BroadVisionInc. (Nasdaq: BVSN) was down US$2.19 at $12.69 in morning trading Friday after missing analysts' targets for fourth-quarter 2000 growth.
Analysts at firms including Prudential Securities, CIBC World Markets and
First Union Securities reportedly downgraded their ratings on BroadVision (Nasdaq: BVSN) 
after the report.
While "aggressive growth and enhanced presence in global markets" resulted in higher expenses, "we feel good about the market and believe that we are well positioned for continued success," BroadVision president and chief executive officer Pehong Chen said.
The Redwood City, California-based maker of e-commerce software reported income before extraordinary items of $4.6 million, or 2 cents per share, for the fourth quarter ended December 31st. Analysts had expected per-share earnings of 5 cents. A year earlier, the company earned $8.1 million, or 3 cents.
Revenue for the quarter rose to $136.9 million from $43.7 million a year earlier.
Reports said company officials expect first-quarter revenue to be about even with or slightly higher than fourth-quarter sales. Management reportedly is sticking to its forecast for full-year 2001 revenue of $600 million to $630 million, up 42 to 45 percent.
BroadVision said it gained 107 new customers during the quarter, bringing the total to 1,169.
The company also formed some key alliances during the quarter, teaming up with Intel (Nasdaq: INTC)
Corp. to develop and market products based on BroadVision software and
Intel servers. The companies said they would commit substantial resources
to the venture, although terms were not disclosed.
BroadVision has also teamed with i2 Technologies to develop new e-commerce software products and services.
BroadVision shares are down from a 52-week high of $93.29, set last
March. The stock touched a low of $8.50 earlier this month.
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