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Legato Announces Second Quarter Results
 

Legato Announces Second Quarter Results

Tuesday Jul 24th 2001 by Network Storage Forum Staff

Revenues up slightly from same quarter last year

Legato Systems, Inc., an enterprise storage management software vendor , today announced financial results for its second quarter 2001.

For the second quarter of 2001, the Company reported revenue of $62.5 million as compared to $61.0 million for the first quarter of 2001 and $58.3 million for the second quarter of 2000. Net loss, excluding merger-related and restructuring costs and a gain on the sale of an equity investment (net of tax), was $2.1 million as compared to a net loss of $2.8 million for the first quarter of 2001 and net income of $1.2 million for the second quarter of 2000.

For the six months ended June 30, 2001, the Company reported revenue of $123.6 million as compared to revenue of $118.8 million in 2000. Net loss, excluding merger-related and restructuring costs and a gain on the sale of an equity investment (net of tax), was $4.9 million as compared to net income of $1.6 million in 2000. Net loss, including merger-related and restructuring costs and a gain on the sale of an equity investment, was $20.6 million as compared to a net loss of $17.6 million in 2000. Diluted net loss per share was $0.23 as compared to a diluted net loss per share of $0.20 in 2000.

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