OpenText Reports Fourth Quarter and Fiscal Year 2019 Financial Results

 

OPEN TEXT CORPORATION

CONSOLIDATED STATEMENTS OF INCOME

(In thousands of U.S. dollars, except share and per share data)

(unaudited)

 
 

Three Months Ended June 30,

 

2019

 

2018

Revenues:

     

License

$

119,728

   

$

139,924

 

Cloud services and subscriptions

241,889

   

217,892

 

Customer support

315,248

   

316,751

 

Professional service and other

70,356

   

79,703

 

Total revenues

747,221

   

754,270

 

Cost of revenues:

     

License

4,128

   

3,048

 

Cloud services and subscriptions

103,719

   

95,346

 

Customer support

30,761

   

34,232

 

Professional service and other

55,183

   

64,896

 

Amortization of acquired technology-based intangible assets

42,946

   

47,477

 

Total cost of revenues

236,737

   

244,999

 

Gross profit

510,484

   

509,271

 

Operating expenses:

     

Research and development

83,708

   

81,816

 

Sales and marketing

139,416

   

147,499

 

General and administrative

52,954

   

52,577

 

Depreciation

25,000

   

22,901

 

Amortization of acquired customer-based intangible assets

49,200

   

47,299

 

Special charges

2,232

   

7,821

 

Total operating expenses

352,510

   

359,913

 

Income from operations

157,974

   

149,358

 

Other income (expense), net

3,191

   

(8,938)

 

Interest and other related expense, net

(32,841)

   

(35,345)

 

Income before income taxes

128,324

   

105,075

 

Provision for (recovery of) income taxes

56,309

   

43,182

 

Net income for the period

$

72,015

   

$

61,893

 

Net (income) loss attributable to non-controlling interests

(32)

   

(170)

 

Net income attributable to OpenText

$

71,983

   

$

61,723

 

Earnings per share—basic attributable to OpenText

$

0.27

   

$

0.23

 

Earnings per share—diluted attributable to OpenText

$

0.27

   

$

0.23

 

Weighted average number of Common Shares outstanding—basic

269,446

   

267,489

 

Weighted average number of Common Shares outstanding—diluted

270,652

   

268,628

 

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