Press Release 2001 - OPNET Reports Record Results for Q2 2002

OPNET Reports Record Results for Q2 2002

Software License Revenue up 53%
Thirteenth Consecutive Quarter of Revenue Growth
Gross Margins Increase to 86%

BETHESDA, MD - October 30, 2001 -- OPNET Technologies, Inc. (Nasdaq: OPNT), the leading provider of intelligent network management software, today announced financial results for its second fiscal quarter ended September 30, 2001.

Revenue for the quarter was a record $11.3 million, an increase of 45% over the same quarter in the prior year. Pro forma net income for the quarter, excluding the amortization of acquired technology, was $1,144,000, or $0.06 per share on a diluted basis, as compared to net income of $741,000, or $0.04 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 $1,062,000, or $0.05 per share on a diluted basis.

Revenues derived from software licenses grew to $6.6 million in the second quarter of fiscal year 2002 from $4.3 million in the same quarter of the previous fiscal year, representing an increase of 53%. Revenues derived from services grew to $4.7 million in the second quarter of 2002 from $3.5 million in the same quarter of the previous fiscal year, representing an increase of 36%.

For the six months ended September 30, 2001, revenues were $22.4 million, a 58% increase over the $14.2 million reported for the first six months of the previous fiscal year. Pro forma net income for the six months, excluding the amortization of acquired technology, grew to $2.4 million, or $0.12 per share on a diluted basis, compared to a net income of $965,000 or $0.06 per share on a diluted basis, for the comparable period ended September 30, 2000. Reported net income for the six months ended September 30, 2001, including the amortization of acquired technology, was $2.2 million or $0.11 per share on a diluted basis.

"Our profitable business model, repeat sales from our installed base, and consistent growth over the last 13 quarters demonstrate the compelling ROI of OPNET software," stated Marc Cohen, Chairman and CEO of OPNET. "OPNET products add a crucial layer of intelligence to traditional network design and management solutions. Our unique, advanced technology enables us to address the most difficult network performance and efficiency issues facing today's service providers, enterprises, manufacturers, and government agencies. We've successfully performed in a difficult economic climate by continuing to execute on our business plan in a disciplined manner."

Financial Highlights for the Second Quarter of Fiscal Year 2002

Increased total revenues by 45% over the comparable quarter in the prior year - a thirteenth consecutive quarter of growth.
Increased revenue contribution from licenses to 58% from 56% of total revenues for the comparable quarter in the prior year. Services made up the balance of the revenues for the quarter, of which more than half came from product maintenance and customer support.
Grew pro forma net income 54% to $1.1 million, compared to $741,000 in the second quarter of fiscal 2001.
Increased pro forma diluted earnings per share to $0.06 from $0.04 per share in the comparable period of the prior year.
Strengthened gross margins to 86%, compared to 84% reported in the comparable quarter last fiscal year.

Corporate Highlights for the Second Quarter of Fiscal Year 2002

Achieved record attendance levels at OPNETWORK 2001, the Company's fifth annual technology conference. OPNETWORK is the world's largest event for network design, modeling and management, with over 450 hours of sessions.
Acquired 20% interest in Comsof's subsidiary, WDM NetDesign. This strategic venture will focus on the development of WDM Guru, a new product unveiled at OPNETWORK 2001 that enables service providers to better plan, design, and evaluate optical transport networks.
Closed significant contracts for a new product, SP Guru.
Expanded our portfolio of models and modules, including UMTS for 3G wireless, and Advanced Server models for enterprise networks.
Announced significant new partnerships, including an OEM agreement with Sniffer Technologies that will expand our reach in the enterprise market, an alliance agreement with Juniper Networks to increase our penetration into service provider accounts, and an integration with CelPlan to extend our solutions for wireless service providers.
Continued international expansion to the United Kingdom, opening OPNET's second direct sales and support office in Europe.
Announced the availability of OPNET software under U.S. General Services Administration schedules program allowing for simplified acquisition of OPNET products by government agencies.

