Revenues for the fourth quarter of fiscal 2001 were $58.6 million, compared with $20.3 million for the same period last year, an increase of 189%. Net income, excluding stock-based compensation, a restructuring charge, amortization of goodwill and other acquisition-related charges and related income tax effects was $7.5 million or $0.14 per diluted share for the fourth quarter of fiscal 2001, compared with $4.3 million or $0.14 per diluted share for the fourth quarter of fiscal 2000, an increase in net income of 73%.
For fiscal 2001, revenues were $166.9 million, compared with $47.9 million for fiscal 2000, an increase of 248%. Net income, excluding stock-based compensation, a restructuring charge, amortization of goodwill and other acquisition-related charges and related income tax effects was $28.6 million or $0.63 per diluted share for fiscal 2001, compared with $9.6 million or $0.46 per diluted share for fiscal 2000, increases of 197% and 37%, respectively.
Results, based on generally accepted accounting principles, for the fourth quarter and year ended June 30, 2001 include amortization of goodwill and other intangibles relating to acquisitions of $196.0 million and $554.7 million for the three and twelve month periods, respectively, amortization of stock-based compensation of $1.5 million and $2.0 million for the three and twelve month periods, respectively, a restructuring charge of $816,000 for the three and twelve month periods related to redundancies resulting from the WebTrends merger and the resizing of our business, and the write-off of $2.7 million for the twelve month period for acquired in-process research and development costs relating to the merger with WebTrends last quarter. Including these charges, net losses for the fourth quarter and year-ended June 30, 2001 were $187.0 million and $524.0 million and basic and diluted net losses per share were $3.55 and $12.48, respectively.
The mergers with Mission Critical Software, completed in May 2000, and WebTrends Corporation, completed in March 2001, were both accounted for as purchases. Their revenues and operating results are included in our statements of operations from the dates of acquisition forward.
We are very pleased with our quarterly and annual results, said Ching-Fa Hwang, president and CEO of NetIQ. The breadth and depth of our solutions and the diversity of our customer base have certainly helped us weather a challenging market. So much of our success is directly related to our ability to understand and meet our customers’ requirements. We continue to win against the competition, build a strong partner base and customer loyalty because we deliver solutions that provide a high return on investment and improved infrastructure leverage.
Our financial metrics remain strong, providing another indication of solid execution throughout the organizationdeferred revenue increased 7.5% sequentially, days sales outstanding remained very good at 42 days, and working capital increased sequentially more than $14.0 million, said Jim Barth, Senior Vice President and Chief Financial Officer. The integration of WebTrends is on track, our combined company is operating smoothly and we are very pleased with the progress.
SOURCE: COMPANY PRESS RELEASE
