View Full Version : Open Text
02-20-2010, 06:04 AM
Head Office: 275 Frank Tompa Drive, Waterloo
Ticker Symbols: OTC (TSX), OTEX (NASDAQ)
As of February 19, 2010 this is Waterloo Region's 2nd most valuable Publicly Traded Company with a Market Cap of $2.77 billion.
Head Office in the UW R&T Park
Corporate Overview: http://www.opentext.com/2/global/company.htm
Open Text, an enterprise software company and leader in enterprise content management, helps organizations manage and gain the true value of their business content. Open Text brings two decades of expertise supporting 50 million users in 114 countries. Working with our customers and partners, we bring together leading Content Experts to help organizations capture and preserve corporate memory, increase brand equity, automate processes, mitigate risk, manage compliance and improve competitiveness.
As a publicly traded company, Open Text manages and maximizes its resources and relationships to ensure the success of great minds working together.
Year Founded: 1991
Market Segment: Enterprise Content Management (ECM) Software
Fiscal Revenue 2009: US$785.7 million
Number of Employees: Approximately 3400
Flagship Product: Open Text ECM Suite
Stock Symbols: OTC (NASDAQ & TSX)
The Open Text ECM Suite, our flagship product, is designed to help you create value from content by empowering people, fostering process agility, and controlling the risk and cost of content. The Open Text ECM Suite drives efficiency, creates innovation, and enables compliance through its unique focus on people, process, and content.
02-20-2010, 06:05 AM
02-20-2010, 06:27 AM
Open Text reports $21.2-million US profit in second quarter
The Canadian Press with files from Record staff - February 03, 2010
WATERLOO – Open Text Corp. has turned in a second-quarter profit of $21.2 million US, up sharply from a year ago, boosted by strong revenue growth.
The software company, which keeps its books in U.S. dollars, said today it earned 37 cents per diluted share for the quarter ended Dec. 31 compared with a profit of $761,000 or a penny per share a year earlier.
Revenue totalled $247.8 million, up from $207.7 million.
The results exceeded expectations and marked a significant turnaround from the first quarter, when the company’s earnings dropped 88 per cent due to delays in orders and various charges, including restructuring charges related to last year’s acquisition of Vignette Corp.
“We had a very good quarter across the board — in all geographies and verticals,” chief executive John Shackleton said in a statement.
“Our strong license revenue growth has brought us to where we expected to be on a year to date basis.”
Open Text sells enterprise content management software, which helps companies store, share and retrieve information, and makes it easier for employees in different locations to work together.
In December, the company unveiled plans to double the size of its headquarters in the University of Waterloo Research and Technology Park. It said the expansion could add as many as 800 employees to its local workforce of 1,000.
Open Text reported the results after the markets closed. Its shares (TSX:OTC) were down 28 cents to $43.03 in trading today.
TSX drops on resources, but BCE, Open Text rise
By Ka Yan Ng - 04/02/10
TORONTO (Reuters) - Toronto's main stock market index fell sharply on Thursday morning, hurt by weaker commodity prices and intensifying worry about sovereign debt in some euro zone countries.
A drop in gold and oil prices helped to pull down key blue-chip resource stocks such as Suncor Energy , which fell 4 percent to C$31.39, and Barrick Gold , down 2.5 percent at C$37.09.
At 10:15 a.m., the Toronto Stock Exchange's S&P/TSX composite index <.GSPTSE> was down 193.87 points, or 1.7 percent, at 11,196.59. Eight of the index's 10 main groups were lower.
Solid quarterly results from BCE and Open Text helped to lift the telecoms and infotech groups, the only two sectors in positive territory.
"Open Text, BCE, and Cisco in the States had good numbers and they're all acting well. Other than that, there's a negative tone to the market. I don't see a lot of selling yet in terms of volume, but it just seems a bit of a buyers' strike," said Bruce Latimer, trader at Dundee Securities.
BCE Inc, the leading heavyweight advancer, was up 1.6 percent to C$28.05 after Canada's biggest communications company said it returned to profit in the fourth quarter.
Open Text gained 9 percent to C$46.96 after its quarterly profit surged and as several brokerages raised their price targets on the business software maker.
The Toronto index's drop was in line with sentiment that has knocked down overseas and U.S. stock markets, as Greece's fiscal troubles have sparked renewed financial market concern.
The woes have raised questions about the sustainability of public finances in peripheral euro zone countries after the global economic downturn sparked surges in public debt and budget deficits that compound long-running problems.
Open Text a rare winner yesterday
By Kim Covert, Financial Post - February 5, 2010
It was a bad day on the markets around the world, including the Toronto Stock Exchange, where Canada's benchmark index erased gains made earlier in the week to post its worst one-day slide since Oct. 1.
The S&P/TSX composite index closed down 261.7 points, or 2.3%, to 11,128.76 as the price of oil fell and gold took a $49-an-ounce drop. The Venture exchange was down 61.81 points, or 4.08%, to 1,452.18.
The Canadian dollar which, like the S&P/TSX, rises and falls with commodities prices, closed at US93.22¢, down 91 points.
A stronger U.S. dollar sapped some of the strength from oil and gold prices. On the New York Mercantile Exchange, oil closed $3.84 lower at US$73.14, while gold fell US$49 to US$1,063 an ounce.
Nine of the S&P/TSX's 10 subindexes closed lower, with only telecommunications posting positive results.
"With crude oil taking it on the chin, equity markets in retreat and the U.S. dollar soaring, it comes as no surprise really that the loonie has been sliding against the U.S. dollar and Japanese yen. What is interesting is that the Canadian dollar continues to outperform the euro, the pound and the Australian dollar, even though Canadian economic data was disappointing," said Colin Cieszynski, a market analyst with CMC Markets Canada.
"This suggests that even though the Canadian dollar may be facing some headwinds, investors still seem to view Canada as a relatively strong country."
Canadian gold and energy giants suffered from falling commodity prices, with Barrick Gold Corp., the world's largest gold producer, falling 4.2% to $36.45 and Suncor, the country's largest oil-and-gas company, taking a 2.97% hit to its stock price, closing at $31.71.
In a day when only 19 of the TSX composite index's 209 stocks rose, Canada's largest software company, Open Text Corp., was one of the bright spots on the index, rising 9.18% to $46.98 a share after posting a quarterly profit that topped estimates.
BCE Inc. also had a good day after posting fourth-quarter earnings of $350-million, or 46¢ a share, which met analysts' estimates, and offering a forecast for 2010 that exceeded them. It gained 2.5% to $28.31.
The S&P/TSX joined other major North American and European markets in posting significant losses Thursday, linked largely to debt problems in countries such as Greece, Spain and Portugal.
In the U.S., the Dow Jones industrial average shed 268.37 points, or 2.61%, to 10,002.18. The Nasdaq composite index was 65.48 points, or 2.99%, lower at 2,125.43.
Asian markets were also lower.
02-22-2010, 01:14 PM
Open Text to Acquire Nstein Technologies
Waterloo, Ontario and Montreal, Quebec - 2010-02-22 - Open Text Corporation (NASDAQ:OTEX) (TSX: OTC), the preeminent provider of Enterprise Content Management (ECM) capabilities, and Nstein Technologies Inc. (TSX-V: EIN), a leader in digital content management solutions for information-rich organizations, today announced that they have entered into a definitive agreement by which Open Text will acquire all of the issued and outstanding common shares of Nstein through an Nstein shareholder-approved amalgamation with a subsidiary of Open Text under the Companies Act (Québec).
