Netegrity reported its third consecutive quarter of profitability in the first quarter of 2001 with record net income of $3.3 million or $0.10 per diluted share, as compared to a net loss of ($935,000), or ($0.03) per share for the quarter ended March 31, 2000.
License revenue from the Company’s flagship SiteMinder® platform was $18.8 million increasing 294% from $4.8 million for the corresponding quarter in 2000, and 21% from $15.5 million for the quarter ended December 31, 2000.
Netegrity’s strong first quarter performance and our continued market leadership is a direct result of success across all aspects of our business including a record number of new customer wins, new strategic partnerships, geographic expansion, and superior technology, said Barry Bycoff, chairman and CEO of Netegrity. While no company is immune to the current economic conditions, Netegrity remains extremely well positioned over the long-term for what will be a very significant market opportunity within e-business security.
During the quarter, Netegrity signed agreements with 66 new customers, bringing the total number of customers to 379. New customers in Q1 include Data Transport, Dorado, eArmy, FleetBoston Financial Corporation, Miller Systems, OpenTide, Ventro, and Verizon. Netegrity also had a record 47 follow on software deals with existing customers, indicating the success customers are achieving with Netegrity’s leading solution and the quality of the Company’s product suite.
SOURCE: COMPANY PRESS RELEASE
