Mitchel Field, NY, November 9, 2001: OpenLink (www.olf.com), an industry leader in energy and financial trading and risk management software solutions, continued its strong growth trend during the third quarter of 2001 by producing record revenues for the fourth straight quarter and more than doubling revenue and licensing results over the comparable period of fiscal year 2000. For the three months ended September 30, 2001, OpenLink’s total revenue increased 130% to $13.9 million compared to the same quarter in 2000. Software revenue increased 161% to $7.7 million versus the previous year’s respective timeframe.
Total revenue for the first nine months of 2001 was $35.2 million, a 99% increase over the previous year’s historical highs, while pre-tax profits reached a record $5.9 million.
"Our focus in the last year on market diversification shielded our results from any negative market impacts following the events of September 11," said Coleman Fung, OpenLink’s founder and CEO. "The outlook for both the financial and energy/commodity markets in both North America and Europe remains strong for OpenLink’s trading and risk management solutions. Our clients’ and prospects’ initiatives and budgets are still on track and, in fact, some of our clients have planned further expansions and related increases in spending. OpenLink continues to gain market share among North America’s top-tier energy marketers, as well as on both the financial and energy fronts in Europe."
"OpenLink is primed for continued growth and profitability as we look toward 2002 and beyond," added Kevin Hesselbirg, OpenLink’s COO. "Our strong financial performance this year and our robust sales pipeline continue to fuel OpenLink’s expansion plans as we remain focused on meeting the challenging market demands of our growing global client base. In the last quarter, OpenLink products were successfully installed in five new countries. This solid foundation is our springboard to continued success."