OpenText Reports Fourth Quarter and Fiscal Year 2012 Financial Results

Conference Call Information

The public is invited to listen to the earnings conference call at 5:00 p.m. ET (2:00 p.m. PT) by dialing 877-974-0446 (toll-free) or 416-644-3417 (international). Please dial-in 15 minutes ahead of time to ensure proper connection. Alternatively, a live webcast of the earnings conference call will be available on the Investor Relations section of the Company's website at .

An audio replay of the conference call will also be made available approximately two hours after the conclusion of the call. The audio replay will remain available until 11:59 p.m. on August  23, 2012 and can be accessed by dialing 877-289-8525 (toll-free) or 416-640-1917 (international) and entering the confirmation code: 4549967 followed by the number sign.

Please see below note (2) for a reconciliation of non-US GAAP based financial measures used in this press release, to US GAAP based financial measures.

About OpenText

OpenText is the largest independent software provider of Enterprise Information Management (EIM). For more information please visit

Cautionary Statement Regarding Forward Looking Statements

Certain statements in this press release, including statements about the financial conditions, and results of operations and earnings for Open Text Corporation ("OpenText" or "the Company"), may contain words such as "could", "expects", "may", "should", "will", "anticipates", "believes", "intends", "estimates", "targets", "plans", "envisions", "seeks" and other similar language and are considered forward-looking statements or information under applicable securities laws. These statements are based on the Company's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the Company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. The Company's assumptions, although considered reasonable by the Company at the date of this press release, may provide to be inaccurate and consequently the Company's actual results could differ materially from the expectations set out herein.

Actual results or events could differ materially from those contemplated in forward-looking statements as a result of the following: (i) the future performance, financial and otherwise, of OpenText; (ii) the ability of OpenText to bring new products to market and to increase sales; (iii) the strength of the Company's product development pipeline; (iv) the Company's growth and profitability prospects; (v) the estimated size and growth prospects of the EIM market; (vi) the Company's competitive position in the EIM market and its ability to take advantage of future opportunities in this market; (vii) the benefits of the Company's products to be realized by customers; and (viii) the demand for the Company's product and the extent of deployment of the company's products in the EIM marketplace. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances. The risks and uncertainties that may affect forward-looking statements include, but are not limited to: (i) integration of acquisitions and related restructuring efforts, including the quantum of restructuring charges and the timing thereof; (ii) the possibility that the Company may be unable to meet its future reporting requirements under the Securities Exchange Act of 1934, as amended, and the rules promulgated there under; (iii) the risks associated with bringing new products to market; (iv) fluctuations in currency exchange rates; (v) delays in the purchasing decisions of the Company's customers; (vi) the competition the Company faces in its industry and/or marketplace; (vii) the possibility of technical, logistical or planning issues in connection with the deployment of the Company's products or services; (viii) the continuous commitment of the Company's customers; and (ix) demand for the Company's products.

For additional information with respect to risks and other factors which could occur, see the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC and other securities regulators. Unless otherwise required by applicable securities laws, the Company disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Copyright © 2012 by Open Text Corporation. "OPENTEXT", "OPENTEXT EVERYWHERE" and the "OPENTEXT ECM SUITE" are trademarks or registered trademarks of Open Text Corporation in the United States of America, Canada, the European Union and/or other countries. This list of trademarks is not exhaustive. Other trademarks, registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text Corporation or other respective owners.

(In thousands of U.S. dollars, except share data)
  June 30, 2012 June 30, 2011
Cash and cash equivalents $ 559,747   $ 284,140  
Accounts receivable trade, net of allowance for doubtful accounts of $5,655 as
of June 30, 2012 and $5,424 as of June 30, 2011 (note 3)
163,664   154,568  
Income taxes recoverable 17,849   18,911  
Prepaid expenses and other current assets 44,011   29,678  
Deferred tax assets 4,003   27,861  
  Total current assets 789,274   515,158  
Property and equipment 81,157   77,825  
Goodwill 1,040,234   832,481  
Acquired intangible assets 312,563   344,995  
Deferred tax assets 80,226   42,737  
Other assets 23,739   19,359  
Deferred charges 68,653   54,989  
Long-term income taxes recoverable 48,447   44,819  
  Total assets $ 2,444,293   $ 1,932,363  
Current liabilities:    
  Accounts payable and accrued liabilities $ 131,734   $ 126,249  
  Current portion of long-term debt 41,374   15,545  
  Deferred revenues 273,987   254,531  
  Income taxes payable 27,806   18,424  
  Deferred tax liabilities 1,612   624  
  Total current liabilities 476,513   415,373  
Long-term liabilities:    
  Accrued liabilities 14,247   13,727  
  Deferred credits 10,086   6,878  
  Pension liability 22,074   18,478  
  Long-term debt 555,000   282,033  
  Deferred revenues 12,653   11,466  
  Long-term income taxes payable 147,623   101,434  
  Deferred tax liabilities 26,705   43,529  
  Total long-term liabilities 788,388   477,545  
Shareholders' equity:    
  Share capital    
  58,358,990 and 57,301,812 Common Shares issued and outstanding
at June 30, 2012 and June 30, 2011, respectively; Authorized Common Shares: unlimited
635,321   614,279  
  Additional paid-in capital 95,026   74,301  
  Accumulated other comprehensive income 44,364   60,470  
  Retained earnings 442,068   316,894  
  Treasury stock, at cost (793,494 shares at June 30, 2012 and
572,413 shares at June 30, 2011, respectively)
(37,387)   (26,499)  
Total shareholders' equity 1,179,392   1,039,445  
  Total liabilities and shareholders' equity $ 2,444,293   $ 1,932,363  

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