Legato Announces Second Quarter Results

Tuesday Jul 24th 2001 by Network Storage Forum Staff
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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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