OpenText Reports Fourth Quarter and Fiscal Year 2015 Financial Results

 

OPEN TEXT CORPORATION

CONSOLIDATED STATEMENTS OF INCOME

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






Year Ended June 30,



2015


2014


2013

Revenues:







License


$

294,266



$

305,846



$

272,985


Cloud services and subscriptions


605,309



373,400



180,412


Customer support


731,797



707,024



658,216


Professional service and other


220,545



238,429



251,723


Total revenues


1,851,917



1,624,699



1,363,336


Cost of revenues:







License


12,899



13,161



15,995


Cloud services and subscriptions


239,719



142,666



73,464


Customer support


94,766



95,979



106,172


Professional service and other


173,399



189,947



196,663


Amortization of acquired technology-based intangible assets


81,002



69,917



93,610


Total cost of revenues


601,785



511,670



485,904


Gross profit


1,250,132



1,113,029



877,432


Operating expenses:







Research and development


196,491



176,834



164,010


Sales and marketing


369,920



345,643



289,157


General and administrative


163,042



142,450



109,325


Depreciation


50,906



35,237



24,496


Amortization of acquired customer-based intangible assets


108,239



81,023



68,745


Special charges


12,823



31,314



24,034


Total operating expenses


901,421



812,501



679,767


Income from operations


348,711



300,528



197,665


Other income (expense), net


(28,047)



3,941



(2,473)


Interest and other related expense, net


(54,620)



(27,934)



(16,982)


Income before income taxes


266,044



276,535



178,210


Provision for income taxes


31,638



58,461



29,690


Net income for the period


$

234,406



$

218,074



$

148,520


Net (income) loss attributable to non-controlling interests


(79)



51




Net income attributable to OpenText


$

234,327



$

218,125



$

148,520


Earnings per share—basic attributable to OpenText


$

1.92



$

1.82



$

1.27


Earnings per share—diluted attributable to OpenText


$

1.91



$

1.81



$

1.26


Weighted average number of Common Shares outstanding—basic


122,092



119,674



117,208


Weighted average number of Common Shares outstanding—diluted


122,957



120,576



118,124


Dividends declared per Common Share


$

0.7175



$

0.6225



$

0.1500



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