OPNET Reports Results for Fiscal Q2 2003
- Operating Cash Flow of $2.5 million
- Revenue of $11.2 Million and EPS of $0.03
BETHESDA, MD - October 30, 2002 --OPNET Technologies, Inc. (Nasdaq: OPNT), the leading provider of intelligent network management software, today announced financial results for its fiscal quarter ended September 30, 2002. Revenue for the quarter ended September 30, 2002 was $11.2 million compared to $11.3 million for the same quarter in the prior year. Earnings per share for the second quarter was $0.03 on a diluted basis, compared to $0.05 in the comparable quarter of fiscal 2002.
For the six months ended September 30, 2002 and 2001, revenues were $22.4 million in both periods. Earnings per share for the six months ended September 30, 2002 was $0.05 on a diluted basis, compared to $0.11 in the comparable period ended September 30, 2001.
OPNET Chairman & CEO, Marc A. Cohen, stated, "Clearly we are still operating in very challenging economic conditions. However, we are pleased to report that our business remains strong. We generated $2.5 million dollars in cash flow from operations, controlled costs, and maintained our visibility and backlog. The largest contribution to Q2 again came from our corporate and government enterprise clients."
Fiscal Third Quarter Financial Outlook
We expect fiscal third quarter revenue to be
between $11.0 and $11.4 million and diluted earnings to be between
2 and 4 cents per share.
Financial Highlights for the Second Quarter of Fiscal Year 2003
- Maintained revenue base in a challenging economy.
- Generated $2.5 million in cash flow from operations.
- Reduced DSOs 12 days from June 30, 2002 to 66 days as of September 30, 2002.
- Increased deferred revenues to a record $8.8 million, from $8.7 million at the end of the first quarter of fiscal 2003.
- Increased cash to $65.6 million, up $2.4 million from June 30,
2002.
Corporate Highlights for the Second Quarter of Fiscal Year 2003
- Achieved record attendance at OPNETWORK 2002, the Company's sixth annual technology conference. Over 1,000 people from corporate enterprises, government agencies, service providers, and equipment manufacturers participated in the five-day long conference.
- Won the prestigious "Best of Show Award" in the network management category at the NetWorld + Interop / COMDEX 2002 Atlanta tradeshow.
The Company will hold an investor conference call on Wednesday, October 30, 2002 at 5:00 pm EST to review financial results for the second quarter of fiscal 2003. Investors will be able to listen to the call by calling 877-407-9210 in the U.S. or 201-689-8049 for international callers, and enter password OPT-2Q54, or use the webcast at www.opnet.com, or at www.vcall.com (click 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. Call the replay phone number at 877-660-6853 or 201-612-7415 for international callers. For replay, enter account # 1628, conference ID # 44965. The replay will be available from 7:00 pm EST October 30th through 7:00 pm EST November 2nd. The webcast will be available at www.opnet.com or at www.vcall.com, archived for seven days.
About OPNET Technologies, Inc.
Founded in 1986, OPNET Technologies, Inc. is the leading provider of intelligent network management software. For more information about OPNET and its products, visit www.opnet.com.
OPNET and OPNET Technologies, Inc. are trademarks of OPNET Technologies, Inc. All other trademarks are the property of their respective owners.
OPNET Technologies,
Inc. Condensed Consolidated Statements of Operations
(unaudited)
OPNET Technologies, Inc. Condensed Consolidated
Balance Sheets
(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