Total revenue for the first quarter of fiscal 2002 was $27.5 million, an increase of 30% over the same quarter of fiscal 2001. Software license revenue for the first quarter of fiscal 2002 increased to $14.5 million, up 25% over the same quarter a year ago. License revenue from the distributed systems products was $2.5 million, up 260% from the first quarter a year ago and represented 17% of license revenue, up from 6% in the same quarter a year ago. Maintenance revenue for the first quarter of fiscal 2002 increased to $10.5 million and operating income before amortization of intangible assets for the first quarter increased to $10.5 million, up 51% over last year’s corresponding quarter.
Net income and net income per diluted share for the first quarter of fiscal 2002, excluding amortization of intangible assets, increased 53% to $8.0 million and 54% to $0.20, respectively, compared to net income and net income per diluted share of $5.2 million and $0.13 in the same quarter a year ago. Including amortization of intangible assets, net income and net income per diluted share increased 26% to $5.9 million and 25% to $0.15, respectively, as compared to $4.7 million and $0.12 in the same quarter a year ago.
We are extremely pleased to have delivered record results for the first quarter, particularly in this economic environment, said Mark Woodward, CEO and President. I believe we have made great progress in our sales operations and am confident that the actions we took last quarter will continue to benefit us going forward. In addition to the strong performance in international and distributed systems revenues, we sold the first license for our recently delivered Web Content Management product Serena ChangeMan WCM.
SOURCE: COMPANY PRESS RELEASE
