Sponsored By

Opnet Reports on Q3

Revenue for the quarter was $10,973,000, an increase of 26% over the same quarter in the prior year

January 30, 2002

2 Min Read

BETHESDA, Md. -- OPNET Technologies, Inc. (Nasdaq: OPNT), the leading provider of intelligent network management software, today announced financial results for its third fiscal quarter ended December 31, 2001. Revenue for the quarter was $10,973,000, an increase of 26% over the same quarter in the prior year. Pro forma net income for the quarter, excluding the amortization of acquired technology, was $1,280,000, or $0.06 per share on a diluted basis, as compared to net income of $1,144,000, or $0.06 per share on a diluted basis, in the comparable quarter of fiscal year 2001. Reported net income for the quarter, including the amortization of acquired technology, was $1,222,000, or $0.06 per share on a diluted basis, as compared to $1,144,000, or $0.06 per share on a diluted basis, in the comparable quarter of fiscal 2001. Revenues derived from software licenses grew to $6,807,000 in the third quarter of fiscal year 2002 from $5,106,000 in the same quarter of the previous fiscal year, representing an increase of 33%. Revenues derived from services grew to $4,166,000 in the third quarter of fiscal 2002 from $3,629,000 in the same quarter of the previous fiscal year, representing an increase of 15%. For the nine months ended December 31, 2001, revenues were $33,378,000, a 46% increase over the $22,939,000 reported for the first nine months of the previous fiscal year. Pro forma net income for the nine months, excluding the amortization of acquired technology, grew to $3,659,000, or $0.18 per share on a diluted basis, compared to $2,103,000 or $0.12 per share on a diluted basis, for the comparable period ended December 31, 2000. Reported net income for the nine months ended December 31, 2001, including the amortization of acquired technology, was $3,459,000, or $0.17 per share on a diluted basis, as compared to $2,103,000, or $0.12 per share on a diluted basis, in the comparable period ended December 31, 2000. "We are pleased to present strong results for the quarter, including solid year-over-year growth and continued profitability," stated Marc Cohen, Chairman and CEO of OPNET Technologies, Inc. "We expected to present record financial results for the quarter, but due to Global Crossing's bankruptcy announced on 28 January we are reducing revenue by $1.1 million. Enterprise accounts now represent the largest contributor to revenue and we see this market as a significant driver of our growth moving forward." Opnet Technologies Inc.

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like