Commerce One Loss Widens in 4th Quarter
Commerce One Inc., a Pleasanton, Calif.-based maker of software for buying goods over the Internet, said its fourth-quarter loss widened as sales fell. The company will cut its 700-person workforce to 300 by the end of March.
The net loss widened to $279.5 million, or $9.57 a share, from $168.3 million, or $5.90, a year earlier, the company said. Sales dropped 65% to $19.5 million.
After the job cuts, the company will focus primarily on a new product that lets a company connect its software with suppliers and customers.
Commerce One shares fell 12 cents to $2.58 on Nasdaq but rose to $2.81 in extended trading after the announcements.
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