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

Analytics vs. Instincts

Analytics vs. Instincts

Even for the savviest marketers, finding the right balance of analytics and gut instincts can prove to be difficult.

MeritDirect Opens San Jose Office

MeritDirect Opens San Jose Office

A force in direct mail, the company looks to expand its digital data services with a footprint in Silicon Valley.

Neustar Decides to Hand Data Over to its Clients

Neustar Decides to Hand Data Over to its ...

AK Media Insights Pro turns data over to marketers to create business-specific aggregations, integrate offline efforts, and probe deeper into their sales funnels.