2/14/2002 - Datum Inc. (Nasdaq: DATM), a leading supplier of timing and synchronization solutions for telecommunications and enterprise networks, today reported results for its fiscal fourth quarter and its fiscal year ended December 31, 2001. Fourth quarter net revenue was $23.2 million with a net profit of $295,000, or $0.05 per diluted share, including a one-time net benefit from higher R&D tax credits relating to prior years. This resulted from a study substantially completed by the Company during the quarter, which concluded that Datum had understated its available tax credit in prior years by $1.1 million. Exclusive of this benefit, pro forma results were in line with expectations at a loss of $0.11 per share. Fourth quarter results compare to revenue of $33.5 million and net income of $1.9 million, or $0.30 per diluted share, in the same period last year.
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