OpenText Reports Second Quarter Fiscal Year 2015 Financial Results


OPEN TEXT CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands of U.S. dollars, except share and per share data)
(unaudited)








Three Months Ended December 31,


Six Months Ended December 31,



2014



2013



2014



2013


Revenues:













License


$

75,824



$

81,164



$

134,439



$

136,470


Cloud services


151,269



42,131



301,275



83,778


Customer support


179,466



174,425



363,372



342,865


Professional service and other


61,286



65,787



122,546



124,854


Total revenues


467,845



363,507



921,632



687,967


Cost of revenues:













License


3,412



3,304



6,500



6,340


Cloud services


56,974



15,963



114,970



30,228


Customer support


23,942



24,409



47,160



46,579


Professional service and other


46,641



51,245



92,002



96,680


Amortization of acquired technology-based intangible assets


18,206



13,035



36,412



34,565


Total cost of revenues


149,175



107,956



297,044



214,392


Gross profit


318,670



255,551



624,588



473,575


Operating expenses:













Research and development


46,170



41,917



90,912



82,133


Sales and marketing


90,010



81,290



170,109



150,703


General and administrative


39,849



32,815



75,605



61,701


Depreciation


12,465



6,898



24,707



13,356


Amortization of acquired customer-based intangible assets


25,364



12,432



51,248



29,709


Special charges (recoveries)


(5,759)



6,268



(1,590)



9,999


Total operating expenses


208,099



181,620



410,991



347,601


Income from operations


110,571



73,931



213,597



125,974


Other income (expense), net


(9,314)



(740)



(19,187)



1,186


Interest and other related expense, net


(8,455)



(3,040)



(19,554)



(7,425)


Income before income taxes


92,802



70,151



174,856



119,735


Provision for income taxes


18,308



16,651



35,710



35,605


Net income for the period


$

74,494



$

53,500



$

139,146



$

84,130


Net (income) loss attributable to non-controlling interests


(207)





(233)




Net income attributable to OpenText


$

74,287



$

53,500



$

138,913



$

84,130


Earnings per share—basic attributable to OpenText


$

0.61



$

0.45



$

1.14



$

0.71


Earnings per share—diluted attributable to OpenText


$

0.60



$

0.45



$

1.13



$

0.71


Weighted average number of Common Shares outstanding—basic


122,051



118,272



121,984



118,200


Weighted average number of Common Shares outstanding—diluted


122,985



119,186



122,934



118,950


Dividends declared per Common Share


$

0.1725



$

0.1500



$

0.3450



$

0.3000



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