Onyx revenues slip

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Revenues are on the decline at Onyx Software. For its fourth quarter revenue slid to $19.2 million, compared with $35.7 million in the same quarter of 2000. Licence sales accounted for $6.5 million dollars while $12.6 million came from services. In the fourth quarter of last year, license revenue was $22.3 million, and revenue from services was $13.4 million. Onyx alo saw a net loss of $10.1 million, or 23 cents a share, including restructuring charges, compared with a loss of $2.8 million, or 8 cents a share. The company laid off 160 employees during the quarter. In the coming months the company hopes its fortunes will be revived with the release of Onyx 4.0, the next major upgrade of its CRM suite. The suite will be optimised for Oracle, Unix, SQL, and Windows databases. In addition, Onyx will release two new renditions of its Onyx Partner Portal, partner-relationship management application.


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