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Opnet posts $2.3M profit for fourth quarter

Tue, 05/11/2010 - 2:30pm
The Associated Press

Opnet Technologies Inc., which makes network management software, on Tuesday said it turned a profit in the latest quarter as business rebounded after the recession.

For the fiscal fourth quarter, ended March 31, net income was $2.3 million, or 11 cents per share. That compared to a loss of $72,000, or less than 1 cent per share, in the same quarter a year ago.

Excluding items and the cost of stock-based compensation, earnings were 14 cents per share, beating the average estimate of analysts polled by Thomson Reuters, at 10 cents per share.

The Bethesda-based company said revenue rose 19 percent to $34.4 million, from $28.9 million in the year-ago quarter. Wall Street was anticipating sales of $33.1 million.

Opnet said it expects earnings of 3 cents to and 8 cents per share in the current quarter, on $32 million and $34.5 million in revenue.

Opnet declared a quarterly dividend of 10 cents per share for the current quarter, and said it targeted dividends of 40 cents per share for the current fiscal year, up from 36 cents per share last year.

For the full fiscal year, profit was $5.8 million, or 28 cents per share, from $4.7 million, or 23 cents per share, in 2009. Revenue grew to $126.3 million from $122.9 million the previous year.

Shares rose 78 cents, or 5 percent, before the release of the results, to end the day's regular session at $16.22.

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