CIMdata PLM Industry Summary Online Archive
6 May 2009
Financial News
Open Text Reports Third Quarter Fiscal 2009 Financial Results
Open Text™ Corporation announced unaudited financial results for its third quarter, ending March 31, 2009.
Total revenue for the third quarter was $192.0 million, up 7% compared to $178.8 million for the same period in the prior fiscal year. License revenue in the third quarter was $51.9 million, compared to $51.5 million for the same period in the prior fiscal year.
Adjusted net income for the third quarter was $31.4 million or $0.59 per share on a diluted basis, up 24% compared to $25.4 million or $0.48 per share on a diluted basis, for the same period in the prior fiscal year. Net income for the third quarter, in accordance with U.S. generally accepted accounting principles ("U.S. GAAP"), was $22.0 million or $0.41 per share on a diluted basis, compared to $7.3 million or $0.14 per share on a diluted basis, for the same period in the prior fiscal year.
Total cash and cash equivalents, as of March 31, 2009 was $237.0 million, after deducting the net cash payment for Captaris of approximately $100.0 million. This compares to $254.9 million as of June 30, 2008. Accounts receivable as of March 31, 2009, totaled $111.7 million, compared to $134.4 million as of June 30, 2008 and Days Sales Outstanding (DSO) was 52 days at the end of the third quarter of Fiscal 2009, compared to 60 days at June 30, 2008.
Operating cash flow in the third quarter of fiscal 2009 was $72.9 million, up 46% compared to $49.8 million in the third quarter of the prior fiscal year and up 83% compared to $39.8 million in the previous quarter.
"Compliance based solutions continue to lead our sales initiatives, and we are experiencing renewed demand for the classic ECM solutions that improve business processes and efficiencies, to achieve rapid return-on-investment for our customers," said John Shackleton, Chief Executive Officer of Open Text. "In the current economic environment we are focused on the bottom line and remain committed to meeting our profitability targets while generating strong cash flow from operations."
Teleconference Call
Open Text will host a conference call on May 6, 2009 at 5:00 p.m. ET to discuss the financial results of its third quarter ending March 31, 2009.
A replay of the call will be available beginning May 6, 2009 at 7:00 p.m. ET through 11:59 p.m. on May 20, 2009 and can be accessed by dialing 416-640-1917 and using pass code 21302245 followed by the number sign.
For more information or to listen to the call via Web cast, please use the following link:
http://www.opentext.com/events/wa-event.html?id=7573788
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