Singapore, August 11, 2011 – Open Text(TM) Corporation (NASDAQ:OTEX) (TSX: OTC), today announced financial results for its fourth quarter ended June 30, 2011. Total revenue for the fourth quarter of fiscal 2011 was $285.5 million, up 19.0% compared to $240.0 million for the same period in the prior fiscal year. License revenue for the fourth quarter of fiscal 2011 was $79.6 million, up 16.2% compared to $68.5 million for the same period in the prior fiscal year.
Adjusted net income for the fourth quarter of fiscal 2011 was $61.5 million or $1.05 per share on a diluted basis, up 12.0% compared to $54.9 million or $0.95 per share on a diluted basis for the same period in the prior fiscal year. Net income in accordance with U.S. generally accepted accounting principles (“US GAAP”) was $28.6 million or $0.49 per share on a diluted basis, compared to $53.2 million or $0.92 per share on a diluted basis for the same period in the prior fiscal year.
Total revenue for fiscal 2011 was $1,033.3 million, up 13.3% compared to $912.0 million in the prior fiscal year. License revenue for fiscal 2011 was $269.2 million, up 13.1% compared to $238.1 million in the prior fiscal year. Adjusted net income for fiscal 2011 was $234.5 million, up 31.7% compared to $178.0 million in the prior fiscal year. Adjusted earnings per share for fiscal 2011 was $4.02 per share on a diluted basis, compared to $3.10 per share on a diluted basis, in the prior fiscal year. Net income for fiscal 2011 in accordance with US GAAP was $123.2 million, or $2.11 per share on a diluted basis, compared to $89.2 million, or $1.55 per share on a diluted basis, in the prior fiscal year.Eying Wee OpenText Phone: 65 6594 2388 Email: eying.wee@opentext.comOperating cash flow in the fourth quarter of fiscal 2011 was $52.0 million, compared to $65.2 million for the same period in the prior fiscal year. For the full 2011 fiscal year, Open Text generated $223.2 million in operating cash flow compared to $180.2 million in fiscal 2010. The cash and cash equivalents balance as of June 30, 2011 was $284.1 million. Accounts receivable as of June 30, 2011 totalled $154.6 million, compared to $132.1 million as of June 30, 2010 and Days Sales Outstanding (DSO) was 49 days in the fourth quarter of fiscal 2011, compared to 50 days in the fourth quarter of fiscal 2010. “Fiscal 2011 was a strong year for both revenue and profits. With a 30 percent year-over-year increase in adjusted earnings per share, Open Text delivered strong value to its shareholders,” said John Shackleton, President and Chief Executive Officer, Open Text. “With the addition of leading Business Process Management (BPM) products, Open Text is focused on distributing its integrated product suite to an even larger global market.” About OpenText Media Contacts: Kavita Balakrishnan |