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Ariba narrows loss to $31.5 million
Business software maker Ariba Inc. late Tuesday said it narrowed its fiscal third-quarter loss. Ariba said it lost $31.5 million, or 48 cents a share, compared to a loss of $288.7 million, or $4.52 a share, from the same period a year ago. Revenue fell 5.3% to $73.6 million. Excluding certain charges, Ariba said it would have earned $8.2 million, or 12 cents a share. On that basis, Ariba exceeded the expectations of analysts surveyed by Thomson First Call, who expected earnings of 3 cents a share on revenue of $76.1 million. Ariba shares fell almost 4% in trading after the results were released.
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