OPNET Reports Results for Fiscal Q1 2005
- Record revenue of $16.8 Million
- Expanded operating margins to 17%
- Record deferred revenue of $14.3 million
- EPS of $0.10
- Operating Cash Flow of $ 4.1 million
BETHESDA, MD - July 29, 2004 --OPNET Technologies, Inc. (NASDAQ: OPNT), a leading provider of management software for networks and applications, today announced financial results for its first fiscal quarter ended June 30, 2004. Revenue for the quarter ended June 30, 2004 was $16.8 million compared to $12.3 million for the same quarter in the prior year. Earnings per share for the first quarter of fiscal 2005 were $0.10 on a diluted basis, compared to $0.04 in the same quarter of the prior year.
OPNET Chairman & CEO, Marc A. Cohen, stated, “We are very pleased to report outstanding results for fiscal Q1 of 2005. We generated record revenue, record deferred revenue, and maintained strong operating margins while continuing to making investments in staff. However, like many software companies, we experienced a tightening of corporate IT budgets as well as delayed purchasing decisions towards the end of the quarter. We are therefore being conservative in our guidance for fiscal Q2.”
Second Quarter Fiscal Year 2005 Financial Outlook
OPNET expects revenue for the second quarter of fiscal year 2005 to be between $16.0 and $16.5 million and diluted earnings to be between 7 and 9 cents per share. These amounts represent management’s current expectations about the Company’s future financial performance, based on information available at this time.
Financial Highlights for the First Quarter of Fiscal Year 2005
- Grew revenue year over year 36.4% to a record $16.8 million from $12.3 million in revenue for the first quarter of fiscal 2004. Revenue for the quarter grew sequentially 2.9% from $16.3 million for the fourth quarter of fiscal 2004.
- Expanded operating margins sequentially from 16.6% to 17.0% in the first quarter of fiscal 2005 resulting in record operating income of $2.9 million.
- Increased cash and marketable securities $4.1 million during the first quarter of fiscal 2005 to $85.6 million at June 30, 2004.
- Increased deferred revenues to a record $14.3 million from $13.7 million at the end of the fourth quarter of fiscal 2004.
The Company will hold an investor conference call on Thursday, July 29, 2004 at 5:00 pm EDT to review financial results for the first quarter of fiscal 2005. Investors will be able to listen to the call by calling 877-407-9205 in the U.S. or 201-689-8054 for international callers 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 # 111466. The replay will be available from 7:00 pm EDT July 29th through 11:59 pm EDT August 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 a leading provider of management software for networks and applications. 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.
Statements in this press release that are not purely historical facts, including statements about expected financial performance in future periods, constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. OPNET Technologies, Inc. ("OPNET") assumes no obligation to update these statements. Forward-looking statements are based upon information available to OPNET as of the date of this press release and involve risks and uncertainties; therefore, actual events or results may differ materially. For a discussion of risk factors that could affect OPNET’s future performance, see OPNET's most recent 10-K, filed with the Securities & Exchange Commission.
###
Note to editors: The word OPNET is spelled with all upper-case letters.
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