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EXHIBIT 99.1
ACCRUE SOFTWARE REPORTS RECORD REVENUE AND PROFIT
FISCAL Q2 2001 REVENUE GROWS 183% YEAR-OVER-YEAR; PRO FORMA EPS $0.06
FREMONT, CALIF., -- OCT. 17, 2000 -- Accrue(R) Software, Inc.(NASDAQ: ACRU), the
leading provider of eBusiness analytic solutions for optimizing visitor response
to Web-based campaign, content, commerce and affiliate initiatives today
announced its tenth consecutive quarter of record revenues and its third quarter
of profitability (on a pro forma basis).
For the second quarter of its fiscal year 2001, ended September 30, 2000, Accrue
reported record revenues of $10.04 million, an increase of 183% over revenues of
$3.55 million for the quarter ended September 30, 1999, and an increase over
revenues of $9.75 million in the first quarter of fiscal year 2001 ended June
30, 2000. The Company reported record pro forma net income of $0.06 per share
for the second fiscal quarter compared to a pro forma net loss of ($0.06) per
share for the quarter ended September 30, 1999 and pro forma net income of $0.05
per share for the quarter ended June 30, 2000.
"In this quarter the market saw a dynamic transformation in the e-commerce arena
with a significant shift in momentum towards the established clicks-and-mortar
brands. Accrue made significant progress penetrating the key clicks-and-mortar
players with the addition of Kmart, macys.com, Vivendi and Target as new
customers that join our existing customers JC Penney, Wal-Mart, Lands' End and
Staples, to name a few," said Richard Kreysar, president and CEO of Accrue
Software. "We also saw excellent recurring revenue from our installed base of
leading eBusinesses which includes many of the leading dot-com and e-media
properties."
HIGHLIGHTS OF THE SECOND QUARTER IN FISCAL 2001:
- Accrue Insight 5 and the Campaign, Content, Commerce, and
Affiliate application modules began shipping in Q2. These
applications are built on the Insight platform and provide
eBusiness managers with customer acquisition, content
effectiveness, shopping behavior and partnership analytics.
These were complemented by bridges between the modules and
leading eCRM applications. The new products include Accrue
Insight Commerce for Oracle with Bridge to IBM WebSphere,
Accrue Insight Campaign for Oracle with Bridge to DoubleClick,
Accrue Insight Content Bridge for BroadVision and ATG and
Accrue Insight Commerce for Open Market's Marketing Studio
application.
- Accrue announced Accrue Hit List 4.6, which includes full
Windows 2000 support, a multi-platform Administration and
Report client, and significantly increased capacity to handle
the ever-increasing volume of visitor activity on rapidly
growing, successful Web sites. By adding full support for
Windows 2000, this release furthers Accrue's offering as the
most flexible, Windows-compliant analytics package available
today.
- Accrue closed the Pilot Software acquisition in late
September. This acquisition further enhances Accrue's leading
position in the eBusiness analytics market through the
addition of advanced reporting and Hybrid OLAP technology,
talented business intelligence developers and a world-class
global distribution channel. The next version of Accrue
Insight, to be released in calendar Q4 2000, will incorporate
Pilot's leading-edge technologies.
- Accrue signed partnership agreements with BroadVision and
Epicentric. These partnerships further solidify Accrue's
applications as best-of-breed in the eBusiness analytics
marketplace. BroadVision and Epicentric add to Accrue's
existing partnerships with other leading solutions vendors
including Art Technology Group, ABC Interactive, DoubleClick,
IBM, Informix, JDA, MarketFirst, Open Market, Oracle, Unica,
Vignette, and Xchange.
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- Accrue announced the addition of subscription-based pricing
for Accrue Hit List. This pricing structure will make Accrue's
products more accessible to the Fortune 1000 and new-economy
companies. Then, as their needs expand in parallel with the
growth of their business, they will be able to take advantage
of the upgrade path to Accrue Insight, an enterprise-class
product capable of handling over 75 million hits per day.
