OPNET Technologies up 23% After Q4 Earnings
OPNET Technologies (NASDAQ: OPNT) is trading higher on the session following its Q4 earnings announcement yesterday after the close. The company reported an EPS of $0.21 vs $0.21 estimates and revenues $44.6 million vs $44.79 million estimates. OPNET also announced it sees Q1 EPS of $0.16-0.23 vs $0.21 estimates.
Marc A. Cohen, OPNET's Chairman and CEO, said: "While we are disappointed that we did not achieve our revenue guidance for the quarter, we are pleased to report that $2.2 million of the $2.4 million in delayed March deals discussed during our last conference call have been closed. Our application performance management (APM) products continue to drive our business. APM product bookings accounted for 78% of our total product bookings during the March quarter, and grew 37% from the same quarter last fiscal year. The growth in demand for our APM products, together with strong maintenance renewal bookings, allowed us to end the quarter with record deferred revenue of $54.9 million."
OPNET Technologies is currently trading at $27.21, a gain of $5.10 or 23.07%.
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