Based on the terms of the definitive agreement, Nstein shareholders will receive for each Nstein common share, CDN $0.65 in cash, unless certain eligible shareholders otherwise elect to receive a fraction of an Open Text TSX traded common share, having a value of CDN $0.65 based on the volume weighted average trading price of Open Text TSX traded common shares in the 10 trading day period immediately preceding the closing date of the acquisition. This purchase price represents a premium of approximately 100 percent above the 30 trading day average closing price of Nstein's common shares. The transaction is valued at approximately CDN $35 million.
According to Open Text President and Chief Executive Officer John Shackleton, Nstein will extend the breadth of Open Text's ECM offerings and further Open Text's position as the leading independent ECM vendor in the marketplace. Based in Montreal, Nstein's solutions are sold across major market segments, such as media and information services, life sciences and government.
"This is a good fit for two strong Canadian companies," said Shackleton. "With Nstein, we have an opportunity to continue to grow as Canada's largest software company, expanding Open Text's presence in Quebec. Nstein will also add complementary technology and expertise that enhances our ECM solutions portfolio."
"This agreement helps Nstein take its next major step into the future," said Luc Filiatreault, President and Chief Executive Officer of Nstein. "We've always been committed to delivering innovative solutions to our customers and partners. Our agreement with Open Text is in keeping with this commitment. Customers will benefit from an expanded ECM solutions portfolio, and a shared vision for innovative solutions going forward."
The transaction is expected to close in the second calendar quarter and is subject to customary closing conditions, including approval of two-thirds of the votes cast by Nstein's shareholders and applicable regulatory and stock exchange approvals. A special meeting of Nstein's shareholders is expected to be held to consider the amalgamation in early April, 2010.
The definitive agreement includes customary non-solicitation and right to match provisions and Nstein has agreed to pay Open Text a termination fee in certain circumstances if the amalgamation is not completed. Nstein's Board of Directors received a fairness opinion from Pagemill Partners L.L.P. that the consideration to be received under the amalgamation is fair from a financial point of view to Nstein shareholders. The directors and officers of Nstein, and certain shareholders of Nstein, collectively representing in aggregate approximately 48 percent of the issued and outstanding shares of Nstein have agreed to enter into voting agreements with Open Text to vote in favour of the amalgamation.
About Open Text
Open Text, the enterprise content management leader, helps organizations manage and gain the true value of their business content. Open Text brings two decades of expertise supporting 100 million users in 114 countries. Working with our customers and partners, we bring together leading Content Experts(TM) to help organizations capture and preserve corporate memory, increase brand equity, automate processes, mitigate risk, manage compliance and improve competitiveness. For more information, visit www.opentext.com.
About Nstein Technologies Inc.
Nstein Technologies Inc. (TSX-V: EIN) provides next generation content management solutions that help information-rich enterprises centralize, understand and manage vast amounts of content. At the heart of Nstein's solutions, semantic analysis allows information to be easily found and packaged together - so it can be connected to the right internal and external audiences. Nstein's Content Management and Web Publishing solutions both rely on Nstein's patented Text Mining Engine for semantic and text analysis. This unlocks content's value and allows clients (from an array of different industries) to leverage existing content to: create and deliver new products; facilitate internal and external research and knowledge sharing; and reduce content-related costs.
03-04-2010, 12:45 AM
Open Text to create 400 jobs
By Brent Davis, Record staff - March 03, 2010
WATERLOO — The province will invest nearly $34 million in software developer Open Text as the high-tech firm creates hundreds of new jobs in Ontario over the next five years.
The Waterloo-based company plans to spend a total of $225 million over the next five years on research and development, a project that will create nearly 400 “high-value” jobs at its operations in Waterloo, Richmond Hill and Ottawa.
The official announcement was expected to come today in Toronto, and it’s not yet clear how the jobs will be distributed among the three locations.
“That’s obviously a very top-of-mind question for me,” said John Milloy, minister of research and innovation and also Kitchener Centre MPP, in an interview Wednesday.
Milloy said Open Text isn’t able to project the number of positions for each site yet. “The work will, in a sense, drive the number and location of the jobs.”
The announcement at Toronto’s Design Exchange was expected to be attended by Milloy, Sandra Pupatello, minister of economic development and trade; Reza Moridi, Richmond Hill MPP; and Tom Jenkins, Open Text executive chair.
The provincial grant, part of the Next Generation of Jobs Fund, serves to reinforce Ontario’s position as a leader in information technology, Milloy said.
“Companies like Open Text serve as a bit of an anchor in our community,” he said. “Open Text is one of the leaders around the world.”
In a news release, the company said its research and development into emerging market sectors, such as green computing, mobile applications and high-performance systems, will help it capture a larger share of an ever-growing industry.
“The digital media revolution is creating tremendous opportunities for growth and innovation,” said Jenkins. “Open Text is committed to a long-term growth strategy within Ontario.”
The province says its Next Generation of Jobs Fund has secured nearly 6,000 new positions and more than $3 billion in industry investment, including about $590 million in government grants, over the next five years.
Asked whether other companies in Waterloo Region could expect similar grants, Milloy said “the province continues to work with leading-edge companies across the board.
“We’re going to continue to make our region a priority as we focus on many of these new industries,” he said.
Open Text to hire nearly 400 workers at Ontario locations over next five years
From The Canadian Press, March 4, 2010 - 6:10 p.m.
TORONTO - Open Text Corp. (TSX:OTC) says it plans to increase its workforce by nearly 12 per cent over the next five years as it adds new jobs in Waterloo, Ont., Richmond Hill and Ottawa.
The Waterloo-based software firm said Thursday that 400 new jobs would be added as part of a $225-million product development plan partly funded by the provincial government.
"One of the drivers for this investment is the digital media sector which offers opportunity for growth and innovation," said president and chief executive John Shackleton of Open Text.
The Ontario government will contribute $33.75 million to the initiative.
"This is a strategic investment that anchors Open Text's operations in the province and furthers Ontario's reputation as a leader in digital media and information and communications technology," said Sandra Pupatello, Ontario's Minister of Economic Development and Trade.
As of last June, Open Text had 3,411 employees across its operations.
Shares of the company slipped nine cents to close at $49.60 Thursday on the Toronto Stock Exchange.
03-24-2010, 06:00 AM
Open Text Targets User Productivity With New Mobile Strategy
Open Text Everywhere Unleashes Business Content, Processes and Applications to Follow Mobile Users on the Go
Waterloo, ON - 2010-03-23 - Open Text Corporation (NASDAQ: OTEX, TSX: OTC), the preeminent provider of Enterprise Content Management (ECM) software, said today it's extending the reach of its ECM solutions to mobile devices in a bold new strategy designed to help organizations harness the power of today s mobile workforce to increase productivity.
As part of its strategy, the company is unveiling a new application called Open Text Everywhere that will make the entire Open Text ECM Suite available via mobile devices. Focusing initially on BlackBerry® smartphones, the company announced a first set of mobile applications today with plans for more in the year ahead.
The time is right for mobile content applications, as smartphones gain in power and grow as a critical tool for productive workers on the go. According to IDC*, the number of mobile workers accessing enterprise systems worldwide will top one billion this year.
This increasingly mobile workforce will demand access to more enterprise content, business processes and collaborative tools normally reserved for the desktop or laptop. Today, the biggest applications dominating smartphones are email, calendaring, messaging, personal contacts, and entertainment.
