webMethods, Inc. (Nasdaq: WEBM) fell 15 5/8 to 98 1/8 Wednesday despite reporting a 360 percent increase in revenue and a smaller-than-expected loss for the quarter ended March 31st.
The Fairfax, Virginia-based webMethods said revenue for the fiscal fourth quarter rose to $10.4 million from $2.3 million, while the net loss before items totaled $6.3 million, or 21 cents a share, compared with analysts’ estimate of a 27 cent loss. The company added 36 new customers during the quarter, including Bell Atlantic Corp. and Lucent Technologies.
Shares of webMethods, which makes software for B2B marketplaces, had risen in the days ahead of the report. The company went public last February at $35 a share.