OpenLink

OpenLink Announces 2001 Second Quarter Results and Profits

MITCHEL FIELD, NY, August 23, 2001 /PRNewswire/ — OpenLink, an industry leader in energy and financial trading and risk management software solutions, continued its track record of growth during the second quarter of 2001, surpassing revenue and licensing figures set during the comparable period of fiscal year 2000.  For the three months ended June 30, 2001, OpenLink's total revenue increased 100% to $12.6 million compared to the same quarter 2000. Software revenue increased 86% to $8.1 million versus the previous year's respective timeframe.

Total revenue for the first six months of 2001 was $21.3 million, an 83% increase over the previous year's historical highs, while pre-tax profits of $3.5 million were recorded. 

"While these figures put us on track to exceed our estimated revenue and profit targets for 2001, it is important to highlight that we continue to make significant investments in our products and services, ensuring our leadership position," said Coleman Fung, OpenLink's founder and CEO.

Worldwide staff numbers reached 227 by the end of June 2001, representing a 73% increase from last year's second quarter close. Development and quality assurance staffs were increased by a total of 54%, while client support and services staffs more than doubled.

"We remain bullish on our outlook for the third and fourth quarter of 2001 as our revenue backlog has achieved a record high and prospects for new license sales remain strong.  In addition, many of our existing clients continue to extend their use of our solutions by adding users and increasing instrument coverage," added Kevin Hesselbirg, OpenLink's COO. "We are definitely poised and positioned for our next phase of growth."

About OpenLink

Founded in 1992, OpenLink has emerged as a leading solution provider of energy and financial trading and risk management systems with broad market functionality.  The company's global client base includes Bank for International Settlements, Credit Local de France, Deutsche Bank, Duke Energy, Dynegy Inc., Hamburgische Electricitats-Werke, Energie Baden-Württemberg AG, Equiva Services LLC, ExxonMobil Gas, Gaz de France, Halifax PLC, Manulife Financial, Nexen, PanCanadian Petroleum, RWE Trading GmbH, and Shell Trading.  Headquartered in Long Island, New York, OpenLink employs more than 230 professionals worldwide and has offices in New York, London and Houston.

Editorial Contact:

e-mail: Dorianne Landolphi
OpenLink
Marketing Communications Manager
Direct phone: +1 516 394 1115
Fax number: +1 516 394 1197