Vastera says first quarter revenues flat

Vastera says first quarter revenues flat

Vastera, a provider of global trade management systems, said total revenues for the first quarter were $20.9 million, which were equivalent to revenues in the same period last year and the previous quarter.

Managed services revenues for the first quarter were $14.2 million, up 4 percent over last year and 2 percent sequentially.

The company's said its net loss for the first quarter was $959,000, compared to a net loss of $878,000 in the same quarter last year. The pro forma loss for the quarter was $601,000, compared to pro forma earnings of $323,000 in the same quarter last year.

Vastera said it closed 14 deals in the quarter, eight with new clients and six with existing clients. Of the 14 deals, eight were software/managed services, and six were trade management consulting. Deals signed in this quarter included those with Ricoh, Logica, Tibbett & Britten, and Cargill.

The company said that for the second quarter ending June 30, revenues are expected to range from approximately $20.2 to $20.7 million. Vastera said results are in the range of guidance the company previously provided for 2004, which was revenues of approximately $80-$85 million, and a pro-forma earnings per share loss of approximately eight to 13 cents a share.