Press Relations

Be Press Releases

Be Product Information

Executive Profiles

Company Background

Be in the News

Photos and Images

For more information, contact: Be Incorporated Guillaume Perrotin, 650/462-4100 investors@be.com Be Incorporated Reports Fourth Quarter Results Anticipates Revenues In 2001 MENLO PARK, Calif. -- Jan. 24, 2001 -- Be Incorporated (Nasdaq:BEOS) today reported financial results for the quarter ended December 31, 2000. The Company reported a net loss for the quarter of $0.13 per share excluding non-cash expenses associated with the amortization of deferred compensation. The Company had previously reported a comparable net loss of $0.12 per share for the third quarter of this year and a net loss of $0.14 per share for the fourth quarter of last year. Including non-cash expenses associated with the amortization of deferred compensation, net loss per share for the fourth quarter this year was $0.15 per share. The Company reported a net loss for the year ended December 31, 2000 of $0.52 per share excluding non-cash expenses associated with the amortization of deferred compensation. The Company had previously reported a net loss of $1.06 per share for the year ended December 31, 1999. Including non-cash expenses associated with the amortization of deferred compensation, net loss per share this year was $0.60 per share. Revenues were $16,000 for the quarter and $480,000 for the year. Revenues were primarily attributable to shipments of BeOS, the desktop version of our operating system, under publisher agreements with Gobe Software, Hitachi, Koch Media and Apacabar. ``We knew our decision to focus on BeIA, the complete solution for Internet appliances, and our decision to make a personal edition of BeOS available for free would negatively impact our revenues in 2000,'' said P.C. Berndt, Chief Financial Officer. ``We plan to recognize revenues in 2001 from each component of BeIA - the Client Platform, Integration Services and MAP (Management and Administration Platform). In 1999, we recognized $2.7 million in revenue and we plan to exceed that in 2001 as we begin to benefit from the investments we have made over the past year.'' ``Be made significant investments during 2000 in developing its core product, BeIA, and establishing numerous strategic relationships,'' said Jean-Louis Gassée, Chairman and CEO. ``The culmination of our efforts was the introduction at the Consumer Electronics Show earlier this month of a network entertainment center device by our first major customer. We look forward to continuing to establish ourselves as the technological and thought leader in the Internet appliance marketplace.'' Forward Looking Statements Statements contained in this Press Release that are not historical facts are ``forward-looking statements'' including without limitation statements regarding the size and breadth of the Internet appliance market; the development of related revenue opportunities; future market penetration and market acceptance of BeIA; the shipment dates of Be's products and the dates when Be may recognize the revenues associated with such shipments; and the future operating results of Be Incorporated. Actual events or results may differ materially as a result of risks facing Be Incorporated or actual results differing from the assumptions underlying such statements. Such risks and assumptions include, but are not limited to, risks related to the speed of development and establishment of the Internet appliance market and the related revenue opportunities; the demand for, and our ability to meet the product and service needs of Internet appliance customers; market acceptance and market penetration of Be's products and services; our ability to establish and maintain strategic relationships; the availability of third party software and hardware for use with Be's products; and the benefit of Be's products to OEMs, Internet appliance manufacturers and other customers. All forward-looking statements are expressly qualified in their entirety by the ``Risk Factors'' and other cautionary statements included in Be Incorporated's Annual Report on Form 10-K for the year ended December 31, 1999, and other public filings with the Securities and Exchange Commission. About BeIA: The Complete IA Solution BeIA consists of three components; the BeIA Client Platform, the BeIA Management and Administration Platform (MAP), and BeIA Integration Services. This integrated package of small footprint client-side software; development, customization and device management tools and services; and key services and third party technology, delivers a complete Internet appliance solution to device and service providers, including consumer electronics companies. About Be® Founded in 1990, Be Incorporated creates software platforms that enable rich media and web experiences on personal computers and Internet appliances. Be's headquarters are in Menlo Park, California, and its European office is in Paris, France. It is publicly traded on the Nasdaq National Market under the symbol BEOS. Be can be found on the web at http://www.be.com/. BE INCORPORATED CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands; unaudited) December 31, December 31, ASSETS 2000 1999 ---- ---- Current assets: Cash, cash equivalents and short term investments $ 14,057 $ 29,129 Accounts receivable, net 26 167 Prepaid expenses and other 549 730 --------- --------- Total current assets 14,632 30,026 Property and equipment, net 391 562 Other assets 1,048 1,722 --------- --------- Total Assets $ 16,071 $ 32,310 ========= ========= LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 362 $ 860 Accrued expenses 1,502 1,550 Technology license obligations 454 777 Deferred revenue 109 99 --------- --------- Total current liabilities 2,427 3,286 Technology license obligations 320 597 Total stockholders' equity 13,324 28,427 --------- --------- Total Liabilities and Stockholders' Equity $ 16,071 $ 32,310 ========= ========= BE INCORPORATED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts; unaudited) Three Months Ended Year Ended December 31, December 31, 2000 1999 2000 1999 Net revenues $ 16 $ 1,035 $ 480 $ 2,656 Cost of revenues 327 740 1,097 1,436 --------- --------- --------- --------- Gross profit (loss) (311) 295 (617) 1,220 Operating expenses: Research and development 2,266 2,332 8,345 8,502 Sales and marketing 1,590 2,489 7,166 9,274 General and administrative 898 746 3,567 2,506 Amortization of deferred stock compensation 416 1,259 2,613 6,233 --------- --------- --------- --------- Total operating expenses 5,170 6,826 21,691 26,515 --------- --------- --------- --------- Loss from operations (5,481) (6,531) (22,308) (25,295) Other income, net 219 372 1,156 789 --------- --------- --------- --------- Net Loss $ (5,262) $ (6,159) $(21,152) $(24,506) ========= ========= ========= ========= Net loss attributable to common stockholders $ (5,262) $ (6,159) $(21,152) $(24,798) ========= ========= ========= ========= Basic and diluted net loss per share $ (0.15) $ (0.18) $ (0.60) $ (1.41) ========= ========= ========= ========= Shares used to compute basic and diluted net loss per share 35,928 33,949 35,533 17,589 ========= ========= ========= ========= Net loss per share excluding amortization of deferred compensation $ (0.13) $ (0.14) $ (0.52) $ (1.06) ========= ========= ========= =========

About Be, Inc. | Be Products | World of Be | BeOS Support | Jobs | Developers | Press | Partners | Investors

Copyright © 2001 by Be, Inc. All rights reserved. (Legal Info)
Comments, questions, or confessions about our site? Please write the Webmaster!