OpenText Reports Fourth Quarter and Fiscal Year 2011 Financial Results

       

OPEN TEXT CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(In thousands of U.S. dollars, except per share data)  

             
    Year ended June 30,
    2011     2010     2009  
Revenues:            
  License..................................................................................    $ 269,202    $ 238,074    $ 229,818 
  Customer support..................................................................          560,541          507,452          405,310 
  Service and other..................................................................          203,560          166,497          150,537 
    Total revenues...................................................................          1,033,303          912,023          785,665 
             
Cost of revenues:            
  License..................................................................................          18,284          16,922          16,204 
  Customer support..................................................................          86,834          83,741          68,902 
  Service and other..................................................................          167,854          135,396          118,998 
  Amortization of acquired technology-based intangible
assets.................................................................................... 
        68,048          60,472          47,733 
    Total cost of revenues........................................................          341,020          296,531          251,837 
Gross profit..............................................................................          692,283          615,492          533,828 
             
Operating expenses:            
  Research and development..................................................          145,992          129,378          116,164 
  Sales and marketing..............................................................          232,332          198,208          186,533 
  General and administrative...................................................          86,696          83,295          73,842 
  Depreciation..........................................................................          22,116          17,425          12,012 
  Amortization of acquired customer-based intangible assets..          38,966          35,940          33,259 
  Special charges....................................................................          15,576          42,008          14,434 
    Total operating expenses...................................................          541,678          506,254          436,244 
Income from operations...........................................................          150,605          109,238          97,584 
Other expense, net..................................................................          (6,095)         (8,349)         (3,238)
Interest expense, net...............................................................          (11,838)         (10,366)         (13,620)
Income before income taxes....................................................          132,672          90,523          80,726 
Provision for income taxes.......................................................          9,469          1,311          23,788 
Net income for the year...........................................................    $ 123,203    $ 89,212    $ 56,938 
Net income per share—basic...................................................    $ 2.16   $ 1.59    $ 1.09 
Net income per share—diluted................................................    $ 2.11    $ 1.55    $ 1.07 
Weighted average number of Common Shares
outstanding—basic.................................................................. 
        57,077          56,280          52,030 
Weighted average number of Common Shares
outstanding—diluted................................................................ 
        58,260          57,385          53,271 
             

OPEN TEXT CORPORATION

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