Business
OpenText Reports Third Quarter Fiscal Year 2014 Financial Results, Raises Quarterly Cash Dividend by 15%
WATERLOO, Ontario , April 24, 2014 /CNW/ - Open Text Corporation (NASDAQ: OTEX)...
About this update from Open Text Corporation
[{"type":"text","content":"\n\n\n\n\nWATERLOO, Ontario, April 24, 2014 /CNW/ - Open Text Corporation (NASDAQ: OTEX) (TSX: OTC) announced today its financial results for the third quarter ended March 31, 2014. \nFinancial Highlights for Q3 FY14 (1)\n\nTotal revenue was $442.8 million, up 31% Y/Y \nLicense revenue was $73.1 million, up 6% Y/Y \nCustomer Support revenue was $180.3 million, up 8% Y/Y \nNon-GAAP-based EPS, diluted was $0.84 compared to $0.63 Y/Y; GAAP-based EPS, diluted was $0.38 compared to $0.22 Y/Y, on a post stock-split basis.(2) \nNon-GAAP-based income from operations was $129.0 million and 29% of revenues; GAAP-based income from operations was $66.8 million and 15% of revenues.(2) \nOperating cash flow was $141.4 million, compared to $116.8 million Y/Y, up 21%Y/Y, with an ending cash balance of $336.1 million. \n\n\"In the third quarter we delivered strong year-over-year results with revenue growth of 31%, adjusted operating income growth of 43% and operating cash flow growth of 21%,\" said OpenText CEO Mark J. Barrenechea. \n\"With our intelligent growth strategy, we are focused on delivering value through acquisitions, innovation and now an increased dividend program. The GXS integration is off to a fast start and has established OpenText as a key cloud services provider. Our newly upgraded EIM product suite is driving customer demand, and reinforces our market position as a leader in EIM.\"\nBusiness Highlights\n\nOn January 16, 2014 OpenText bought GXS, a Maryland-based leader in business-to-business (B2B) cloud integration \nPublic sector, services and technology industries saw the most demand \n6 license transactions over $1 million and 10 license transactions between $500K and $1 million \nCustomer successes in the quarter include PBS, Western Cape Local Government, T-Mobile, Nokia and The Home Office \nDelivers on the future of business process management with Process Suite launch \nLaunches Experience Suite to provide an omni-channel digital experience strategy \nOpenText Tempo delivers new capabilities to increase business productivity through secure social collaboration \nLaunches SharePoint Services for OpenText Extended Enterprise Content Management for SAP® Solutions \nOpens first Australian data centre for locally hosted OpenText Cloud Services\n\nDividend Program Highlights \nCash Dividend - Raised by 15%As part of o...