Vitria expects revenues for the third quarter to be in the range of $29 to $30 million. License revenues are expected to represent approximately 55% of the total, consistent with the mix in the company’s most recent quarters. Excluding non-cash charges relating to stock compensation and the acquisition of XMLSolutions, Vitria expects a pro forma net loss for the quarter in the range of $0.11 to $0.13 per share.

Like many software companies, our business was adversely impacted by continued economic deterioration and the tragic events of September 11, 2001, said JoMei Chang, president and CEO of Vitria. Despite this challenging environment, we believe that the combination of a leading product, broadly diversified customer base and a strong balance sheet of more than $170 million in unrestricted cash, positions us well for long-term growth and market leadership.

Vitria grew orders sequentially over the previous quarter. The company also successfully executed on its plan to diversify its business into new vertical markets. Energy represented approximately 30% of total orders in the third quarter, with healthcare and telecommunications each representing approximately 25% of total orders. The balance was primarily comprised of orders from customers in the financial services and manufacturing industries. Repeat orders from existing customers grew to 50% of total orders in the third quarter. Orders from international customers grew to 35% of total. As in the previous quarter, over 70% of customers were Fortune 1000 or Global 2000 companies.

SOURCE: COMPANY PRESS RELEASE