Business
OpenText Intelligent Growth Strategy Drives Record Fourth Quarter and Fiscal Year 2014 Financial Results Appoints John Doolittle Chief Financial Officer
WATERLOO, Ontario , July 30, 2014 /CNW/ -- Open Text Corporation (NASDAQ: OTEX) (TSX: ...
About this update from Open Text Corporation
[{"type":"text","content":"\n\n\n\n\n\nWATERLOO, Ontario, July 30, 2014 /CNW/ -- Open Text Corporation (NASDAQ: OTEX) (TSX: OTC) announced today its financial results for the fourth quarter and fiscal year ended June 30, 2014, and the appointment of John Doolittle as Chief Financial Officer. \n\nFinancial Highlights for Q4 FY14 (1)\n\n\nTotal revenue was $494.0 million, up 42% Y/Y \nLicense revenue was $99.7 million, up 27% Y/Y \nCloud services revenue was $148.9 million, up 255% Y/Y \nCustomer support revenue was $183.9 million, up 12% Y/Y \nNon-GAAP-based EPS, diluted was $1.05 compared to $0.72 Y/Y, up 48%; GAAP-based EPS, diluted was $0.72 compared to $0.36 Y/Y up 100%, on a post stock-split basis.(2)   \nNon-GAAP-based income from operations was $162.2 million and 33% of revenues up 58% Y/Y; GAAP-based income from operations was $107.7 million and 22% of revenues, up 118% Y/Y.(2) \nOperating cash flow was $134.9 million, up 107%Y/Y, with an ending cash balance of $427.9 million. \nFinancial Highlights for FY14 (1)\n\n\nTotal revenue for the period was $1,624.7 million, up 19% Y/Y \nLicense revenue was $309.2 million, up 11% Y/Y \nCloud services revenue was $361.1 million, up 108% Y/Y \nCustomer support revenue was $707.0 million, up 7% Y/Y \nNon-GAAP-based EPS, diluted was $3.37 compared to $2.79 Y/Y, up 21%; GAAP-based EPS, diluted was $1.81 compared to $1.26 Y/Y up 44%, on a post stock-split basis.(2) \nNon-GAAP-based income from operations was $502.7 million and 31% of revenues, up 26% Y/Y; GAAP-based income from operations was $300.5 million and 18% of revenues, up 52% Y/Y.(2) \nOperating cash flow was $417.1 million,  up 31%Y/Y, with an ending cash balance of $427.9 million. \n\"Our focus on Enterprise Information Management is well aligned to the strategic priorities of our customers.  We delivered record quarterly and full fiscal year results, including full fiscal year total revenues of $1.625 billion, up 19%, license of $309 million, up 11%, and operating cash flows of $417 million, up 31% year over year,\" said Mark J. Barrenechea OpenText CEO. \"For Fiscal 2015, we are committed to unlocking further value, growth and leadership for our customers, partners and shareholders through focused execution utilizing our Intelligent Growth Business System (OTIGS).\"\n\nAppoints John Doolittle as Chief Financial Officer\n\nMr. Doo...