"We call them 'smartphones' but the fact is they can take over the role of laptops," said Eugene Roman, Chief Technology Officer at Open Text. "The power of smartphones is only growing and they offer an entirely new platform to extend the productivity of workers in ways we never imagined just a few years ago."
For example, a September, 2009 study** by Forrester Consulting stated: "BlackBerry devices enable workers to be more efficient and productive in their daily work activities. These productivity benefits vary depending on the type of employee using the BlackBerry device, the range of mobile applications deployed over these devices, and the maturity deployment stage of the organization. For example sales professionals can improve weekly productivity by 1 to 2 hours per week in a reactive deployment organization, 4 to 7 hours per week in a proactive organization, and 13 to 21 hours per week in an integrative organization. Significant productivity benefit ranges are also achieved by field service and executive management personnel."
"Statistics like those are hard for senior management to ignore as they look to grow their business with shrinking budgets," said Roman. "Business doesn't stop when we leave the desktop or the laptop. It's time to unleash business content, processes and applications to go wherever employees need them on a smartphone. Open Text Everywhere will let CIOs extend the productivity power of mobility across their business."
Open Text Everywhere will deliver a comprehensive view of business processes, content and workplace social collaboration tools via native applications unique to each mobile platform. Open Text's first applications will be introduced for BlackBerry smartphones, but the company also plans to support other mobile operating systems in its product strategy. Open Text Everywhere uses the BlackBerry platform's secure connection transportation layer for fully encrypted wireless communication, and uses the same permission model to allow mobile users to access content in the Open Text ECM Suite.
The company's first Open Text Everywhere applications, featured in a video here (http://www.opentext.com/everywhere), will be released to customers in early May. The applications include the ability to:
Manage everywhere -- documents and content: The ability to browse folders, and search, view, manage and email documents stored in the Open Text ECM Suite. This application includes content viewers capable of rendering special file formats, such as PowerPoint onto a mobile screen.
Engage everywhere through process workflows: The ability to initiate business workflows, attach and view documents related to a business process, approve or reject workflows; all through a user experience designed natively for a mobile device.
Collaboration everywhere using social media: Utilize Open Text's collaboration and social tools, including participating in communities, viewing and adding to social community wikis and blogs, connecting with users and getting important information from member profiles.
Open Text's plans to expand its mobile ECM applications include the following:
Mobile applications for Vendor Invoice Management and other Transactional Content Management solutions, integrated with SAP. The applications will allow users to manage content and processes for SAP-based transactions while on the road.
Mobile applications for its eDOCS document management solution targeting mid-market enterprises, and mobile social media applications based on Vignette Community Services and Vignette Community Applications.
A mobile email management application that lets customers manage email for legal, regulatory or corporate governance rules.
A mobile website content management application that allows customers to manage and post web content, respond to emergencies or manage outages.
Longer term, Open Text plans to develop a mobile media management application that lets users import mashed up content images, video and text straight from a smartphone into secure, searchable repositories or online corporate social networks.
To learn more about Open Text Everywhere, go to: www.opentext.com/everywhere. Blackberry users can also go to http://m.opentext.com
About Open Text
Open Text, the preeminent enterprise content management software solutions company, helps organizations manage and gain the true value of their business content. Open Text brings two decades of expertise supporting 100 million users in 114 countries. Working with our customers and partners, we bring together leading Content Experts to help organizations capture and preserve corporate memory, increase brand equity, automate processes, mitigate risk, manage compliance and improve competitiveness. For more information, visit www.opentext.com.
*CIO Zone: IDC: Mobile Workers Will Pass 1 Billion in 2010: http://www.ciozone.com/index.php/Mobile-and-Wireless/IDC-Mobile-Workers-Will-Pass-1-Billion-in-2010.html
**Forrester Consulting, September 2009, Economic Impact Of A BlackBerry Solution In North American Enterprises
04-26-2010, 09:11 PM
Open Text to buy Burntsand for $11 million
April 26, 2010
The Canadian Press
WATERLOO — Open Text Corp. has signed a deal to buy Burntsand Inc. in a deal worth about $11 million in cash.
Burntsand, a 14-year-old company headquartered in Toronto, provides technology consulting services in areas such as enterprise content management, collaboration and service management.
Waterloo-based Open Text is a leader in enterprise content management. It develops software that companies use to store and organize content, and allow workers in different locations to collaborate.
Under the agreement, announced late Monday, Burntsand shareholders will receive 15 cents per share.
Burntsand shares closed up 2.5 cents at 9.5 cents on the Toronto Stock Exchange on Monday.
“This acquisition reflects the proven value of Burntsand’s people and solutions in the marketplace” Burntsand chief executive Martin Glover said in a statement.
“Our customers will benefit from the vision of the combined companies to provide a broader and deeper range of industry solutions in the future. We are also pleased that we could deliver a premium value to our shareholders.”
The deal is expected to close in the second quarter and requires approval by at least two thirds of the votes cast at a Burntsand shareholder meeting to be held on May 27.
The directors and officers of Burntsand, and one shareholder of Burntsand, collectively holding a 21.7 per cent stake in the company have entered into voting agreements to vote in favour of the Open Text deal.
Last week, Trimin Capital Corp., a company owned by James Meekison, acquired an 18 per cent stake in Burntsand Inc.
Trimin acquired the nearly 13.2 million shares in Burntsand from Interactive Selling for roughly $856,000 or 6.5 cents per share.
Open Text’s shares closed down $1.72 at $48.11 on the Toronto Stock Exchange.
04-30-2010, 12:49 AM
Open Text Reports Third Quarter Fiscal 2010 Financial Results
Waterloo, Ontario - 2010-04-29 - Open Text(TM) Corporation (NASDAQ:OTEX) (TSX:OTC), today announced unaudited financial results for its third quarter ended March 31, 2010. (1)
Total revenue for the third quarter of Fiscal 2010 was $212.8 million, up 11% compared to $192.0 million for the same period in the prior fiscal year. License revenue in the third quarter was $49.5 million, down 5% compared to $51.9 million for the same period in the prior fiscal year.
Adjusted net income in the quarter was $40.3 million or $0.70 per share on a diluted basis, up 28% compared to $31.4 million or $0.59 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 $13.1 million or $0.23 per share on a diluted basis, compared to $22.0 million or $0.41 per share on a diluted basis for the same period in the prior fiscal year. (2)
The cash and cash equivalents balance as of March 31, 2010 was $321.3 million, compared to $275.8 million as of June 30, 2009. During the nine months ended March 31, 2010, the net cash paid for the Vignette acquisition was $90.6 million. Net accounts receivable as of March 31, 2010, totaled $122.6 million, compared to $115.8 million as of June 30, 2009, and Days Sales Outstanding (DSO) remained stable at 52 days in both the third quarter of Fiscal 2010, and in the same period in the prior fiscal year. Operating cash flow in the third quarter of Fiscal 2010 was $78.0 million.
“I am pleased that we maintained our margin targets and met our profit goals”, said John Shackleton, President and Chief Executive Officer of Open Text. “We experienced greater seasonality than in previous years, however I’m confident that Fiscal 2010 is tracking to plan. With the addition of Nstein’s analytics-based search technology and a number of new product releases, we are delivering additional powerful solutions that will help our customers gain greater value from their content.”
Please see note (2) below for a reconciliation of non-US GAAP based financial measures used in this press release, to US GAAP based financial measures.
Open Text will host a conference call on April 29, 2010 at 5:00 p.m. ET to discuss the financial results of its third quarter.
