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<PAGE>
EXHIBIT 99.1
ART TECHNOLOGY GROUP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(UNAUDITED)
<TABLE>
<CAPTION>
Three Months Ended Nine Months Ended
-------------------------- --------------------------
September September September September
30, 30, 30, 30,
2000 1999 2000 1999
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
REVENUES:
Product license $ 34,233 $ 4,461 $ 74,291 $ 9,372
Services 12,077 3,679 26,220 9,421
------------ ------------ ------------ ------------
Total revenues 46,310 8,140 100,511 18,793
------------ ------------ ------------ ------------
COST OF REVENUES:
Product license 908 6 2,481 23
Services 10,084 2,602 21,973 6,646
------------ ------------ ------------ ------------
Total cost of revenues 10,992 2,608 24,454 6,669
------------ ------------ ------------ ------------
Gross profit 35,318 5,532 76,057 12,124
------------ ------------ ------------ ------------
OPERATING EXPENSES:
Research and development 4,762 1,710 12,452 4,233
Sales and marketing 20,531 4,097 45,922 8,134
General and administrative 5,836 1,292 14,525 3,150
Amortization of deferred compensation 278 304 886 823
------------ ------------ ------------ ------------
Total operating expenses 31,407 7,403 73,785 16,340
------------ ------------ ------------ ------------
INCOME (LOSS) FROM OPERATIONS 3,911 (1,871) 2,272 (4,216)
INTEREST INCOME 2,298 561 6,699 682
INTEREST EXPENSE - (72) - (121)
------------ ------------ ------------ ------------
Net Income (loss) before provision 6,209 (1,382) 8,971 (3,655)
for income taxes
PROVISION FOR INCOME TAXES 1,200 - 1,700 -
------------ ------------ ------------ ------------
Net income (loss) 5,009 (1,382) 7,271 (3,655)
ACCRETION OF DIVIDENDS, DISCOUNT, AND
OFFERING COSTS ON PREFERRED STOCK - (3,908) - (4,395)
------------ ------------ ------------ ------------
Net income (loss) available for
common stockholders $ 5,009 $ (5,290) $ 7,271 $ (8,050)
============ ============ ============ ============
Basic net income (loss) per share $ 0.07 $ (0.10) $ 0.11 $ (0.27)
============ ============ ============ ============
Shares used in computing basic net
income (loss) per share 67,254 52,908 67,055 30,354
============ ============ ============ ============
Diluted net income (loss) per share $ 0.07 (0.10) 0.10 (0.27)
============ ============ ============ ============
Shares used in computing diluted net
income (loss) per share 73,850 52,908 73,361 30,354
============ ============ ============ ============
</TABLE>
ART TECHNOLOGY GROUP, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
<PAGE>
(In thousands)
(UNAUDITED)
<TABLE>
<CAPTION>
September December
30, 31,
2000 1999
------------ ------------
<S> <C> <C>
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 70,065 $ 124,711
Marketable securities 63,965 5,137
Accounts receivable, net 33,001 12,539
Unbilled services 1,074 782
Prepaid expenses and other current assets 3,801 1,908
------------ ------------
Total current assets 171,906 145,077
Property and equipment, net 16,404 5,465
Long-term marketable securities 12,412 19,394
Intangible and other assets, net 15,560 7,799
------------ ------------
$ 216,282 $ 177,735
============ ============
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Current maturities of long-term obligations $ 2,250 $ 3,000
Accounts payable 11,850 11,285
Accrued expenses 18,454 4,728
Deferred revenue 17,179 8,337
------------ ------------
Total current liabilities 49,733 27,350
------------ ------------
Deferred income taxes 1,015 -
Long-term obligations, less current maturities 2,500 4,000
------------ ------------
Stockholders' equity 163,034 146,385
------------ ------------
$ 216,282 $ 177,735
============ ============
</TABLE>
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