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Mercator Posts Q1 Results
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Business New Haven
5/13/2002
By: BNH
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WILTON - Mercator Software Inc. (NASDAQ: MCTR), a provider of business integration software solutions, reported results for the first quarter ended March 31. Total revenues for the period were $27.4 million, down five percent from the $28.7 million reported in first quarter of 2001. Licensing revenues of $9.5 million for the quarter were down 17 percent from the year-ago period. First quarter total pro forma expenses, excluding amortization of goodwill and intangible assets, a restructuring benefit, and stock option re-pricing charges/benefits, were $33.1 million, down 18.6 percent year over year and down two percent from the previous quarter. Pro forma earnings per share of 11 cents, versus 25 cents per share a year ago, were aided by the $7.6 million year-over-year reduction in total pro forma expenses. Total cash and marketable securities declined modestly by $0.1 million from the fourth quarter to $28.1 million.
Recent partnership announcements by Mercator include agreements with Logica France, a European systems integrator, Sogeti USA, a Cap Gemini company, and Omgeo LLC, a provider of complete global trade management services that is building a trade matching utility for Global Straight Through Processing.
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