Like other suppliers and developers to the data warehousing and business intelligence market, it was a tough quarter for Brio Technology. Brio is reporting revenues of $29.1 million for the first quarter of fiscal 2002. This represents a decrease of approximately 12% from $33.0 million reported in the comparable fiscal 2001 quarter. Net loss for the quarter ended June 30, 2001 was $7.6 million or a loss of $0.26 per share compared to a net loss of $4.5 million, or a loss of $0.16 per share for the quarter ended June 30, 2000. Expenses in the quarter ended June 30, 2001, include $431,000 of severance costs related to restructuring in the marketing, sales and services organizations.

"In contrast to last quarter, we saw a distinct pullback in IT department spending this first fiscal quarter," says Brio CEO Craig Brennan, "Overall for Brio, this resulted in much lower than expected revenue for the quarter."

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