Thursday, April 29, 2010 | 5:00 p.m. ET/2:00 p.m. PT | 60 minutes | 416-644-3416 | 800-814-4860 (Toll Free)
Please dial-in approximately 10 minutes before the teleconference is scheduled to begin. A replay of the call will be available beginning April 29, 2010 at 7:00 p.m. ET through 11:59 p.m. on May 13, 2010 and can be accessed by dialing 416-640-1917 and using pass code 4282062 followed by the number sign.
For more information or to listen to the call via Web cast, please use the following link: http://www.opentext.com/2/ex_event.html?evtype=events&id=701200000003U3hAAE
08-20-2010, 02:55 AM
Open Text Reports Fourth Quarter and Fiscal Year-End 2010 Financial Results
Waterloo, Ontario | 2010-08-18 | Link (http://www.opentext.com/2/global/press-release-details.html?id=2396)
Open Text(TM) Corporation, today announced financial results for its fourth quarter and fiscal year ended June 30, 2010. (1)
Total revenue for the fourth quarter of fiscal 2010 was $240.0 million, up 18% compared to $203.4 million for the same period in the prior fiscal year. License revenue in the fourth quarter of fiscal 2010 was $68.5 million, up 9% compared to $63.0 million for the same period in the prior fiscal year.
Adjusted net income in the fourth quarter of fiscal 2010 was $54.9 million, up 40% compared to $39.2 million for the same period in the prior fiscal year. Adjusted earnings per share for the fourth quarter of fiscal 2010 was $0.95 per share on a diluted basis, up 30% compared to $0.73 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 $51.5 million or $0.89 per share on a diluted basis, compared to $19.5 million or $0.36 per share on a diluted basis for the same period in the prior fiscal year. (2)
Total revenue for fiscal 2010 was $912.0 million, up 16% compared to $785.7 million in the prior fiscal year. License revenue for fiscal 2010 was $238.1 million, up 4% compared to $229.8 million in the prior fiscal year.
Adjusted net income for fiscal 2010 was $178.0 million compared to $132.8 million in the prior fiscal year. Adjusted earnings per share for fiscal 2010 was $3.10 per share on a diluted basis, up 24% compared to $2.49 per share on a diluted basis, in the prior fiscal year. Net income for fiscal 2010 in accordance with US GAAP was $87.6 million, or $1.53 per share on a diluted basis, compared to $56.9 million, or $1.07 per share on a diluted basis, in the prior fiscal year. (2)
Operating cash flow in the fourth quarter of fiscal 2010 was $65.2 million, compared to $38.6 million for the same period in prior fiscal year. For the full 2010 fiscal year, Open Text generated $180.2 million in operating cash flow compared to $176.2 million in fiscal 2009.
The cash and cash equivalents balance as of June 30, 2010 was $326.2 million. Accounts receivable as of June 30, 2010, totaled $132.1 million, compared to $115.8 million as of June 30, 2009, and Days Sales Outstanding (DSO) was 50 days in the fourth quarter of fiscal 2010, compared to 51 days in the fourth quarter of fiscal 2009.
"Our focus for the year has been on profitability and I am pleased that in this difficult economic environment, we have exceeded our profitability targets with disciplined cost control," said John Shackleton, President and Chief Executive Officer of Open Text. "Demand for vertical solutions, as well as customer need for compliance and back office efficiencies, continue to contribute to our strong pipeline."
Please see note (2) below for a reconciliation of non-US GAAP based financial measures used in this press release, to US GAAP based financial measures.
08-20-2010, 03:13 AM
OTC had the largest percentage gain on the TSX yesterday (excluding penny stocks). :RpS_thumbup:
Change: $6.39 (16.64%)
Net Income of $178.0 million eh? I wonder if they'll get a call from the LRT planners. :RpS_tongue:
02-03-2011, 04:26 PM
Open Text Reports Second Quarter Fiscal 2011 Financial Results
Waterloo, Ontario - 2011-02-02 | Link (http://www.opentext.com/2/global/press-release-details.html?id=2460) | PDF (http://mimage.opentext.com/alt_content/binary/ot/investor/2011/fy2011q2-presentation.pdf)
Open Text Corporation, today announced unaudited financial results for its second quarter ended December 31, 2010. Total revenue for the second quarter of fiscal 2011 was $267.5 million, up 7.9% compared to $247.8 million for the same period in the prior fiscal year. License revenue for the second quarter of fiscal 2011 was $79.2 million, up 8.9% compared to $72.7 million for the same period in the prior fiscal year.
Adjusted net income for the second quarter of fiscal 2011 was $70.5 million or $1.21 per share on a diluted basis, up 41% compared to $50.1 million or $0.87 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 $37.1 million or $0.64 per share on a diluted basis, compared to $21.2 million or $0.37 per share on a diluted basis for the same period in the prior fiscal year.
Operating cash flow in the second quarter of fiscal 2011 was $40.0 million, compared to $32.5 million for the same period in the prior fiscal year.
The cash and cash equivalents balance as of December 31, 2010 was $340.8 million. Accounts receivable as of December 31, 2010 totaled $135.3 million, compared to $132.1 million as of June 30, 2010 and Days Sales Outstanding (DSO) was 44 days in the second quarter of fiscal 2011, compared to 52 days in the second quarter of fiscal 2010.
"We had an excellent quarter. With license sales rebounding, our sales groups are performing well in all regions," said John Shackleton, President and Chief Executive Officer of OpenText. "We are encouraged by the level of demand for our compliance based solutions, especially in the financial services and energy verticals, and I am confident that we are on track to meet our targets for the fiscal year."
02-03-2011, 05:28 PM
Amazing Report! OTC surged 11.69% today to hit a new record high of $55.90. Market Capitalization now stands at $3.19 billion. Go Waterloo Tech! :RpS_thumbup:
02-04-2011, 08:46 AM
Open Text to acquire American software firm
February 4, 2011 | Wonderful Waterloo
Open Text announced Wednesday that hat it has reached an agreement to buy Metastorm Inc., a Baltimore based software firm, for $182 million.
The acquisition will be made through a merger of Metastorm with a subsidiary of OpenText.
"We are excited by the opportunity to join the OpenText team," said Robert Farrell, Chairman and Chief Executive Officer of Metastorm.
"Metastorm will add complementary technology and expertise that enhances our ECM solutions portfolio," said John Shackleton, President and Chief Executive Officer of OpenText. "We look forward to welcoming its employees and customers to OpenText."
The acquisition allows for more products to be offered by two companies combining forces. "Combined with OpenText, Metastorm will be able to provide a broader and deeper range of offerings to our customers, while leveraging the strength and stability that comes with being part of a larger global organization” said Farrell.
Based on the terms of the agreement, Metastorm stockholders will receive $182 million in cash, subject to a customary indemnification holdback. Stockholders representing a majority of the ownership of Metastorm have signed conditional support agreements in support of the transaction.
Metastorm is a provider of Business Process Management (BPM), Business Process Analysis (BPA), and Enterprise Architecture (EA) software for aligning strategy with execution.
The acquisition comes on the heels of Open Text releasing its second quarter 2011 fiscal results where the company saw increased revenue, net income and cash flow. Operating cash flow was also up in the second quarter of fiscal 2011 being reported at $40.0 million, compared to $32.5 million for the same period in the prior fiscal year.
