Pro forma net income for the quarter, which excludes the amortization of goodwill, employee stock compensation, purchased in process R&D and one-time acquisition-related charges, was $1.0 million, or $0.01 per share compared to a pro forma net loss of $4.0 million, or a pro forma net loss of $0.04 per share in the first quarter of the previous year.
Inktomi’s Network Products business, consisting of the Traffic Server(R) platform, Content Delivery Suite(TM), Media Products and associated services, contributed $54.2 million in revenue for the quarter, a 145 percent gain over the first quarter of the prior year. Inktomi’s Portal Services business, comprised of its Search Solutions and Commerce businesses, generated $26.3 million in revenue, an 88 percent increase over the comparable period in the last year. The Search business contributed $21.2 million in revenue, a 100 percent increase over the first quarter of the prior year, and Inktomi’s Commerce business contributed $5.1 million in revenue in the quarter. The company ended the quarter with $311.1 million in cash, cash equivalents, restricted cash and short-term investments.
In October 2000, Inktomi completed the acquisition of FastForward Networks, developers of the first scalable software technology for the distribution and management of live broadcasting over the Internet. The transaction was accounted for as a pooling of interests. Historical results have been adjusted to reflect the combined companies. We had a quarter that was underscored by new design wins, expanded market share and increased traction into new areas, said David Peterschmidt, president and CEO of Inktomi. While our business was and will be affected by macro-economic conditions in the near-term, we are confident that we have the business strategy, product depth and financial strength to steer through the current market conditions and emerge as the leading software infrastructure provider for networks and enterprises worldwide over the long-term.
