OPNET Technologies Stock Pops and Recovery Moves Company Closer to Billion Dollar Status

 OPNET Technologies headquarters in downtown Bethesda, Maryland - Metro Business Media

It started before the opening bell Wednesday morning, OPNET Technologies, Inc. (NASDAQ: OPNT), stock had already gapped to around $35 a share, it wasn't too long before morning trading sent the stock flying over 12% to $38 a share. By the closing bell the share price had settled down a bit but still up over 10% at the end of the day.

OPNET with headquarters in downtown Bethesda is recovering quicker than many stocks during this bear market. In just one day the company is moving closer to that next level, high status claim of a billion dollar market capitalization. The current market cap is approximately $815.3 Million.

The stock soared on release of Opnet's first quarter, fiscal 2012 financial results which ended June 30, 2011. With that, the stock price is approaching levels not seen at the company since the dot com golden age in early 2000s.

Revenue for the company's first quarter has risen to $40.2 Million almost $10 Million more than $31.1 Million reported in the prior fiscal quarter, last year. The company not only continued to be profitable but increased its net income more than three times the amount in the previous fiscal quarter to $4.18 Million or $0.18 cents per diluted share versus $1.33 Million or  $0.6 cents per diluted share.

Marc A. Cohen, OPNET’s Chairman and CEO of OPNET Technologies, Inc., remarked  “We are very pleased to report strong quarterly results for fiscal Q1.  Our performance was driven by both sequential and year over year increases in revenue from corporate enterprise and United States government customers; although, total revenue was down sequentially due to the seasonal buying patterns of international customers.  Our strong quarterly performance allowed us to achieve record operating income of $6.3 million.”

Cohen continued, “APM product sales continued to drive our performance, and accounted for 58% of our total product bookings during the quarter.  APM product sales increased 24% over the same quarter last year.  We believe that the growth in APM is being driven by both superior analytics, and our end-to-end solutions that span networks, applications, and systems. We further believe that these competitive advantages can generate sustained growth in product revenue and profitability over the long term.”

For a company that brings in about $150 Million in annual revenue, Opnet had a sizable stockpile of cash and cash equivalents totaling $88.3 Million at the end of June 30, 2011. Operations should continue for the foreseeable future.

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