The Company will hold an investor conference call to discuss its second quarter performance today, October 30, 2001, at 5:00 P.M. Eastern Standard Time. Investors will be able to listen to the call by dialing 800-899-5685 in the U.S., or 212-676-4918 internationally, shortly before the scheduled starting time. Investors may also listen to the call at www.opnet.com or www.vcall.com by clicking on OPNT under "Today's VCalls." Investors are advised to go to the web site at least 15 minutes early to register, download, and install any necessary audio software. The webcast will be archived for seven days.

About OPNET Technologies, Inc.

Founded in 1986, OPNET Technologies, Inc. is the leading provider of intelligent network management software. The OPNET product suite combines predictive modeling and a comprehensive understanding of networking technologies to enable its customers to more effectively design and deploy networks, provision services, diagnose network and application performance problems, and predict the impact of network changes. For more information about OPNET and its products, visit www.opnet.com.

The statements contained in this press release that are not purely historical are forward-looking statements within the meaning the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding OPNET Technologies Inc.'s expectations, beliefs, intentions, or strategies regarding the future. All forward-looking statements included in this document are based upon information available to OPNET Technologies, Inc. as of the date hereof; OPNET Technologies, Inc. assumes no obligation to update any forward-looking statements it may make. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those projected. For a discussion of such risks and uncertainties, see the Company's reports filed with the Securities & Exchange Commission, including its Form 10-Q for the quarterly period ended June 30, 2001.

OPNET is a registered trademark of OPNET Technologies, Inc.

# # #

Note to editors: The word OPNET is spelled with all upper-case letters.

OPNET Technologies, Inc.
Pro Forma Consolidated Statements of Operations
(unaudited)
Note 1

Note 1 - The pro forma results exclude the amortization of acquired technology and the related income tax effect.

OPNET Technologies, Inc.
Consolidated Statements of Operations
(unaudited)

OPNET Media Contact:
Margarita Castillo
OPNET Technologies, Inc.
(240) 497-3000
Media@opnet.com
www.opnet.com

OPNET Investor Relations:
Mel Wesley
OPNET Technologies
(240) 497-3000
ir@opnet.com
www.opnet.com

