OpenText Reports Third Quarter Fiscal 2011 Financial Results

* Expenses include all cost of revenues and operating expenses included within the Condensed Consolidated Statements of Income, except for amortization of intangible assets, share-based compensation and special charges.

OPEN TEXT CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands of U.S. dollars, except share data)  

   March 31,
2011
June 30,
2010
  (Unaudited)  
     
ASSETS    
Cash and cash equivalents...................................................................................... $ 237,747 $ 326,192
Accounts receivable trade, net of allowance for doubtful accounts of $5,446 as of
March 31, 2011 and $4,868 as of June 30, 2010.....................................................
150,160 132,143
Income taxes recoverable........................................................................................ 26,478 44,509
Prepaid expenses and other current assets............................................................. 33,567 21,086
Deferred tax assets.................................................................................................. 19,048 20,242
    Total current assets.................................................................................... 467,000 544,172
Capital assets.......................................................................................................... 73,526 54,286
Goodwill................................................................................................................... 832,558 666,055
Acquired intangible assets....................................................................................... 374,321 328,193
Deferred tax assets.................................................................................................. 45,447 30,420
Other assets............................................................................................................ 20,920 16,896
Deferred charges.................................................................................................... 55,407 27,558
Long-term income taxes recoverable...................................................................... 52,814 48,102
  Total assets.......................................................................................................... $ 1,921,993 $ 1,715,682
LIABILITIES AND SHAREHOLDERS' EQUITY    
Current liabilities:    
  Accounts payable and accrued liabilities............................................................. $ 127,066 $ 119,604
  Current portion of long-term debt......................................................................... 15,787 15,486
  Deferred revenues............................................................................................... 256,382 219,752
  Income taxes payable........................................................................................... 32,814 39,666
  Deferred tax liabilities............................................................................................ 3,641 28,384
    Total current liabilities................................................................................... 435,690 422,892
Long-term liabilities:    
  Accrued liabilities..................................................................................................... 13,057 15,755
  Deferred credits....................................................................................................... 5,323
  Pension liability........................................................................................................ 18,584 15,888
  Long-term debt........................................................................................................ 282,781 285,026
  Deferred revenues................................................................................................... 11,613 10,085
  Long-term income taxes payable............................................................................. 106,963 64,699
  Deferred tax liabilities.............................................................................................. 43,406 13,459
    Total long-term liabilities.................................................................................. 481,727 404,912
Shareholders' equity:    
  Share capital..........................................................................................................    
    57,236,987 and 56,825,995 Common Shares issued and outstanding at
March 31, 2011 and June 30, 2010, respectively; Authorized Common Shares:
unlimited...........................................................................................................
612,445 602,868
  Additional paid-in capital......................................................................................... 71,174 61,298
  Accumulated other comprehensive income............................................................. 59,154 44,021
  Retained earnings................................................................................................. 288,302 193,691
  Treasury stock, at cost (572,413 and 307,579 shares, respectively at
March 31, 2011 and June 30, 2010).....................................................................
(26,499 ) (14,000 )
Total shareholders' equity...................................................................................... 1,004,576 887,878
  Total liabilities and shareholders' equity.............................................................. $ 1,921,993 $ 1,715,682
       

OPEN TEXT CORPORATION

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

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