CIMdata PLM Industry Summary Online Archive
31 October 2012
Financial News
OpenText Reports First Quarter Fiscal Year 2013 Financial Results
Open Text ™ Corporation announced its financial results for the first quarter ended September 30, 2012.
Financial Highlights for Q1 FY13 (1)
- Total revenue for the period was $326.2 million up 13% Y/Y
- License revenue was $55.7 million, down 14% Y/Y
- Cloud services revenue was $44.9 million
- Non-GAAP-based EPS, diluted was $1.31 compared to $1.03 Y/Y, up 27% Y/Y; GAAP-based EPS, diluted was $0.33 compared to $0.60 Y/Y (2)
- Non-GAAP-based operating income was $93.8 million and 28.7% of revenues; GAAP-based income from operations was $40.1 million and 12.3% of revenues (2)
- Operating cash flow was $61.8 million compared to $45.3 million up 36.2%Y/Y, with an ending cash balance of $302.2 million.
"OpenText delivered record first quarter results for revenues and profits, resulting in a 27% year over year growth in non- GAAP earnings per share," said OpenText CEO Mark J. Barrenechea.
"We executed well in our Cloud, Customer and Professional Services businesses, despite the impact of a challenging macro environment on license revenues. The power of our business model is evidenced by the fact that we delivered strong profits and earnings growth."
Barrenechea further added, "Looking ahead, we have strong opportunity in our upcoming EIM product cycles as we look to grow licenses and market share."
Business Highlights
- Completed the acquisition of EasyLink July 2, 2012
- Technology, financial, services and basic materials industries saw the most demand
- 5 license deals over $1 million and 6 license deals between $500K and $1 million in the first quarter
- Customer successes in the first quarter include Valero Energy Corporation, WEL Networks Ltd
- OpenText outlines new strategy designed to help customers unleash the power of information
- OpenText named a leader in multichannel capture by independent research firm
- OpenText introduces enterprise information management solution for legal professionals
- Public Service Without Borders proves its effectiveness among global governments with OpenText's social software solutions
- OpenText's new cloud-based services allow customers to exchange information, securely and cost effectively -- Anytime, Anywhere
Conference Call Information
The public is invited to listen to the earnings conference call at 5:00 p.m. ET (2:00 p.m. PT) by dialing 800-814-4860 (toll-free) or 416-644-3416 (international). Please dial-in 15 minutes ahead of time to ensure proper connection. Alternatively, a live webcast of the earnings conference call will be available on the Investor Relations section of the Company's website at http://www.opentext.com/2/global/ex_event.html?evtype=events&id=701D0000000VZnIIAW.
An audio replay of the conference call will also be made available approximately two hours after the conclusion of the call. The audio replay will remain available until 11:59 p.m. on November 14, 2012 and can be accessed by dialing 877-289-8525 (tollfree) or 416-640-1917 (international) and entering the confirmation code: 4568227 followed by the number sign.
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