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Press Releases Archived Press Releases 2001	OPNET Reports Record Results for Q2 2002 Software License Revenue up 53% Thirteenth Consecutive Quarter of Revenue Growth Gross Margins Increase to 86% BETHESDA, MD - October 30, 2001 -- OPNET Technologies, Inc. (Nasdaq: OPNT), the leading provider of intelligent network management software, today announced financial results for its second fiscal quarter ended September 30, 2001. Revenue for the quarter was a record $11.3 million, an increase of 45% over the same quarter in the prior year. Pro forma net income for the quarter, excluding the amortization of acquired technology, was $1,144,000, or $0.06 per share on a diluted basis, as compared to net income of $741,000, or $0.04 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 $1,062,000, or $0.05 per share on a diluted basis. Revenues derived from software licenses grew to $6.6 million in the second quarter of fiscal year 2002 from $4.3 million in the same quarter of the previous fiscal year, representing an increase of 53%. Revenues derived from services grew to $4.7 million in the second quarter of 2002 from $3.5 million in the same quarter of the previous fiscal year, representing an increase of 36%. For the six months ended September 30, 2001, revenues were $22.4 million, a 58% increase over the $14.2 million reported for the first six months of the previous fiscal year. Pro forma net income for the six months, excluding the amortization of acquired technology, grew to $2.4 million, or $0.12 per share on a diluted basis, compared to a net income of $965,000 or $0.06 per share on a diluted basis, for the comparable period ended September 30, 2000. Reported net income for the six months ended September 30, 2001, including the amortization of acquired technology, was $2.2 million or $0.11 per share on a diluted basis. "Our profitable business model, repeat sales from our installed base, and consistent growth over the last 13 quarters demonstrate the compelling ROI of OPNET software," stated Marc Cohen, Chairman and CEO of OPNET. "OPNET products add a crucial layer of intelligence to traditional network design and management solutions. Our unique, advanced technology enables us to address the most difficult network performance and efficiency issues facing today's service providers, enterprises, manufacturers, and government agencies. We've successfully performed in a difficult economic climate by continuing to execute on our business plan in a disciplined manner." Financial Highlights for the Second Quarter of Fiscal Year 2002 Increased total revenues by 45% over the comparable quarter in the prior year - a thirteenth consecutive quarter of growth. Increased revenue contribution from licenses to 58% from 56% of total revenues for the comparable quarter in the prior year. Services made up the balance of the revenues for the quarter, of which more than half came from product maintenance and customer support. Grew pro forma net income 54% to $1.1 million, compared to $741,000 in the second quarter of fiscal 2001. Increased pro forma diluted earnings per share to $0.06 from $0.04 per share in the comparable period of the prior year. Strengthened gross margins to 86%, compared to 84% reported in the comparable quarter last fiscal year. Corporate Highlights for the Second Quarter of Fiscal Year 2002 Achieved record attendance levels at OPNETWORK 2001, the Company's fifth annual technology conference. OPNETWORK is the world's largest event for network design, modeling and management, with over 450 hours of sessions. Acquired 20% interest in Comsof's subsidiary, WDM NetDesign. This strategic venture will focus on the development of WDM Guru, a new product unveiled at OPNETWORK 2001 that enables service providers to better plan, design, and evaluate optical transport networks. Closed significant contracts for a new product, SP Guru. Expanded our portfolio of models and modules, including UMTS for 3G wireless, and Advanced Server models for enterprise networks. Announced significant new partnerships, including an OEM agreement with Sniffer Technologies that will expand our reach in the enterprise market, an alliance agreement with Juniper Networks to increase our penetration into service provider accounts, and an integration with CelPlan to extend our solutions for wireless service providers. Continued international expansion to the United Kingdom, opening OPNET's second direct sales and support office in Europe. Announced the availability of OPNET software under U.S. General Services Administration schedules program allowing for simplified acquisition of OPNET products by government agencies. The Company will hold an investor conference call to discuss its second quarter performance today, October 30, 2001, at 5:00 P.M. Eastern Standard Time. Investors will be able to listen to the call by dialing 800-899-5685 in the U.S., or 212-676-4918 internationally, shortly before the scheduled starting time. Investors may also listen to the call at www.opnet.com or www.vcall.com by clicking on OPNT under "Today's VCalls." Investors are advised to go to the web site at least 15 minutes early to register, download, and install any necessary audio software. The webcast will be archived for seven days. About OPNET Technologies, Inc. Founded in 1986, OPNET Technologies, Inc. is the leading provider of intelligent network management software. The OPNET product suite combines predictive modeling and a comprehensive understanding of networking technologies to enable its customers to more effectively design and deploy networks, provision services, diagnose network and application performance problems, and predict the impact of network changes. For more information about OPNET and its products, visit www.opnet.com. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding OPNET Technologies Inc.'s expectations, beliefs, intentions, or strategies regarding the future. All forward-looking statements included in this document are based upon information available to OPNET Technologies, Inc. as of the date hereof; OPNET Technologies, Inc. assumes no obligation to update any forward-looking statements it may make. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those projected. For a discussion of such risks and uncertainties, see the Company's reports filed with the Securities & Exchange Commission, including its Form 10-Q for the quarterly period ended June 30, 2001. OPNET is a registered trademark of OPNET Technologies, Inc. # # # Note to editors: The word OPNET is spelled with all upper-case letters. OPNET Technologies, Inc. Pro Forma Consolidated Statements of Operations (unaudited) Note 1 Note 1 - The pro forma results exclude the amortization of acquired technology and the related income tax effect. OPNET Technologies, Inc. Consolidated Statements of Operations (unaudited) OPNET Media Contact: Margarita Castillo OPNET Technologies, Inc. (240) 497-3000 Media@opnet.com www.opnet.com OPNET Investor Relations: Mel Wesley OPNET Technologies (240) 497-3000 ir@opnet.com www.opnet.com

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