OPEN TEXT CORPORATION

CONSOLIDATED STATEMENTS OF INCOME

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

Three Months Ended June 30,

2015

2014

Revenues:

License

$

97,129

$

98,863

Cloud services and subscriptions

148,967

151,877

Customer support

184,221

183,869

Professional service and other

52,391

59,369

Total revenues

482,708

493,978

Cost of revenues:

License

3,511

3,452

Cloud services and subscriptions

58,955

57,838

Customer support

23,514

24,196

Professional service and other

42,746

49,025

Amortization of acquired technology-based intangible assets

22,454

18,205

Total cost of revenues

151,180

152,716

Gross profit

331,528

341,262

Operating expenses:

Research and development

52,357

47,502

Sales and marketing

104,024

101,240

General and administrative

41,715

41,413

Depreciation

13,390

11,354

Amortization of acquired customer-based intangible assets

28,741

26,635

Special charges

8,791

5,413

Total operating expenses

249,018

233,557

Income from operations

82,510

107,705

Other income (expense), net

690

1,103

Interest and other related expense, net

(18,194)

(10,775)

Income before income taxes

65,006

98,033

Provision for income taxes

(3,763)

9,885

Net income for the period

$

68,769

$

88,148

Net (income) loss attributable to non-controlling interests

35

(37)

Net income attributable to OpenText

$

68,804

$

88,111

Earnings per share—basic attributable to OpenText

$

0.56

$

0.72

Earnings per share—diluted attributable to OpenText

$

0.56

$

0.72

Weighted average number of Common Shares outstanding—basic

122,245

121,692

Weighted average number of Common Shares outstanding—diluted

122,888

122,511

Dividends declared per Common Share

$

0.2000

$

0.1725