"OpenText is helping the world's leading brands digitize their business, both on- and off-premise, and our strategy is showing bright-line success supported by our strong fourth quarter performance. We ended fiscal year 2015 with total revenues of $1.9 billion, up 14% year-over-year, non-GAAP operating margin of 31% and operating cash flows of $523 million," said OpenText CEO Mark J. Barrenechea. "With a more directly aligned sales leadership team in place, our sales organization performed extremely well in Q4, closing 26 deals over $1 million (11 cloud and 15 license)."
Barrenechea further added, "Over the last four years, our non-GAAP operating margin has grown from 27% to 31%, and our cloud revenue from zero to 33%, all while maintaining consistent license revenue on an absolute basis. Our confidence continues into fiscal 2016 and we are raising our non-GAAP operating margin model range to 30% to 34% and raising our annual recurring revenue range to 82% to 86%."
In addition, Barrenechea added, "Today we announced a share buyback of up to $200 million and our quarterly dividend of 20 cents. We also re-affirm our intent to allocate $3 billion in capital to acquisitions in the coming years."
|
Financial Highlights for Fiscal 2015 with Year Over Year Comparisons (1) | ||||||||||||||
|
| ||||||||||||||
|
Summary of Annual Results |
|
|
FY15 re-presented on a constant currency basis |
FX impact - higher (lower) | ||||||||||
|
|
FY15 |
FY14 |
$ Change |
% Change |
|
|
| |||||||
|
Revenues: (in millions) |
|
|
|
|
|
|
| |||||||
|
Cloud services and subscriptions |
$605.3 |
|
$373.4 |
|
$231.9 |
|
62.1 |
% |
|
$623.3 |
|
($18.0) |
| |
|
Customer support |
731.8 |
|
707.0 |
|
24.8 |
|
3.5 |
% |
|
765.5 |
|
(33.7) |
| |
|
Professional service and other |
220.5 |
|
238.4 |
|
(17.9) |
|
(7.5) |
% |
|
232.7 |
|
(12.2) |
| |
|
Total Recurring revenues |
$1,557.7 |
|
$1,318.9 |
|
$238.8 |
|
18.1 |
% |
|
$ |
1,621.5 |
|
($63.8) |
|
|
License |
294.3 |
|
305.8 |
|
(11.5) |
|
(3.8) |
% |
|
314.5 |
|
(20.2) |
| |
|
Total revenues |
$1,851.9 |
|
$1,624.7 |
|
$227.2 |
|
14.0 |
% |
|
$ |
1,936.0 |
|
($84.1) |
|
|
Non-GAAP-based operating margin (2) |
30.9 |
% |
30.9 |
% |
n/a |
|
— |
|
bps |
31.0 |
% |
| ||
|
GAAP-based operating margin |
18.8 |
% |
18.5 |
% |
n/a |
|
30 |
|
bps |
|
| |||
|
Non-GAAP-based EPS, diluted (2) |
$3.46 |
|
$3.37 |
|
$0.09 |
|
2.7 |
% |
|
$3.64 |
|
($0.18) |
| |
|
GAAP-based EPS, diluted |
$1.91 |
|
$1.81 |
|
$0.10 |
|
5.5 |
% |
|
|
| |||
|
Operating cash flows (in millions) |
$523.0 |
|
$417.1 |
|
$105.9 |
|
25.4 |
% |
|
|
| |||
