OpenText Reports Second Quarter Fiscal Year 2018 Financial Results

 

OPEN TEXT CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

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

(unaudited)



Three Months Ended December 31,


Six Months Ended December 31,


2017


2016


2017


2016

Revenues:








License

$

135,244



$

97,764



$

213,475



$

158,420


Cloud services and subscriptions

208,121



175,061



401,974



344,748


Customer support

308,070



219,656



603,474



429,862


Professional service and other

82,970



50,228



156,169



101,343


Total revenues

734,405



542,709



1,375,092



1,034,373


Cost of revenues:








License

4,587



2,391



7,547



6,236


Cloud services and subscriptions

90,418



73,150



174,748



143,442


Customer support

33,194



27,349



65,985



53,087


Professional service and other

64,985



40,295



124,444



81,638


Amortization of acquired technology-based intangible assets

47,128



24,848



91,088



47,983


Total cost of revenues

240,312



168,033



463,812



332,386


Gross profit

494,093



374,676



911,280



701,987


Operating expenses:








Research and development

80,304



64,721



157,933



123,293


Sales and marketing

129,142



102,651



251,964



197,799


General and administrative

48,985



39,914



97,900



78,111


Depreciation

22,071



15,301



40,949



30,571


Amortization of acquired customer-based intangible assets

46,268



33,815



90,057



67,423


Special charges

715



11,117



18,746



23,571


Total operating expenses

327,485



267,519



657,549



520,768


Income from operations

166,608



107,157



253,731



181,219


Other income (expense), net

5,547



(3,558)



15,771



3,141


Interest and other related expense, net

(34,092)



(27,743)



(67,380)



(55,018)


Income before income taxes

138,063



75,856



202,122



129,342


Provision for (recovery of) income taxes

53,146



30,822



80,515



(828,603)


Net income for the period

$

84,917



$

45,034



$

121,607



$

957,945


Net (income) loss attributable to non-controlling interests

194



(12)



100



(39)


Net income attributable to OpenText

$

85,111



$

45,022



$

121,707



$

957,906


Earnings per share—basic attributable to OpenText

$

0.32



$

0.18



$

0.46



$

3.92


Earnings per share—diluted attributable to OpenText

$

0.32



$

0.18



$

0.46



$

3.89


Weighted average number of Common Shares outstanding—basic

265,504



245,653



265,153



244,282


Weighted average number of Common Shares outstanding—diluted

266,857



247,501



266,549



246,123


Dividends declared per Common Share

$

0.1320



$

0.1150



$

0.2640



$

0.2300



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