BroadVision Sees Wider 2nd-Quarter Loss

BroadVision Inc. warned of a wider-than-expected second-quarter loss, announced the resignation of its chief financial officer and said it has cut nearly a third of its work force to counter the effects of the technology slowdown.

BroadVision, which makes software that lets businesses sell their products and services via the Internet, said it has cut 695 workers, or 32% of the total, since March 31, more than double the work force reduction it announced in April.

Chief Financial Officer Randall Bolten, who is leaving, said BroadVision would take a second-quarter reorganization charge at least double the $30 million to $50 million it previously forecast. Bolten, who had been with the company since its start-up, will be replaced on an interim basis by corporate treasurer Terry Davis.

Redwood City, Calif.-based BroadVision said it expects to post a loss of 17 to 20 cents a share, on revenue of $52 million to $58 million. Analysts on average were expecting a loss of 11 cents on revenue of $84.8 million, according to First Call/Thomson Financial.

BroadVision shares fell 89 cents to $4.04 on Nasdaq.