Keynote Announces Record Second Quarter Financial Results
biz.yahoo.com
Quarterly Revenues Grew 452% Year over Year and Net Loss Narrowed to $0.02 Per Share; Growth is Fueled by Record Sequential Increase in New Customers and Add-On Revenues
SAN MATEO, Calif.--(BUSINESS WIRE)--April 19, 2000-- Keynote Systems (Nasdaq:KEYN - news), The Internet Performance Authority©, today announced record financial results for the quarter ended March 31, 2000.
Revenues for the second quarter of fiscal 2000 were $7.2 million, which represented an increase of 452% over the corresponding quarter in fiscal 1999 and a 50% increase over the December 1999 quarter. Net loss for the quarter was $441,000, or $0.02 per share, compared to a net loss of $1.1 million, or $0.24 per share, for the corresponding quarter a year ago and $2.0 million, or $0.09 per share, for the December 1999 quarter. Pro forma net loss per share, which assumes full conversion of preferred stock that was converted into common stock at the time of Keynote's initial public offering at the beginning of the period, for the quarters ended March 31, 2000, December 31, 1999, and March 31, 1999 was $0.02, $0.09 and $0.08 per share, respectively.
``I am extremely pleased with our ability to successfully execute an extremely aggressive financial plan. We continued to broaden our customer base and, in fact, welcomed our 1,000th customer, during the quarter,' said Umang Gupta, Chairman and CEO of Keynote. ``Our ability to sustain our recent high growth rates during the quarter has been a product of new customer revenue, continued significant increases in add-on revenue from existing customers, and business partnerships with companies such as UUNET and Micromuse, to even further extend our market reach.'
During the quarter Keynote continued to invest in the expansion of its global infrastructure to include nearly 500 measurement computers, connected to major Internet backbones from over 120 statistically selected locations across 50 metropolitan areas worldwide. As of March 31, 2000, the company measured almost 10,000 Web-site addresses, and captured over 24 million measurements per day.
Keynote added 285 new customers, during the quarter, another company record. New customers included companies such as 3Com Corporation (Nasdaq:COMS - news), Bell Atlantic (NYSE:BEL - news), Blockbuster, Inc. (NYSE:BBI - news), Caterpillar, Inc. (NYSE:CAT - news), Inktomi (Nasdaq:INKT - news), Proctor & Gamble (NYSE:PG - news), Siebel Systems (Nasdaq: SEBL - news), Sony Entertainment (NYSE:SNE - news), and United Parcel Service (NYSE:UPS - news). As of March 31, 2000, Keynote had a total of 1,003 customers, and over 3,000 subscribers. Subscribers include all Keynote customers in addition to those whom Keynote serves indirectly through Web-hosting companies and now include 78% of the current Media Metrix Top 50 Web Sites and 53% of the Media Metrix Top 500 Web Sites in the U.S.
Highlights for the quarter:
-- Keynote successfully completed a follow-on public offering,
raising $287 million, net of issuance costs.
-- Keynote expanded its infrastructure to nearly 500 computers
worldwide to capture over 24 million measurements per day.
-- Keynote alerted the world's media to the Denial of Service
attacks in February of 2000, and provided important Internet
performance data regarding the cyber-attacks through
appearances on leading broadcast media including NBC Nightly
News and CNN, and in stories in dozens of leading business and
technology publications throughout the world including cover
stories in The New York Times, USA Today, The San Francisco
Chronicle and in The Wall Street Journal.
-- Keynote passed the 1,000th customer milestone.
-- UUNET, an MCI WorldCom Company, will provide Keynote Web-site
performance data to UUNET's hosting customers.
-- Keynote announced that the 2000 Global Internet Performance
Conference(TM) is going to be held on September 6-8, 2000 in
San Francisco, California.
-- Keynote and ZDNet (NYSE:ZDZ - news) announced The Keynote/ZDNet
AnchorDesk Consumer Internet Performance Index, which can now
be seen on the ZDNet-AnchorDesk Web site (www.anchordesk.com)
led by award-winning Internet pundit Jesse Berst. The Index is
an independent metric of the overall experience of users at
home accessing popular Web sites over dial-up connections.
-- Keynote and Micromuse, Inc. (Nasdaq: MUSE - news) announced a
business partnership to develop strategic e-commerce
infrastructure monitoring solutions. Micromuse will integrate
Keynote's Web site performance data, as a real-time feed into
Micromuse's Netcool EventList console.
-- Keynote announced two additional services, Perspective(TM)
Global 50 and Transaction 25, which expand to 50 the number of
statistically selected metropolitan locations around the world
from which Keynote measures e-commerce quality of service. |
