CEO of webMethods, Fairfax, VA. "The sales cycle is lengthening as customers continue to defer spending decisions, and the internal approval process is becoming even more complex. As such we are taking steps to realign our resources and adapt our business to the current economic environment, in order to maintain our leadership position in this market."


Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Data/Analytics

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Data/Analytics

One Third of Companies Fail to Measure Data Quality ROI

One Third of Companies Fail to Measure Data ...

Twenty percent of companies assume their data quality tools pay off, while another 10% doesn't monitor ROI at all.

Ensighten and Anametrix Unite in an Open Relationship

Ensighten and Anametrix Unite in an Open Relationship

Ensighten's purchase of the analytics company is about giving ultimate ownership of data to marketers, says CEO Josh Manion.

The Perils (and Positives) of Vanity Metrics

The Perils (and Positives) of Vanity Metrics

Experts break down the up- and downsides of popular vanity metrics, such as Facebook likes and Twitter followers.