CAMZ ($21-$22) EPS -.025 Beats by 1 cent. Rev's rose.
Caminus Corp. Announces Record Revenues; Second Quarter License Revenues and Total Revenues Increase 61% and 58%, Respectively
Business Wire - Tuesday, July 31, 2001
NEW YORK--(BUSINESS WIRE)--July 31, 2001--Caminus Corp. (Nasdaq: CAMZ), one of the energy industry's leading providers of software and strategic consulting for trading and risk management in North America and Europe, today reported record revenues for the second quarter ended June 30, 2001.
Total revenues for the second quarter of 2001 increased 58% to $17.7 million, compared to $11.2 million for the second quarter of 2000. Revenues from software license fees increased 61% to $7.5 million during the same period. Pro forma net income was $2.3 million, or $0.14 per diluted share, for the second quarter of 2001, compared to $1.8 million, or $0.11 per diluted share for the comparable period, representing pro forma net income growth of 31%. The net loss for the second quarter of 2001 was $0.06 per share compared to a net loss of $0.04 for the second quarter of 2000.
Total revenues for the six months ended June 30, 2001 increased 73% to $34.1 million, compared to $19.7 million for the first half of 2000. Pro forma net income for the same period increased 40% to $3.5 million, or $0.22 per diluted share, compared to $2.5 million, or $0.16 per diluted share for 2000. Pro forma net income and income per share exclude principally amortization of intangible assets and IPO-related expenses.
"We are proud that our results for the quarter and our prospects for the year reflect continued strong, profitable growth, especially in the face of such a challenging market environment for information technology spending in general," said David Stoner, President and CEO of Caminus. "Our financial results and our unmatched success in providing software, services and strategic consulting to the energy industry's marquee companies is most gratifying. Demand for all of our product lines -- Zai*Net, Nucleus, GasMaster and WeatherDelta -- remains strong. During the quarter, PacifiCorp and PSEG Energy Resources and Trade licensed WeatherDelta and we also closed our first sale in Europe for GasMaster II, which launched earlier in the quarter. We had a very good quarter in terms of adding new customers that rank among the world's energy leaders, including G.E. Power, Endesa, and Toronto Hydro Energy Services. The leading indicators for our business are healthy and we look forward to a good second half."
Caminus will hold a live Webcast conference call to discuss second quarter 2001 results at 5:00 p.m. Eastern Time this afternoon, July 31, 2001. Please visit www.caminus.com about 15 minutes prior to 5:00 p.m. to download and install any necessary audio software to access the Webcast. A replay of the Company's second quarter 2001 conference call will be available approximately one hour after the conclusion of the live call and will run until 7:00 p.m. Eastern Time on August 2, 2001. To access the replay, please dial 800-633-8284 (U.S) / 858-812-6440 (Int'l) and enter the passcode of 19342693.
About Caminus Corporation
Caminus Corporation is a leading provider of risk management software and strategic consulting services for participants in energy markets throughout North America and Europe, including utilities, electrical power generating companies, energy marketers, electric power pools, gas producers, processors, and pipelines. Caminus offers a suite of software solutions and associated services to enable energy market participants to manage complex risk scenarios and effectively trade and manage energy transactions addressing multiple energy commodities and types of risk across varied geographies.
In addition to its suite of energy trading, transaction and risk management software solutions, Caminus also provides strategic consulting services for market-related issues within the energy sector. The company has over 150 energy enterprise customers of its software solutions and strategic consulting services, including British Energy, Consolidated Edison, Conoco, El Paso Merchant Energy-Gas, Calpine Corporation, Dynegy, BP Gas Marketing Limited, Electricitie de France and Powergen UK. Caminus is headquartered in New York, with offices in London and Cambridge, UK; Houston and Dallas, Texas; and Calgary, Canada. For more information about Caminus, please visit the corporate Web site at www.caminus.com. |
