OpenText Reports First Quarter Fiscal Year 2019 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 September 30,


2018


2017

Revenues:




License

$

76,887



$

78,231


Cloud services and subscriptions

208,083



193,853


Customer support

311,551



295,404


Professional service and other

70,636



73,199


Total revenues

667,157



640,687


Cost of revenues:




License

3,872



2,960


Cloud services and subscriptions

87,703



84,134


Customer support

30,465



32,770


Professional service and other

56,796



59,428


Amortization of acquired technology-based intangible assets

47,477



43,960


Total cost of revenues

226,313



223,252


Gross profit

440,844



417,435


Operating expenses:




Research and development

77,470



77,574


Sales and marketing

120,182



122,615


General and administrative

50,924



48,902


Depreciation

23,854



18,878


Amortization of acquired customer-based intangible assets

45,876



43,789


Special charges

23,311



18,031


Total operating expenses

341,617



329,789


Income from operations

99,227



87,646


Other income (expense), net

1,522



10,224


Interest and other related expense, net

(34,531)



(33,811)


Income before income taxes

66,218



64,059


Provision for (recovery of) income taxes

29,850



27,369


Net income for the period

$

36,368



$

36,690


Net (income) loss attributable to non-controlling interests

(44)



(94)


Net income attributable to OpenText

$

36,324



$

36,596


Earnings per share—basic attributable to OpenText

$

0.14



$

0.14


Earnings per share—diluted attributable to OpenText

$

0.13



$

0.14


Weighted average number of Common Shares outstanding—basic

268,028



264,802


Weighted average number of Common Shares outstanding—diluted

269,387



266,235


Dividends declared per Common Share

$

0.1518



$

0.1320



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