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Marimba Q2 sees 87 per cent growth

Loss in line with Wall Street expectations

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Erstwhile push technology pioneer Marimba, now recast as an e-business software provider, yesterday reported its first financial results as a public company. Marimba launched its IPO last February. Marimba posted a loss of $1.5 million on revenues of $6.9 million, an increase of 87 per cent on last year's $3.7 million revenue, it claimed. For the same period last year, the company lost $1.2 million. That said, this time round it took a $451,000 hit for deferred stock compensation -- without that Marimba's loss would have fallen year-on-year. Naturally, Marimba was "pleased" with its revenue growth, according to its photogenic president and CEO, Kim Polese. She should be. Marimba has done rather well to survive the collapse of the massively hyped push technology market, largely by repurposing its Java-based information delivery system into a corporate network-oriented applications delivery system. It also survived attempts by Microsoft to make its "life difficult". ®

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