03-08-2011, 11:17 AM
OpenText Accelerates Mobile App Strategy with weComm Acquisition Agreement
With weComm, OpenText Enters a High-Growth Market to Help Companies Deliver Mobile Apps For Any Device to Reach Their Customers, Consumers
March 8, 2011 | Link (http://www.wecomm.com/_blog/WeComm_Blog)
Waterloo, ON., Canada, and London, UK – OpenText™ announced today it has reached an agreement to acquire London-based weComm, a deal that will propel OpenText forward in a fast-growing segment of the mobility market. weComm’s leading technology will facilitate OpenText delivering a strategic platform to companies which will help them provide rich, immersive mobile apps cost-effectively across the multitude of mobile operating systems and devices to reach their customers, consumers or partners.
“As mobile devices are changing the consumer landscape, more enterprise customers are moving to mobile apps to reach everyone from customers to employees,” said Eugene Roman, Chief Technology Officer at OpenText. “This advanced technology allows our customers to rapidly deliver highly functional apps on all types of devices economically, giving them an enormous edge over their competitors both in efficiency and time to market.” According to Roman, weComm will enable OpenText to accelerate the mobility strategy it launched in 2010 with the introduction of OpenText Everywhere (http://www.opentext.com/2/global/press-release-details.html?id=2336).
Founded in 1999 and serving major customers today, weComm is a pioneer of the mobile application industry. The company’s innovative software platform offers fast, low-cost deployment of high-quality, media rich applications for all leading mobile devices, including smartphones and tablets -- iPhone, iPad, Android, Blackberry, Windows Mobile, Symbian, Java -- more than 900 devices in all.
Because weComm’s WAVE platform is technology agnostic, it helps solve the biggest problem corporate customers, government organizations and app creators have today: The dilemma of whether to select a single platform for app delivery or to incur the high cost of porting, deploying, updating and maintaining apps across the entire landscape of devices. Without such technology, inclusivity comes at a very high price in the mobile app world.
“weComm’s device-independent platform adds real value over the other options our enterprise customers have today,” said Roman. “weComm offers exciting leading-edge technology and a great new opportunity for OpenText. It’s a logical fit for our major brand-name customers, in banking, retail, media and entertainment and other markets no matter what type of content application they use.”
A Natural Move
The move into mobile apps is a natural one for OpenText which today is a leading provider of Web experience management solutions and digital asset management software. Adding a powerful platform for mobile apps gives OpenText a full array of capabilities to meet the evolving needs of enterprise CMOs. The next iteration of Web experience management systems requires mobile content creation, development and delivery. The combination of its existing customer engagement offerings and the weComm WAVE platform puts OpenText in pole position, ahead of other Enterprise Content Management vendors in the battle for the Mobile Enterprise Application Platform market.
weComm also strengthens OpenText Everywhere’s position in mobile ECM by providing enterprises with the ability to create, deliver, and maintain mobile applications to their employees for all mobile operating systems. OpenText Everywhere provides pre-packaged mobile applications for the OpenText ECM Suite focused on collaboration, document management and workflows. With weComm, OpenText can also offer mobile applications and solutions in a compliance-based environment, requiring security and policy controls as well as develop and deliver content based mobile applications that may be consumed by anyone.
weComm, OpenText Agreement
Details of the transaction were not disclosed. The transaction is expected to close this quarter, subject to customary closing conditions. The acquisition does not bring significant pre-existing revenues or profit. Details will be disclosed in the OpenText next regular quarterly release.
07-13-2011, 03:10 PM
OpenText Acquires Global 360
Deepens Commitment to Business Process Management (BPM) and Accelerates Move into Dynamic Case Management Market
July 13, 2011 | OpenText | Link (http://www.opentext.com/2/global/press-release-details.html?id=2553)
OpenText announced today it has acquired Global 360 Holding Corporation, a leading provider of process and case management solutions. The acquisition continues OpenText s expansion into the fast growing business process management (BPM) market, adding to its technology, talent, services, partner and geographical strengths, as well as giving the company important new capabilities in dynamic case management.
The transaction purchase price is approximately $260 million (1), subject to customary purchase price and holdback adjustments. Global 360 has generated approximately $90 million in trailing twelve months revenue and is profitable. The transaction has closed in the first quarter of fiscal 2012 and is not part of the fiscal 2011 fourth quarter and year-end results of OpenText. The management team of OpenText will provide further information regarding the future plans of the combined company when it provides fiscal year-end results on August 10, 2011.
Many global organizations about sixty percent -- already connect their Enterprise Content Management (ECM) and BPM projects under a single strategy. Customers are moving in this direction and we are accelerating our investment in leading content, process and case management solutions as a result, said John Shackleton, President and Chief Executive Officer of OpenText. With the addition of Global 360, we will be able to offer organizations a complete spectrum of solutions from a strong, independent and global solutions provider.
Global 360, headquartered in Dallas, Texas with customers in 70 countries, is known for its case management solutions, its document-centric BPM, and its emphasis on usability and user experience in its software. In February 2011, OpenText also acquired Metastorm (http://www.opentext.com/2/global/press-release-details.html?id=2467), a BPM leader with strong and complementary capabilities, including support for human-centric BPM. Metastorm also offers other solutions that complement Global 360, such as business process analysis and enterprise architecture software.
This increased investment in the BPM market demonstrates OpenText s focus on strategic acquisitions of technologies that build out its extended portfolio of solutions. The two acquisitions bring an extended base of expertise some 300 people in R&D alone dedicated to BPM and dynamic case management solutions, plus a further reach in key verticals such as financial services, energy, government, life sciences and other industries. OpenText can now solve a much broader range of customer requirements, and at the same time extend its reach across all facets of solutions involving content and business processes
Dynamic Case Management
Global 360 s strength in case management accelerates OpenText s ability to deliver dynamic case management solutions. Dynamic case management has emerged from the convergence of ECM, BPM, analytics, and user experience technologies. It has become an important new set of solutions addressing some of the key problems organizations deal with that combine BPM, with an increased focus on content.
The major, case-based operations in large organizations are heavily dependent on content and process management, for example, loan processing, complaint management, claims processing and customer on-boarding. All of these solutions can benefit from dynamic case management, which more effectively combines content, processes and collaboration, said Eugene Roman, Chief Technology Officer, OpenText. Dynamic case management is the kind of technology customers are moving to and it ties together the strengths we re building in our ECM and BPM portfolios.
Top BPM Provider for the Microsoft Ecosystem
Global 360, like OpenText and Metastorm, is known for its BPM solutions for Microsoft customers. Global 360 is a Microsoft Gold Certified Partner and is part of the Microsoft SharePoint ISV Partner Advisory Council which provides guidance and feedback for SharePoint product strategy. Global 360 was also recently honored with two Microsoft Partner of the Year (http://www.global360.com/partner-of-the-year/2011) awards, including ISV Partner of the Year. The combined expertise, and mix of process and content solutions that integrate with Microsoft, continue to add to OpenText's position as a leading Microsoft partner and a key provider of solutions that support and extend SharePoint and other Microsoft offerings.
"With its strategic emphasis on content, process and dynamic case management, plus its strong Microsoft relationship, OpenText is a great fit for our customers and our team," said Steve Russell, Global 360 s Senior Vice President, Research & Development and CTO. "Customers can expect us to continue to deliver our leading solutions, plus gain even greater value through access to an expanded solutions portfolio and the support of a much larger company."
According to OpenText CTO Roman, with the strong portfolios of both Global 360 and Metastorm, OpenText is committed to the current product roadmaps of both companies, and plans to continue to support products from both companies. On Monday, OpenText announced that Metastorm released (http://www.opentext.com/2/global/press-release-details.html?id=2551) a major new version of its BPM software, as well as other new solutions.
