[BusinessTeam] FT.com News and Analysis World Article.htm

Message-ID: <6B75EF096AE0BE428B8CEDEA89C5F6327823A6@exchange01.lab49.com> · Wed Apr 11 13:45:26 2001 UTC

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Vignette upbeat on forecast
By Andrew Heavens in San Francisco
Published: April 9 2001 17:28GMT | Last Updated: April 9 2001 22:52GMT

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Vignette, the e-commerce software company, brought some rare cheer to its
troubled sector on Monday when it said its first-quarter results would
edge past Wall Street forecasts. 

The company's shares rose as much as 13 per cent on the news which stood
in stark contrast to a string of warnings from rivals, including
Broadvision, last week. 

Greg Peters, chief executive, told analysts that the company had spotted
the US economic slowdown earlier than many of its competitors. It was now
reaping the rewards of a series of cost cuts imposed in January, when it
last trimmed forecasts. 

Mr Peters said he would hold off from making forecasts for the rest of the
year until the company reported results later this month. 

Vignette said it expected to lose 1 cent a share, excluding one-time
items, on about $90m in revenues. Analysts polled by Thomson
Financial/First Call had forecast a loss of 2 cents on $83m in sales. 

Vignette said the $90m in revenues was slightly lower than its own
internal forecast for the quarter. 

Shares in the group closed up 8 per cent, or 32 cents, to $4.19, well
below the $70 the shares reached this time last year. 

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