For the quarter, Ulticom had record sales of $15,201,000, an increase of 100% over sales of $7,607,000 in the fourth quarter of fiscal 1999. The Company posted record net income of $4,094,000 ($0.09 per diluted share), an increase of 642% when compared with $552,000 ($0.02 per diluted share) for the fourth quarter of fiscal 1999.
Sales for fiscal year 2000 were $47,441,000, an increase of 84% over fiscal year 1999 sales of $25,831,000. Net income for fiscal year 2000 was $9,077,000 ($0.22 per diluted share), an increase of 477% over the net income for fiscal 1999 of $1,574,000 ($.05 per diluted share).
Shawn Osborne, President and CEO of Ulticom, Inc. stated, Ulticom has faced rapidly changing technology and market forces, and delivered record results. There is a premium placed on products like Signalware that most easily integrate into existing networks and enable value added services with high revenue potential. Signalware allows our customers to rapidly bring to market these revenue generating services, based on today’s globally accepted circuit switched network standards. In addition, we give our customers the capability to seamlessly transition to the next generation wireless and wireline packet (IP) softswitch systems that provide additional functionality and cost advantages over legacy solutions. We continue to find new uses and increasing demand for our service enabling software as communication equipment and service providers worldwide seek to differentiate their product offerings and address emerging business opportunities.
The Company ended the quarter with cash, cash equivalents and short-term investments of $208,880,000, working capital of $195,369,000, total assets of $232,187,000 and stockholders’ equity of $207,049,000.
SOURCE: COMPANY PRESS RELEASE
