Total revenue for the third quarter of 2001 was $16.7 million compared to $15.3 million for the same period last year. The Company reported a net loss for the third quarter of 2001 of ($2.4) million or ($0.08) per diluted share, compared to net income of $911,000 or $0.03 per share for the third quarter of 2000.
License revenue from the Company’s SiteMinder family of products was $9.0 million, compared to $10.6 million for the corresponding quarter in 2000.
For the nine months ended September 30, 2001, revenue increased 107% to $67.5 million as compared to $32.6 million for the nine months ended September 30, 2000. The Company reported net income for the first nine months of 2001 of $4.1 million or $0.12 per diluted share, as compared to a net loss of ($130,000) or $0.00 per share for the same period in 2000.
The key business metrics for our company continue to be strong despite the tough economy and the tragic events of September 11th, said Barry Bycoff, chairman president, and CEO of Netegrity. The high level of activity in new name accounts, follow on customer deals, and in international markets, are all very positive indicators of a solid business.
In the third quarter, Netegrity added a significant number of new customers and experienced strong follow on sales. The Company signed agreements with 50 new customers, bringing the total number of customers to 481. New customers include Bayer AG, Bell South, Cheshire County Council, City of Stockholm, City of Sunderland City Council, Danish Post, eFunds, German Telekom, Stockholm Stad, Sussex Police, Teleglobe, Telus, and United Health Group. Netegrity also had 45 follow on software deals with existing customers, which further indicates Netegrity’ strong position at the core of mission critical e-business applications.
