For the year, the company reported consolidated revenues of $503.3 million, an 82 percent increase over revenues of $276.8 million for 1999. Pro-forma net income (before amortization of intangibles, acquisition costs, stock-based compensation charges and other non-recurring charges) for 2000 was $57.7 million, or $0.43 per diluted share, compared to $36.0 million, or $0.29 per diluted share, for the year ended 1999. Net income (including the costs listed above) for the year totaled $47.0 million, or $0.35 per diluted share, compared to net income of $30.3 million, or $0.24 per diluted share, for the year ended 1999.
Consolidated revenues for the quarter ended December 31, 2000 increased 70 percent to $139.2 million from $81.8 million for the same period in 1999. Pro forma net income for the fourth quarter was $13.3 million, or $0.10 per diluted share, compared to $10.5 million, or $0.08 per diluted share, for the fourth quarter of 1999. Net income for the fourth quarter was $8.1 million, or $0.06 per diluted share, compared to net income of $9.5 million, or $0.07 per diluted share, for the fourth quarter of 1999.
As companies transition from looking at the Internet as a point solution to considering the competitive advantages that new technologies make possible throughout their enterprise, companies are turning to us, said Jerry A. Greenberg, Sapient’s co-chairman and co-chief executive officer. Over the last decade we’ve worked hard to remain the leader in providing clients with the complement of insights and capabilities needed to compete successfully.
Overall, we are satisfied with our financial results for the quarter, given the challenging environment, said Edward G. Goldfinger, Sapient’s chief financial officer. For the year, revenue and earnings growth were strong, and we generated approximately $100 million in cash flow from operations.