OpenText to Raise New Debt
OpenText intends at the appropriate time to amend and restate its existing senior secured credit facilities for the purposes of increasing the company s and its subsidiaries liquidity and access to capital for general corporate purposes, including future growth, and extending their maturity dates. The amended and restated credit facilities are anticipated to include approximately $600 million of funded term loans, a portion of which will be used to refinance OpenText s existing term loan maturing in 2013 and to repay outstanding borrowings under OpenText s existing revolving credit facility which were made to complete the company s acquisition of Global 360. Additionally, OpenText anticipates obtaining additional liquidity in the form of a revolving credit facility and delayed draw term loans in connection with the amending and restating of its credit facilities. Each of these tranches are expected to have new maturity dates. The company has no current intention to utilize any delayed draw term loan.
OpenText has appointed Barclays Capital and RBC Capital Markets as joint lead arrangers and joint bookrunners of the amended and restated credit facilities.
Global 360 was advised by Spurrier Capital Partners, a technology-focused M&A advisory firm based in New York.
09-06-2011, 12:19 PM
OpenText Acquires Operitel
Adds E-Learning Capabilities to ECM Suite; Integrates with SharePoint; Offers Social and Mobility Functionality
September 6, 2011 | OpenText | Link (http://www.opentext.com/2/global/press-release-details.html?id=DCED3D8215F740999BECC01DC46E7239)
Open Text Corporation announced today it has acquired Operitel Corporation, a company specializing in Learning Management Systems (LMS) and Enterprise Learning Portals. The acquisition adds powerful e-learning capabilities to OpenText s solutions. Operitel s solutions include social and mobile learning management and capabilities that integrate with Microsoft® SharePoint.
"Given the scale of content and process management solutions we re providing to global organizations today, integrated e-learning is becoming an integral part of the high value solution we provide," said John Shackleton, President and Chief Executive Officer of OpenText. "This acquisition will complement and extend OpenText s solutions, providing award-winning LMS functionality to our global customer base. Operitel customers benefit from access to the resources and stability of Canada s largest software company."
With Operitel s flagship product, LearnFlexTM Learning Management System, customers can offer efficient learning services to their employees and customers. With additional strong mobile and social offerings, Operitel s LMS technology further enhances and broadens functionality available to customers of OpenText s ECM Suite. Customers can utilize Operitel s solutions to deliver, track, and validate internal learning across their organizations. These learning services are especially critical for ensuring timely compliance with organizational and industry-specific regulatory requirements capabilities that complement OpenText s traditional strengths in compliance, information governance, and records management.
LearnFlex, which has received multiple awards, is built on Microsoft® s .NET platform and is both a Microsoft Partner and a tier one Microsoft Official E-Learning reseller. Operitel builds solutions that support and extend Microsoft SharePoint. OpenText is a leader in providing solutions that integrate with SharePoint and Microsoft Office. For SharePoint, OpenText offers BPM, application governance and archiving solutions. With Operitel, OpenText continues to add to its position as a leading Microsoft partner and a key provider of solutions that support and extend SharePoint.
"Operitel was built with the basic principle of putting the client first and concentrating on innovative solutions that are leading edge and enterprise scalable," said Michael Skinner, Chief Executive Officer of Operitel. "I believe the acquisition of Operitel by OpenText is an excellent opportunity to provide our customers and partners assurance that we will continue to respond to their needs while at the same time leveraging the extended resources of a larger enterprise."
Operitel is headquartered in Peterborough, Ontario, Canada. Mr. Skinner will continue to lead the Operitel team within OpenText.
10-26-2011, 03:40 PM
Move over RIM, Open Text’s got the spotlight
Monday, October 24, 2011 2:28PM EDT | Tim Kiladze | Globe and Mail Update | Link (http://www.theglobeandmail.com/globe-investor/investment-ideas/streetwise/move-over-rim-open-texts-got-the-spotlight/article2211743/)
Research in Motion, once hailed as Canada’s one true technology god, has long dominated our tech conversations.
Yet lately our tone has changed, and so have our attitudes. A few years ago, no one wanted to hear about another tech company, whereas today Open Text, another Waterloo, Ont., sensation, is getting some buzz.
Make no mistake, Open Text has been around for a while. It’s just that the company is finally getting the attention it deserves. Open Text has put up 30 per cent annual earnings growth for the past five years, and that performance is getting noticed by investors who are less and less preoccupied with RIM.
...Mr. Tse is extremely bullish on the stock, and most of his peers are too. Their commentary is particularly important right now because the company reports earnings after the market closes on Wednesday, and most people expect the growth story to continue. That’s because both its partners and comparable companies are still growing. SAP pre-announced strong third quarter revenue, and IBM’s software revenue grew by 8 per cent year over year...
10-26-2011, 04:09 PM
Open Text Reports First Quarter Fiscal 2012 Financial Results
October 26, 2011 4PM | Open Text | Link (http://www.opentext.com/2/global/press-release-details.html?id=3843EBB5D6124918BEE5322156BC6060)
Waterloo, Ontario - Open Text Corporation, today announced financial results for its first quarter ended September 30, 2011.
Total revenue for the first quarter of fiscal 2012 was $288.0 million, up 32.5% compared to $217.4 million for the same period in the prior fiscal year. License revenue for the first quarter of fiscal 2012 was $65.0 million, up 52.5% compared to $42.6 million for the same period in the prior fiscal year
Adjusted net income for the first quarter of fiscal 2012 was $59.0 million or $1.01 per share on a diluted basis, up 18.0% compared to $50.0 million or $0.86 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 $35.0 million or $0.60 per share on a diluted basis, compared to $21.7 million or $0.37 per share on a diluted basis for the same period in the prior fiscal year.
The cash and cash equivalents balance as of September 30, 2011 was $119.3 million. Accounts receivable as of September 30, 2011 totaled $143.8 million, compared to $154.6 million as of June 30, 2011 and Days Sales Outstanding (DSO) was 45 days in the first quarter of fiscal 2012, compared to 43 days in the first quarter of fiscal 2011.
With strong sales globally and particular strength in emerging markets, I am pleased with our performance in the first quarter, said John Shackleton, President and Chief Executive Officer, Open Text. As we address an even larger global market, we continue to win new business with the breadth of functionality in our integrated ECM Suite.
The following charts provide (unaudited) reconciliations of US GAAP based financial measures to non-US GAAP based financial measures for the three months ended September 30, 2011, as referred to in this press release:
05-01-2012, 06:08 PM
OpenText Buys EasyLink Reports Third Quarter Fiscal Year 2012 Financial Results
May 1, 2012 | Open Text | Link (http://www.opentext.com/2/global/press-release-details.html?id=B6203ECCB953437089CFC00023BA9C91)
Open Text Corporation, announced today that is has entered into an agreement to acquire EasyLink Services International Corporation ( EasyLink ) (Nasdaq: ESIC) (www.EasyLink.com), a global provider of cloud-based electronic messaging and business integration services, for $7.25 per share in cash, for a purchase price of approximately $310 million, inclusive of debt. Headquartered in Atlanta, Georgia, EasyLink has approximately 550 employees and TTM revenues of approximately $186 million. (1)
The Board of Directors of EasyLink has unanimously approved the transaction. The transaction is expected to close by mid-to-late summer 2012, subject to EasyLink's stockholder approval, certain regulatory approvals and customary closing conditions.
"Easylink is a recognized leader in cloud-based Secure Information Exchange. We see strong opportunities for our mutual customers, partners, employees and product roadmap," said OpenText CEO Mark J. Barrenechea. "EasyLink has demonstrated operational discipline and earnings as reflected in their financial results. Once the transaction is closed, we look forward to the market opportunities of offering a best-in-class combined portfolio of cloud-based services."
