German e-business vendor Brokat Infosystems AG blamed costs of $3.2m incurred in its mid-September initial public offering (CI No 3,498) as the main reason for the $2.63m loss it reported yesterday for the first quarter of its 1998-99 fiscal year. Despite the loss, the company said that the net result had actually been better than it had been expecting. It also mentioned the progress it is making on its international expansion plan. This has included a partnership with US cash management solution provider TST, which has become a strategic platform partner, dovetailing its software into Brokat’s Twister e-business plan. The company is also expanding beyond its traditional customer base of banks and brokerage firms, moving into sectors such as telecoms and healthcare, where e-commerce is entering as part of an increasingly competitive environment.
