OpenLink

OpenLink 2001 Financial Performance Sets Company Record

MITCHEL FIELD, NY, February 28, 2002 /PRNewswire/ — OpenLink, an industry leader in energy and financial trading and risk management software solutions, continued its strong growth trend during 2001, setting records in revenues, clients and staff for the fourth consecutive year.

For the year ended December 31, 2001, OpenLink reported annual revenues of $47.4 million, a 97% increase over the previous year's historical highs, and record pre-tax profits of $7.8 million. License fees and software maintenance accounted for 63% of OpenLink's total 2001 revenue. Other growth highlights included increases of 50% in new clients, 59% in client sites and 81% in staffing, as well as OpenLink's continued expansion in Europe with the opening of a new office in Berlin. 

"Our 2001 results validate that our organic growth model is sustainable and very profitable," said Coleman Fung, OpenLink's founder and CEO. "OpenLink's significant reinvestment in product development and client services continues to exceed industry standards, providing the foundation for a long-term profitable future. Going forward, we expect to further leverage our ADI (Adaptive, Dynamic and Integration) Framework as various financial and energy markets continue to converge on a rigorous risk framework."

During 2001, OpenLink added top-tier clients around the globe, including Duke Energy in North and South America, Australia and Europe; Mirant in the U.S. and Canada; Bank of Canada; Birka in Sweden; WestLB in the UK; Ruhrgas in Germany; Verbund in Austria; Edison SpA in Italy; and Zurich Capital Markets in Australia, the U.S. and the UK. Several of OpenLink's financial clients, such as Deutsche Bank, extended their software licenses to encompass energy commodity trading.

"Even as both financial and energy markets become more challenging and competitive due to recent events, OpenLink continues to build its lead among the world's top-tier players," said Kevin Hesselbirg, OpenLink's COO. "Our focus on the dynamic needs of the global energy and financial markets is a key component of OpenLink's internal risk management practice, enabling us to develop timely solutions that serve multiple markets across a wide geographic coverage. This is the primary reason we can maintain such a profitable business model. Risk management is what we do, for both our clients and ourselves. It's the way we think." 

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, Bank of Canada, Credit Local de France, Deutsche Bank, Duke Energy, Dynegy Inc., Hamburgische Electricitats-Werke, Equiva Services LLC, ExxonMobil Gas, Halifax PLC, Manulife Financial, Nexen, PanCanadian Petroleum, Shell Trading and WestLB. Headquartered in Long Island, New York, OpenLink employs more than 300 professionals worldwide and has offices in London, Houston, New York City and Berlin.

Editorial Contact:

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