Coming off a strong year for its software and its consulting services to energy market participants, New York City-based Caminus Corp. reported record financial results for the fourth quarter and full year 2001. The company posted pro forma net income of $9 million ($0.55 per share) for full year 2001, compared to $7.6 million ($0.49 per share) during 2000. Pro forma net income for the fourth quarter was $4.8 million ($0.28 per share), compared to $2.9 million ($0.18 per share) for the fourth quarter 2000.

“Our software business turned in its best-ever performance amid the most challenging economic environment the company has faced,” stated David Stoner, CEO of Caminus. “Fourth quarter performance, combined with the Altra acquisition, enabled Caminus to end 2001 on a strong note. The integration of Altra’s operations is proceeding smoothly, and we are already seeing promising demand across a broadened product suite that provides over 300 customers with a variety of applications for energy trading, transaction processing, operations and scheduling, and risk management.”

The four-year-old company said total revenues for the year increased 44% from $51.7 million for 2000 to $74.7 million for 2001. The fourth quarter also showed a sizeable increase. Revenues for the three months ended Dec. 31, 2001 rose 47% to $25.4 million, compared to $17.3 million during the fourth quarter of 2000.

The company reported that it posted record fourth quarter and full year results across all key “financial metrics,” including revenues, license fee revenues, pro forma income and net income per share. Overall, Caminus said it generated $12.7 million in operating cash flow in 2001 with $6 million coming from the fourth quarter.

Caminus provides software and strategic consulting services that facilitate energy trading, transaction processing, risk management and decision support within the wholesale energy markets. The company’s software can be used by any entity that buys, sells, trades, or takes a position in energy, and serves customers in every segment of the wholesale energy industry. Caminus currently has approximately 300 customers worldwide, including British Energy, Consolidated Edison, Conoco, Dynegy, El Paso Energy, Endesa and Royal Dutch/Shell.

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