Commerce One, Inc. (Nasdaq: CMRC), which operates a network of online marketplaces, was up US$7 at $28.69 in early Friday trading after the company reported strong results for the fourth quarter.
Revenue for the quarter totaled $191.4 million, up from just $16.9 millionin the same quarter in 1999.
Before acquisition-related costs and othercharges, the company lost $10.8 million, or 5 cents per share, compared with$11.7 million, or 8 cents, in the year-earlier quarter. Analysts wereexpecting the company to lose 7 cents per share in the latest quarter.
The net loss, however, widened to $197.5 million, or 99 cents per share, from $28.8 million, or 20 cents, for the Pleasanton, California-based company.
Commerce One officials boosted their estimates for the currentfiscal year, according to published reports, because they see no signs of a slowdown in demand for e-marketplace services.
Chairman and chief executive officer Mark Hoffman of Commerce One said the results reflect the significant and continuing demand for e-marketplaces. The company said it added 89 new customers during the fourth quarter, for atotal of 504. Agreements were signed with Covisint and Trade-Ranger, and thecompany now operates 141 online marketplaces, 67 of them currentlyoperational.
In addition, the company signed new or expanded alliances with Microsoft,Intel, Sun Microsystems, Hubstorm, Vastera and NetVendor.
These alliances have the potential to significantly increase the number of companies accessing the Commerce One Global Trading Web, and “demonstrate thecompany’s ongoing strategy to provide an open platform and broad choices for customers,” Commerce One said.