Revenue of $11.7M resulted in earnings per share of $0.04
January 28, 2003
BETHESDA, Md. -- OPNET Technologies, Inc. (Nasdaq:OPNT), the leading provider of Intelligent Network Management software, today announced financial results for its fiscal quarter ended December 31, 2002. Revenue for the quarter ended December 31, 2002 was $11.7 million compared to $11 million for the same quarter in the prior year. Earnings per share for the third quarter were $0.04 on a diluted basis, compared to $0.06 in the comparable quarter of fiscal 2002.For the nine months ended December 31, 2002, revenues were $34 million compared to $33.4 million for the same period in the prior year. Earnings per share for the nine months ended December 31, 2002 were $0.09 on a diluted basis, compared to $0.17 in the comparable period ended December 31, 2001.OPNET Chairman & CEO, Marc A. Cohen, stated, "We are very pleased to report a strong quarter for Fiscal Q3. We achieved record deferred revenue, continued to generate cash from operations, controlled costs, and strengthened our backlog and visibility. However, we remain conservative in our outlook in what continues to be a challenging economic environment."Fiscal Fourth Quarter Financial Outlook:OPNET expects fiscal fourth quarter revenue to be between $11.4 and $11.9 million, and diluted earnings to be between 2 and 4 cents per share.Financial Highlights for the Third Quarter of Fiscal Year 2003:
Increased revenue 4.7% sequentially in a challenging economy.
Increased deferred revenues to a record $9.7 million, from $8.8 million at the end of the second quarter of fiscal 2003.
Generated $2.2 million in cash flow from operations.
Reduced DSOs 2 days from September 30, 2002 to 64 days as of December 31, 2002.
Increased cash to $68 million, up $2.3 million from September 30, 2002.
Selected as one of the 200 Best Small Companies in America by judges at Forbes Magazine, based on financial performance.
Released version 9.0 of several platform products, including IT Guru, Modeler, SP Guru, and Netbiz/ODK.
Co-hosted OPNETWORK2002 Tokyo with partner E3 Networks (owned by Mitsui & Co.); achieved record attendance from the enterprise IT community in Japan.
Awarded re-compete contract by Department of Defense for NETWARS project, providing for a 5-year period of performance, an initial $2.2 million dollars for 2003, and four additional option years.
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