TrendWatch Blog
Vignette announces numbers, resignations
25-Jan-2008Let's peek back into ECM/WCM vendor Vignette following last week's speculation about the company's financials. Today I'll offer just the facts, without interpretation.
Vignette Corporation filed its 2007 financial statements yesterday with the SEC. Not unexpectedly, the company's official press release puts as positive a spin on the numbers as possible, but the data speaks for itself:
- Total revenue for fiscal year 2007 was $191.8 million, down 3% from fiscal year 2006.
- Year-over-year license revenue: down 15.5%.
- Year-over-year services revenue: up 3.5%.
- R&D spending: down 8.9%.
Release of Vignette's latest financial statements coincides with the resignation of two top executives. According to a report on CRN.com's Australian site, Graham Pullen, Vignette's Asia Pacific VP and General Manager, is leaving to pursue other opportunities. In addition, Leo Brunnick (Vignette Senior VP, Products and Marketing) is resigning as of today. (His intention to resign had been announced in an SEC filing on January 10.)
Coincidentally, Vignette's Compensation Committee approved severance agreement changes for its senior executives on January 18. The relevant SEC filing notes: "These changes were not made in anticipation of any event, but, instead, were made in order to bring conformity among the severance protection agreements within the senior vice presidents and vice presidents."
- Submitted by: Kas Thomas, Analyst
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