Business-to-business software maker Ariba reported a smaller quarterly loss compared to a year earlier when it announced results yesterday for the first fiscal quarter ended Dec. 31.
The Sunnyvale CA-based software maker said it had a net loss of $161.3 million, or 63 cents a share, compared to a net loss of $347.6 million, or $1.48 a share a year ago.
The company's revenues fell from $55.3 million this past quarter from $170.2 million a year ago.
“In light of the continued soft global economic environment, I am pleased with the solid results for the quarter,” Bob Calderoni, chief executive of Ariba, said in a statement. Calderoni said strong sales of the company's procurement software will position Ariba to break even, excluding special charges and other items, as early as June.