News
OpenLink 2001 Financial Performance Sets Company Record
Consistent Year-over-year Growth Continues in Revenues, Clients, Staffing and Global Coverage
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
OpenLink is a leading provider of financial trading and risk management software solutions. The company's Adaptive, Dynamic, and Integration-enabling (ADI) Framework-based solutions support the most rigorous risk management requirements of firms trading in interest rate derivatives, fixed income securities, foreign exchange, money markets, energy, metals and soft commodities. OpenLink's global client base includes Bank for International Settlements, Bank of Canada, Deutsche Bank, Duke, EnCana, Equiva Services LLC, Mobil UK, Mirant, Nexen, Shell Trading, Vattenfall Europe Trading GmbH, Westdeutsche Landesbank (West LB) and Zurich Capital Markets. Headquartered on Long Island, NY, OpenLink employs more than 280 professionals worldwide at offices in London, Houston, New York City, and Berlin.
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OpenLink
Phone: +1 516 833 4509
