MUSE ($77) Reports 123% Revenue Growth for Q1 2001
Pro Forma Quarterly Earnings Surge 206%
DSOs Improve to Best-Ever 39 Days
SAN FRANCISCO--(BUSINESS WIRE)--Jan. 18, 2001--Micromuse Inc. (Nasdaq: MUSE - news), the leading provider of realtime fault management and service assurance software, today announced record financial results for its 1st fiscal quarter ended December 31, 2000. Revenues for the quarter were a record $49.8 million, representing a 123% increase over the comparable quarter of fiscal 2000. Pro forma earnings for the quarter, excluding the amortization of goodwill and purchased intangible assets, were $7.7 million, or $0.10 per share on a diluted basis, as compared with pro forma earnings of $2.5 million, or $0.03 per share on a diluted basis, in the first quarter of fiscal 2000.
``Led by the continued growth in IP and data traffic, and the growing acceptance of the Netcool® suite as the industry standard, demand for our solutions is exceptionally strong,'' said Greg Brown, Chairman & CEO of Micromuse. ``In addition to our core data markets, we saw increasing uptake of the Netcool suite by emerging broadband, optical fiber, high-speed Internet access, and mobile wireless service providers. Our newer products not only had record quarters but also proved to be instrumental in driving sales for our core Netcool/OMNIbus(TM) application. Customers across all our core markets are using Netcool applications to improve the overall efficiency of their networks, increase profitability and ultimately compete successfully.''
The 1st quarter included the following highlights:
For the 4th consecutive quarter, sequential license revenue growth exceeded 20%.
Pro forma operating margins grew from 16.4% in Q4 2000 to 17.6% in Q1 2001.
Days' Sales Outstanding improved to a best-ever 39 days as of December 31, 2000.
Profitable operations enabled cash, cash equivalents and investments to increase by a record $21.4 million to a record $136.7 million.
The total customer count increased by 142 to reach 1,012.
Revenues from service provider customers were 75% of revenue.
European revenues were a record $15 million, representing 30% of total revenues.
The Netcool/Impact(TM) customer base grew by a record 37 to a total of 112.
The Netcool/Precision(TM) customer base tripled to reach 30 customers.
Increased activity from OEMs, systems integrators and resellers, with a record 103 channel partners contributing to revenue in the quarter. Sales through channel partners were 34% of total revenue.
The Netcool suite now supports more than 300 different devices, management platforms and environments.
Net income for the quarter, including the amortization of goodwill and purchased intangible assets, was $5.5 million or $0.07 per share on a diluted basis, as compared with a reported net loss of $8.6 million, or net loss of $0.13 per share, in the first quarter of fiscal 2000.
About Micromuse
Micromuse Inc. (Nasdaq: MUSE - news) is the leading provider of realtime fault management and service assurance software. Micromuse was named one of the Top 25 Best Performers in the Wall Street Journal's Shareholder Scoreboard, and has recently been recognized in the Forbes 500, Business Week's Info Tech 100, Bloomberg's Top 100 Stocks, Barron's 500, Deloitte & Touche's Technology Fast 500 and the San Francisco Chronicle 500. Micromuse customers include AT&T, BT, Cable & Wireless, Cellular One, Charles Schwab, Deutsche Telekom, Digex, EarthLink, Global Crossing, GTE, ITC^DeltaCom, MCI Worldcom, One2One, PSINet, XO Communications and a number of financial investment concerns. Headquarters are located at 139 Townsend Street, San Francisco, Calif. 94107; (415) 538-9090. The Web site is at www.micromuse.com. |
