Netegrity reported its fourth consecutive quarter of profitability in the second quarter of 2001 with net income of $3.1 million or $0.09 per diluted share, as compared to a net loss of ($106,000), or ($0.00) per share for the quarter ended June 30, 2000.
License revenue from the Company’s SiteMinder family of products was $16.1 million increasing 134% from $6.8 million for the corresponding quarter in 2000.
For the six months ended June 30, 2001, revenue increased 195% to $50.8 million as compared to $17.2 million for the six months ended June 30, 2000. The Company reported net income for the first six months of 2001 of $6.5 million or $0.19 per diluted share, as compared to a net loss of ($1.0) million or ($0.04) per share for the same period in 2000
I am extremely pleased that we delivered on our commitments and again achieved very solid financial results in a difficult economic environment, said Barry Bycoff, chairman and CEO of Netegrity. Our organization is very well positioned at the core of the mission critical projects that create operational efficiencies and reduce costs for our customers.
Netegrity further extended its market leadership as evidenced by strong follow on sales and the addition of many significant new name customers. The company signed agreements with 52 new customers, bringing the total number of customers to 431. New customers in Q2 included Allfirst, Cargill, Inc., CIBC, Delta Dental Plan of Michigan, Domino’s Pizza, the Internal Revenue Service (IRS), Manpower, Inc., Master Bit, medibuy, Mellon Financial Corporation, Mobistar, Options Clearing Corporation, Riverside Health System, and TNT Logistics. Netegrity also had 49 follow on software deals with existing customers, indicating the success customers are achieving with Netegrity’s leading solution and the quality of the Company’s product suite.
SOURCE: COMPANY PRESS RELEASE
