WebMethods Inc. / WEBM

About WebMethods Inc.

3877 Fairfax Ridge Rd., South Tower, Fairfax, Va. 22030
www.webmethods.com | 703-460-2500 | Founded: 1996

Industry: Information Technology | Category: Public Companies

David Mitchell's first full year as chief executive of WebMethods was not a particularly easy one.
Mitchell moved into the company's top spot in October 2004 when longtime chief executive Phillip Merrick resigned. The upheaval continued in May 2005, when longtime chief financial officer Mary Dridi resigned. Dridi was replaced in October 2005 by Mark Wabschall, the former chief accounting officer.
The company also made a few other executive changes. In November, Richard P. Chiarello was promoted to chief operating officer. Chiarello joined WebMethods in 2004 as its vice president of worldwide operations. In January of this year, WebMethods named Marc Breissinger chief technology officer. He had been the company's chief architect.
The firm's bottom line improved in 2005. For the three quarters ended Dec. 31, WebMethods earned $7.6 million (14 cents a share), compared with a $14.9 million (28 cents) loss in the comparable period a year earlier. The company's revenue for the nine-month period rose to $149.4 million from $147.7 million. The growth was due partly to the headway WebMethods has made in the government market, which now makes up about 20 percent of its revenue.
Last month, it settled a breach-of-contract lawsuit brought by Defywire, a Herndon wireless technology company. Terms were not disclosed.

President and CEO: David Mitchell

2005 Financial Data

Revenues: $200,601,000 | Net Income: $-18,751,000
Asssets: $275,344,000 | Earnings Per Share: $-0.35
Total employees: 833 | Local employees: 290