OpenText Reports First Quarter Fiscal Year 2019 Financial Results

 

OPEN TEXT CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In thousands of U.S. dollars)

(unaudited)




Three Months Ended September 30,



2018


2017

Net income for the period


$

36,368



$

36,690


Other comprehensive income (loss) —net of tax:





Net foreign currency translation adjustments


(3,520)



906


Unrealized gain (loss) on cash flow hedges:





Unrealized gain (loss) - net of tax expense (recovery) effect of $181 and $463 for the three months ended September 30, 2018 and 2017, respectively


502



1,285


(Gain) loss reclassified into net income - net of tax (expense) recovery effect of $132 and ($287) for the three months ended September 30, 2018 and 2017, respectively


366



(797)


Actuarial gain (loss) relating to defined benefit pension plans:





Actuarial gain (loss) - net of tax expense (recovery) effect of $306 and ($83) for the three months ended September 30, 2018 and 2017, respectively


1,197



(115)


Amortization of actuarial (gain) loss into net income - net of tax (expense) recovery effect of $73 and $42 for the three months ended September 30, 2018 and 2017, respectively


66



56


Release of unrealized gain on marketable securities - net of tax effect of nil




(617)


Total other comprehensive income (loss) net, for the period


(1,389)



718


Total comprehensive income


34,979



37,408


Comprehensive (income) loss attributable to non-controlling interests


(44)



(94)


Total comprehensive income attributable to OpenText


$

34,935



$

37,314


 

OPEN TEXT CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands of U.S. dollars)

(unaudited)



Three Months Ended September 30,


2018


2017

Cash flows from operating activities:




Net income for the period

$

36,368



$

36,690


Adjustments to reconcile net income to net cash provided by operating activities:




Depreciation and amortization of intangible assets

117,207



106,627


Share-based compensation expense

6,555



8,235


Pension expense

1,145



1,035


Amortization of debt issuance costs

1,078



1,298


Amortization of deferred charges and credits



1,117


Loss on sale and write down of property and equipment

7,789



163


Release of unrealized gain on marketable securities to income



(841)


Deferred taxes

7,769



5,947


Share in net (income) loss of equity investees

(2,372)



512


Changes in operating assets and liabilities:




Accounts receivable

73,875



5,162


Contract assets

(5,346)




Prepaid expenses and other current assets

9,732



(2,808)


Income taxes and deferred charges and credits

12,561



9,148


Accounts payable and accrued liabilities

(40,001)



(64,476)


Deferred revenue

(57,403)



(38,480)


Other assets

2,444



(2,083)


Net cash provided by operating activities

171,401



67,246


Cash flows from investing activities:




Additions of property and equipment

(24,495)



(30,449)


Purchase of Guidance Software,  net of cash acquired

(2,279)



(220,765)


Purchase of Covisint Corporation, net of cash acquired



(71,279)


Other investing activities

(1,004)



(4,206)


Net cash used in investing activities

(27,778)



(326,699)


Cash flows from financing activities:




Proceeds from Revolver



200,000


Proceeds from issuance of Common Shares from exercise of stock options and ESPP

18,127



21,825


Repayment of long-term debt and revolver

(2,500)



(1,940)


Debt issuance costs

(322)




Purchase of treasury stock

(11,719)




Repurchase of non-controlling interest

(583)




Payments of dividends to shareholders

(40,466)



(35,017)


Net cash provided by (used in) financing activities

(37,463)



184,868


Foreign exchange gain (loss) on cash held in foreign currencies

428



7,762


Increase (decrease) in cash, cash equivalents and restricted cash during the period

106,588



(66,823)


Cash, cash equivalents and restricted cash at beginning of the period

683,991



446,210


Cash, cash equivalents and restricted cash at end of the period

$

790,579



$

379,387






Reconciliation of cash, cash equivalents and restricted cash:

September 30, 2018


September 30, 2017

Cash and cash equivalents

787,919



376,390


Restricted cash included in Other assets

2,660



2,997


Total Cash, cash equivalents and restricted cash

$

790,579



$

379,387











« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10  Next Page »



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us
ShareCG™ is a trademark of Internet Business Systems, Inc.

Report a Bug Report Abuse Make a Suggestion About Privacy Policy Contact Us User Agreement Advertise