OpenText also announced unaudited financial results for its third fiscal quarter ended March 31, 2012.
Financial Highlights for Q3 FY12
Total revenue for the period was $292.3 million up 11.1% Y/Y
License revenue was $61.0 million, down 10.1% Y/Y; up approximately 14% on a year-to-date basis, Y/Y
GAAP-based EPS was $0.59 compared to $0.61 Y/Y; Non-GAAP-based EPS was $1.01 compared to $0.91 Y/Y up 11% Y/Y (2)
GAAP-based income from operations was $27.3 million and 9.3% of revenues; Non-GAAP-based operating income was $73.6 million and 25.2% of revenues(2)
Operating cash flow was $96.6 million, with an ending cash balance of $509 million
Mark J. Barrenechea said "OpenText delivered our best third quarter adjusted earnings per share and cash from operations, and on a year-to-date basis our adjusted earnings per share was up 14 percent. However, our license revenue performance was impacted by sales execution issues in North America and within our Business Process Solutions (BPS) group. We've moved swiftly to take corrective actions and are confident that our organizational changes and enhancements will have a positive impact on our execution moving forward."
Barrenechea added, "After my first 120 days on the job, I am even more excited about OpenText's market position and longterm growth potential. We are a clear, trusted leader in Enterprise Content Management (ECM), and are positioned to deliver an expanding suite of secure solutions in ECM, Business Process management (BPM) and Customer Experience Management (CEM). Moreover, our large customer base, significant global distribution and expanding product capabilities puts us in an excellent position to leverage our business in rapidly growing Cloud and mobile environments. Our pipeline of opportunities is strong, and I am highly focused on putting the company in the best position to capitalize on our large and dynamic market opportunities."
Technology, services, government and financial verticals saw the most demand
Customer successes in the third quarter include Sumitomo Heavy Industry, Conoco Phillips, NTT Comware, News International, Trinity Mirror and the Spanish Lottery
Integrated BPM sales force; now selling BPM globally
OpenText named one of The Financial Post's 10 Best Companies to Work For in Canada
OpenText Extended ECM for SAP® Solutions Version 10 now includes support for the SAP Customer Relationship Management (SAP CRM) and SAP Supplier Relationship Management (SAP SRM) applications
OpenText Tempo Enterprise and Express Editions now available for easy sharing of content in private clouds
08-09-2012, 09:28 PM
OpenText Reports Fourth Quarter and Fiscal Year 2012 Financial Results
2012-08-09 | Open Text | Link (http://www.opentext.com/2/global/press-release-details.html?id=ECA7DC2E76E042D8B872FF0122C0528E)
Open Text Corporation, announced today its financial results for the fourth quarter and year ended June 30, 2012.
Financial Highlights for Q4 FY12
Total revenue for the period was $305.6 million up 7% Y/Y
License revenue was $78.0 million, down 2% Y/Y
GAAP-based EPS, diluted was $0.14 compared to $0.49 Y/Y; Non-GAAP-based EPS, diluted was $1.17 compared to $1.05 Y/Y up 11% Y/Y
GAAP-based income from operations was $39.7 million and 13.0% of revenues; Non-GAAP-based operating income was $84.8 million and 27.7% of revenues
Operating cash flow was $79.8 million compared to $52.0 million up 53% Y/Y, with an ending cash balance of $559.7 million.
Financial Highlights for FY12
Total revenue for the period was $1,207.5 million up 17% Y/Y
License revenue was $293.7 million, up 9% Y/Y
GAAP-based EPS, diluted was $2.13 compared to $2.11 Y/Y; Non-GAAP-based EPS, diluted was $4.60 compared to $4.07 Y/Y up 13% Y/Y
GAAP-based income from operations was $149.4 million and 12.4% of revenues; Non-GAAP-based operating income was $329.9 million and 27.3% of revenues
Operating cash flow was $266.5 million compared to $223.2 million up 19% Y/Y"In fiscal year 2012 OpenText delivered its best revenue and non-GAAP earnings in our 20 year history. With revenue up 17% and non-GAAP earnings up 13%, we have consistently grown revenue and non-GAAP earnings year-over-year for the last 7 fiscal years," said OpenText CEO Mark J. Barrenechea.
Mr. Barrenechea continued, "During the fiscal year, we rebuilt the leadership team, better organized the company and positioned ourselves to grow market share in the $13 billion Enterprise Information Management (EIM) market. We see increasing demand for our EIM solutions as customers are turning their attention to a single source of truth for all of their unstructured information."
EIM expanded market opportunity
EasyLink acquisition closed July 2, 2012
Announcement of OpenText Cloud
Technology, services, financial and public sector industries saw the most demand
Organizational changes complete
8 deals over $1 million and 12 deals between $500K and $1 million in the fourth quarter
Customer successes in the fourth quarter include McCain Foods Limited, Capricorn Investment Holdings, Bendigo Bank of Australia, The Polytechnic University of Hong Kong, News International Limited, Mosaic, JP Morgan, U.S. Department of the Interior and the National Olympic Photo Pool.
OpenText solutions help UK national press photographers showcase visual story of the Olympics:http://www.opentext.com/2/global/press-release-details.html?id=FD0360263C1A42748753AE2D358038EA
U.S. Department of the Interior deploys OpenText cloud-based ECM solution http://www.opentext.com/2/global/press-release-details.html?id=D7D55237959549F89FA6445E7898C9A4
10-31-2012, 10:52 PM
OpenText Reports First Quarter Fiscal Year 2013 Financial Results
October 31, 2012 | OpenText | Link (http://www.opentext.com/2/global/press-release-details.html?id=13059F9EFBD14BB19EF8428590154C1A)
Open Text(TM) Corporation, announced today its financial results for the first quarter ended September 30, 2012.
Financial Highlights for Q1 FY13 (1)
Total revenue for the period was $326.2 million up 13% Y/Y
License revenue was $55.7 million, down 14% Y/Y
Cloud services revenue was $44.9 million
Non-GAAP-based EPS, diluted was $1.31 compared to $1.03 Y/Y, up 27% Y/Y; GAAP-based EPS, diluted was $0.33 compared to $0.60 Y/Y (2)
Non-GAAP-based operating income was $93.8 million and 28.7% of revenues; GAAP-based income from operations was $40.1 million and 12.3% of revenues (2)
Operating cash flow was $61.8 million compared to $45.3 million up 36.2%Y/Y, with an ending cash balance of $302.2 million."OpenText delivered record first quarter results for revenues and profits, resulting in a 27% year over year growth in non- GAAP earnings per share," said OpenText CEO Mark J. Barrenechea.
"We executed well in our Cloud, Customer and Professional Services businesses, despite the impact of a challenging macro environment on license revenues. The power of our business model is evidenced by the fact that we delivered strong profits and earnings growth."
Barrenechea further added, "Looking ahead, we have strong opportunity in our upcoming EIM product cycles as we look to grow licenses and market share."
