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) Platform 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."