Industry Summary Articles

·         Total revenue of $543 million, up 17% Y/Y

·         Recurring revenues of $445 million, up 16% Y/Y

·         Cloud services and subscription revenue of $175 million, up 17% Y/Y

·         License revenue of $98 million, up 19% Y/Y

·         GAAP-based EPS, diluted of $0.18 on a post share split basis, down 50% Y/Y (up 634% YTD)

·         Non-GAAP-based EPS, diluted of $0.54 on a post share split basis, up 8% Y/Y (up 5% YTD)

·         The public offering of common shares in the quarter diluted both GAAP-based and Non-GAAP-based EPS by approximately $0.01 on a post share split basis

Open Text Corporation announced its financial results for the second quarter ended December 31, 2016.

"OpenText delivered record revenue of $543 million in the second quarter of Fiscal 2017, up 17% year over year, with solid operational performance of 34% adjusted operating margin," said OpenText CEO and CTO Mark J. Barrenechea. "We made significant progress in advancing our vision, products and market reach over the last 12 months, and it is reflected in our financial results."

"Businesses in all industries are transforming into software and analytic companies and Enterprise Information Management ("EIM") is a key platform in enabling that transformation. The very nature of work has changed, and customers are seeking new platforms for content services, customer experience, supply chains, with discovery and analytics," said Barrenechea. "Customers are seeing greater value from Digitalization, and with Release 16 and our recent acquisitions, OpenText is well positioned to enable the next wave of digital transformation."

On January 23, 2017, OpenText completed the acquisition of Dell-EMC's Enterprise Content Division ("ECD Business"), including Documentum.

Mr. Barrenechea added, "OpenText, with great enthusiasm, welcomes our new Documentum and ECD employees, customers, and partners. We are the market leader in Content Services. This acquisition adds a world-class team of Content Management experts and significantly increases our presence in key verticals such as Life Sciences, Pharmaceuticals, Energy, Engineering and Public Sector industries, while expanding our Cloud Services offerings and increasing our geographical reach into new countries."

For the full release including figures please visit: http://investors.opentext.com/releasedetail.cfm?ReleaseID=1010251

To view the original press release, please click here.

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