- In addition to the new clicks-and-mortar customers, new
customers in Accrue's other key markets including financial
services, high technology and e-media include NTT Japan, State
Street Bank, Zurich Financial Services, Canal NuMedia,
iFrontier and Dresdner Bank AG bringing our total number of
customers to over 1000.
- Accrue's international operations continued to ramp up in the
quarter. Accrue expanded its customer base in Japan through
its partnership with Sumisho Electronics which added Tsutaya
Online, NTT Japan, and Uchida Yoko to its customer list.
Accrue also announced the opening of four new offices and
territories in France, Germany, Benelux and Singapore and
multilingual customer support centers in Europe. The EMEA
Support Centers, located in the U.K. and Germany, will serve
the company's rapidly-expanding Europe, Middle East and Africa
customer base further extending the company's commitment to
providing world-class customer support.
- Accrue also ramped up worldwide distributors acquired through
the Pilot acquisition. Pilot's 50 distributors in Europe,
Latin America, Asia and Australia offer extensive expertise in
delivering Business Intelligence solutions and are now also
equipped to market and sell Accrue's complete eBusiness
analytics applications which include Accrue Hit List, Accrue
Insight and our analytics platforms which include Pilot,
Decision Series, and InfoCharger.
"We believe our technology lead will widen later this year with the expected
release of Accrue Insight 6.0," stated Kreysar. "This next generation platform
incorporates all our technology acquisitions into a single solution, further
solidifying our position as offering best-of-breed eBusiness analytics products.
This combination of best-of-breed applications, a sophisticated, growing
customer base numbering over 1000, and a profitable, scalable business model
distinguishes Accrue in the eCRM analytics market."
ABOUT ACCRUE SOFTWARE
Accrue Software is the leading provider of eBusiness analytic solutions for
optimizing visitor response to Web-based campaign, content, commerce, and
affiliate initiatives. Accrue's complete line of analytic applications offers
the ability to target the most profitable customers by understanding behavior
and purchasing trends for different visitor segments: Converting Clicks to
Customers(TM).
Accrue Software was founded in 1996 and has its headquarters in Fremont, Calif.,
regional sales offices throughout the US, and an international office in London,
England. Accrue has strategic partnerships with Art Technology Group, ABC
Interactive, BroadVision, DoubleClick, Epicentric, IBM, Informix, JDA,
MarketFirst, Open Market, Oracle, Unica, Vignette, and Xchange. Accrue Software
can be reached at 1-888-4ACCRUE or 510-580-4500 and at www.accrue.com.
# # #
Accrue, Accrue Insight, Hit List, Decision Series and Pilot Software are
trademarks of Accrue Software, Inc. All other trademarks are the sole property
of their respective owners.
# # #
Except for the historical information contained herein, the matters discussed in
the news release, including projections of future revenues and earnings, are
forward-looking statements that involve risks and uncertainties that could cause
actual results, future revenues or earnings to differ materially from those in
such forward-looking statements. These forward-looking statements are made only
as of the date of this press release, and Accrue undertakes no obligation to
update or revise the projections of revenue and earnings, or the other
forward-looking
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statements, whether as a result of new information, future events or otherwise.
Accordingly, you should not place undue reliance on these projections of future
revenue and earnings, and other forward-looking statements. Potential risks and
uncertainties include, without limitation, the Company's limited operating
history, history of losses, fluctuations in operating results, competition in
the eBusiness analysis market, reliance on sales from a single product for its
revenue, reliance on expanding sales operations and distribution channels and
potential difficulties associated with the integration of the personnel,
operations and products of Marketwave, NeoVista and Pilot with Accrue's
personnel, operations and products. These and other risk factors are described
in detail in the Company's Registration Statement on Form S-1, and in the
Company's other filings with the Securities and Exchange Commission.
# # #
CONTACT:
Accrue Software, Inc.
Deborah Haynes
510-580-4563
[email protected]
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