Jan, 2002 : Mercury Interactive Reports Q4 and 2001 Results

📅 January 25, 2002 - Mercury Interactive Corporation (mercuryinteractive.com), aprovider of enterprise testing and performance management solutions, hasrecently reported results for the fourth quarter and year ended Dec. 31,2001.

Revenue for the fourth quarter of 2001 was $90.3 million, compared to $97.5million in the fourth quarter of 2000. Pro forma net income for the fourthquarter of 2001, excluding amortization and an extraordinary gain on theearly retirement of debt, was $12.1 million or $0.14 per share on a dilutedbasis, compared to net income of $25.8 million or $0.28 per share on adiluted basis for the fourth quarter of 2000. For the year ended Dec. 31,2001, revenue was $361.0 million, compared to $307.0 million for the sameperiod in 2000. Pro forma net income in this period was $54.3 million or$0.60 per share on a diluted basis, compared to net income of $64.7 millionor $0.70 per share on a diluted basis for the same period in 2000.
"Our fourth quarter was a strong finish to a challenging year," said AmnonLandan, chairman, CEO and president of Mercury Interactive. "Despite adifficult economic environment, we grew revenue by 18 percent in 2001,strengthened our position in the testing market and cemented earlyleadership in the performance management market."
For the fourth quarter, net income was $15.8 million or $0.18 per share on adiluted basis. This includes amortization of $12.8 million associated withthe Freshwater Software acquisition and an extraordinary gain of $16.3million, net of taxes, associated with the early retirement of debt. Netincome for the year ended Dec. 31, 2001 was $34.2 million, or $0.38 pershare on a diluted basis. During the fourth quarter, Mercury Interactivepaid approximately $102.7 million, plus accrued interest, to retire $122.5million face amount of its convertible subordinated notes.