Revenue for the quarter was a record $11.1 million, an increase of 73% over the same quarter of the prior year and 11% over the immediately preceding fourth quarter of fiscal 2001. Pro forma net income for the quarter, excluding the amortization of acquired technology, was $1,235,000, or $0.06 per share on a diluted basis, as compared to net income of $224,000, or $0.02 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 $1,175,000, or $0.06 per share on a diluted basis.
Revenues derived from software licenses grew to $6.5 million in the first quarter of fiscal year 2002, from $3.7 million in the same quarter of the previous fiscal year, representing an increase of 79%. Revenues derived from services grew to $4.6 million in the first quarter of 2002 from $2.8 million in the same quarter of the previous fiscal year, representing an increase of 65%.
We are pleased to report another quarter of record-setting financial results, despite a challenging economic climate in the communications industry, said Marc Cohen, OPNET’s Chairman and Chief Executive Officer. Although some sales prospects postponed orders last quarter due to budgetary constraints, overall demand for our products remains strong. As service providers, enterprises, and manufacturers strive for profitability, OPNET products are becoming more essential for the design, delivery, and ongoing management of network services and applications. Our intelligent software enables our customers to achieve better performance with limited resources by automating complex tasks that would otherwise be time-consuming or impossible. Our exceptional growth in this environment demonstrates our technology leadership and the value we deliver to our customers.
SOURCE: COMPANY PRESS RELEASE