Completed the acquisition of EasyLink July 2, 2012
Technology, financial, services and basic materials industries saw the most demand
5 license deals over $1 million and 6 license deals between $500K and $1 million in the first quarter
Customer successes in the first quarter include Valero Energy Corporation, WEL Networks Ltd
OpenText outlines new strategy designed to help customers unleash the power of information
OpenText named a leader in multichannel capture by independent research firm
OpenText introduces enterprise information management solution for legal professionals
Public Service Without Borders proves its effectiveness among global governments with OpenText's social software solutions
OpenText's new cloud-based services allow customers to exchange information, securely and cost effectively -- Anytime, Anywhere
11-05-2012, 11:37 AM
OpenText Expands in India: Growing Customer Base, Expanded R&D Capacity
Company Doubles Capacity in its Hyderabad Research and Development Center and Opens New Office in Mumbai
2012-11-04 | OpenText | Link (http://www.opentext.com/2/global/press-release-details.html?id=D33A82A96C09496CB87141ED97A4B1BD)
OpenText, leading provider of Enterprise Information Management (EIM) solutions, today announced the expansion of its Hyderabad research and development center and the opening of its new Mumbai office to address the company's significant market opportunity in the emerging EIM market and to support its rapidly growing customer base in India, which currently exceeds 300.
More than 300 employees are currently based in OpenText's 67,000 square foot Hyderabad office. The company is adding more space as it prepares to double the size of its workforce in India over the next few years. The expansion, which will see OpenText occupy a total of nearly 100,000 square feet in Hyderabad, will allow the company to accelerate its EIM strategy and leadership.
"With India being a major research and technology hub, the growth of OpenText Hyderabad and the opening of a new Mumbai sales office represent a natural progression and important investment for us," said Mark J. Barrenechea, President and CEO of OpenText. "As a technology leader and pioneer, we see great opportunity in India and look forward to selecting the talented individuals who will drive OpenText's EIM vision there and around the globe."
The Hyderabad expansion is supported and aligned with the initiatives of the Indian government as the office is located in a Special Economic Zone (SEZ) that is oriented towards export and foreign direct investment in the country. These regions designated by the government are regulated by unique laws that encourage employment and economic growth through several channels such as regulatory and taxation breaks.
In conjunction with the Hyderabad expansion, OpenText is opening a commercial hub in Mumbai to address customer demand for OpenText's offerings and to support its technology and reseller partners including Tata Consulting Services, WIPRO and SAP in developing the EIM market in India. The office in Mumbai is scheduled to open this month and will become the home base for a country manager and his team of dedicated account development managers and partner support roles.
Major areas of concentration at OpenText Hyderabad include research, product development and global services.
Although it doesn't address the current influx of local applicants it does reaffirm how solid this company seems to be. Excellent acquisitions, solid growth and the appearance of a great management team.
Hope they keep up the good work and garner more recognition.
01-25-2013, 03:06 PM
Open Text Reports Second Quarter Fiscal Year 2013 Financial Results
2013-01-24 | Open Text | Link (http://www.opentext.com/2/global/press-release-details.html?id=38669728AE014D8E90D16269A2A825A6)
Open Text Corporation, announced today its financial results for the second quarter ended December 31, 2012.
Financial Highlights for Q2 FY13 Total revenue for the period was $352.2 million, up 10% Y/Y
License revenue was $76.1 million, compared to $89.7 million last year
Cloud services revenue was $46.2 million
Non-GAAP-based EPS, diluted was $1.58 compared to $1.39 Y/Y, up 14% Y/Y; GAAP-based EPS, diluted was $1.04 compared to $0.81 Y/Y (2)
Non-GAAP-based operating income was $113.0 million and 32.1% of revenues; GAAP-based income from operations was $67.2 million and 19% of revenues (2)
Operating cash flow was $74.7 million compared to $44.7 million up 67%Y/Y, with an ending cash balance of $367.3 million."We performed well in the quarter, delivering the highest quarterly revenue, non-GAAP operating margin, and non-GAAP EPS in the Company's history," said OpenText CEO Mark J. Barrenechea.
"We are committed to leading the market with the broadest range of EIM software and services, both on premise and in the cloud."
Business Highlights Financial, services, technology and basic materials industries saw the most demand
5 license transactions over $1 million and 11 license transactions between $500K and $1 million in the second quarter
Customer successes in the second quarter include Husch Blackwell Sanders, Defense Logistics Agency, LG&E and KU Services Company, Howard County Maryland, Mitsubishi Electric Information Systems, Sprint and Lincolnshire County Council
OpenText delivers Enterprise Information Management apps for Windows® 8
OpenText offers software trade-in for Autonomy customers
Latest release of OpenText Managed File Transfer helps customers reduce information exchange risks
OpenText delivers Tempo Social and Tempo Box in the cloud
OpenText unveils EIM cloud
OpenText announces InfoFusion
Leading analyst firm validates OpenText as leader in growing global enterprise fax software and services markets
OpenText expands in India: growing customer base, expanded R&D capacity
Leading organizations in India increasingly adopt OpenText's cloud services and solutions to help accelerate growth and revenue
03-06-2013, 02:54 PM
OpenText Acquires Resonate Knowledge Technologies
Provides industry leading ECM user experience, content visualization, reporting and industry application development platform
2013-03-06 | OpenText | Link (http://www.opentext.com/2/global/press-release-details.html?id=A70264256AB74E9EA57AF03EFEB7582E)
OpenText, a global leader in Enterprise Information Management (EIM), today announced it has acquired Resonate Knowledge Technologies (Resonate KT), a leading provider of software that enables organizations to visualize unstructured data, create new user experiences for Enterprise Content Management (ECM) and xECM for SAP, as well as build industry based applications that maximize unstructured data residing within Content Server, a key component of the OpenText ECM suite.
OpenText ECM customers can gain a simple, flexible user experience, a powerful reporting engine, and a development platform that provides a competitive advantage over other ECM vendors and platform technologies. Resonate KT products are used by more than 500 OpenText customers in 20 countries. Key products from Resonate KT include WebReports, WebReports Extensions for Workflow, ActiveView, and ActiveView Mobile. Resonate KT products will remain part of the rich suite of extensions available to enhance ECM and xECM for SAP.
Resonate KT's software makes ECM easy by providing a superior out of the box OpenText ECM user experience and a developer platform for customers to build their own applications. Customers using ECM solutions from OpenText will benefit from reduced time and complexity of their deployments, accelerated user adoption, and powerful reporting and content visualization on desktop, web and mobile devices.
"OpenText customers will be able to easily visualize their information, build applications, extract information and drive faster adoption of EIM through the use of Resonate KT software," said OpenText CEO Mark J. Barrenechea. "I was impressed with Resonate KT's software the first time I saw it. Resonate KT's products are deeply integrated into OpenText Content Server, which will help customers gain great value. We welcome Resonate KT's staff and customers to OpenText."
"While organizations rely on their data and business content to make the right decisions in a timely manner, access is often difficult. As a long-standing partner of OpenText, we are passionate about providing global clients the ability to bring together their data and business content, within the context of their business processes," said Greg Petti, senior director of product technology, Resonate Knowledge Technologies. "By becoming an integral part of OpenText, we will offer a wider scope of customers the ability to bring together structured data, documents, forms, emails, workflows within contextual, real time views and dashboards that are simply not available elsewhere. We are thrilled by becoming a part of the world's leading provider of EIM solutions."
OpenText ECM software, one of the five foundational pillars of OpenText's Enterprise Information Management (EIM) strategy, unites records management, archiving, search and eDiscovery to minimize organizational risk and cost, and maximize business insight and efficiency. From information capture, to classification, management, storage, distribution, archiving, and disposition, Enterprise Content Management software manages the flow of information across the organization. Fast and seamless access from multiple environments web, desktop, mobile, within business processes and applications improves user productivity and organizational efficiency while addressing the organizational requirements for information governance and security.
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