OPNET Announces Results for Fourth Quarter of Fiscal 2005
Conference call/Webcast scheduled for 5:00pm EDT, May 16, 2005
BETHESDA, MD - May 16, 2005 -- OPNET Technologies, Inc. (NASDAQ: OPNT), a leading provider of management software for networks and applications, today announced financial results for the fourth quarter of fiscal 2005. Revenue for the quarter ended March 31, 2005 was a record $17.2 million compared to $16.3 million for the same quarter in the prior year. Earnings per share for the fourth quarter of fiscal 2005 was negative $0.03 on a diluted basis, compared to a positive $0.10 in the same quarter of the prior year.
For the year ended March 31, 2005, revenues were $64.2 million, compared to $56.5 million for the prior year. Earnings per share for the year ended March 31, 2005 was $0.10 on a diluted basis, compared to $0.28 for the year ended March 31, 2004.
Marc A. Cohen, OPNET’s Chairman and CEO, stated, “We are very pleased to report record quarterly revenues for Q4 of fiscal 2005, in addition to full year revenue growth of 13.8% over fiscal 2004. We maintained strong revenue visibility as a result of our deferred revenues as of March 31, 2005. While we are pleased with these top line results, we are disappointed that our Q4 EPS fell short of our Q4 guidance. Our Q4 EPS was negatively impacted by Sarbanes-Oxley implementation costs of approximately $1.8 million. Total costs associated with Sarbanes-Oxley implementation efforts during fiscal 2005 were approximately $2.4 million. The degree to which Sarbanes-Oxley-related costs will negatively impact EPS is expected to significantly decrease during fiscal 2006.” Mr. Cohen continued, “During Q4 we also accelerated investments in personnel to support our recently announced agreement with Cisco Systems, along with other business opportunities. We believe our alliance with Cisco represents a significant worldwide opportunity to reach new customers and grow our business. We are therefore making the necessary strategic investments to support this next phase of growth.”
Financial Highlights for the Fourth Quarter of Fiscal 2005
- Grew revenue 5.3% to a record $17.2 million from $16.3 million in revenue for the fourth quarter of fiscal 2004.
- Grew revenue sequentially 7% from $16.1 million for the third quarter of fiscal 2005.
- Maintained a strong balance sheet
with $82.2 million in cash and marketable securities at March 31, 2005.
First Quarter Fiscal Year 2006 Financial Outlook
OPNET expects fiscal first quarter revenue to be between $16.6 and $17.5 million
and earnings per share on a diluted basis to be between negative $0.03 and
$0.01. These amounts represent management’s current expectations about
the Company’s future financial performance, based on information available
at this time.
OPNET will hold an investor conference call on Monday, May 16, 2005 at 5:00 pm Eastern Time to review financial results for the fourth quarter of fiscal 2005. OPNET’s fiscal 2005 fourth quarter financial results will be released after the market closes on Monday, May 16, 2005.
To listen to the OPNET investor conference call:
- Call 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.
To listen to the archived call:
- Call the replay phone number at 877-660-6853 or 201-612-7415 for international callers. For replay, enter account # 286, conference ID # 147919. The replay will be available from 7:00 pm Eastern Time May 16th through 11:59 pm Eastern Time May 20th.
- 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.
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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 may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. OPNET Technologies, Inc. ("OPNET") assumes no obligation to update statements. Forward-looking statements are predictions 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, see OPNET's reports, including its most recent 10-Q and 10-K, filed with the Securities & Exchange Commission. In particular, OPNET’s estimates of its quarterly financial results discussed in this press release are based on preliminary estimates, and OPNET has not yet completed a full detailed analysis of its financial results for the quarter. Final results could differ from these estimates.
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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
Computer Associates Contact:
Eric Snow
Computer Associates
(508) 904-2653
eric.snow@ca.com
