(PRNewswire) —  Open Text Corporation (NASDAQ: OTEX) (TSX: OTC) announced today its financial results for the second quarter ended December 31, 2014.

Financial Highlights for Q2 FY15 with Year Over Year Comparisons  (1)

• Total revenue was $467.8 million, up 29%
• Recurring revenue was $392.0 million, up 39%
• Cloud services revenue was $151.3 million, up 259%
• Customer support revenue was $179.5 million, up 3%
• License revenue was $75.8 million, down 7%
• Foreign exchange negatively impacted total revenue by $15 million ₍₄₎
• Non-GAAP-based EPS, diluted was $0.97 compared to $0.79 up 23%; GAAP-based EPS, diluted was $0.60 compared to $0.45 up 33%, on a post stock-split basis.₍₂₎
• Non-GAAP-based income from operations was $153.3 million and 33% of revenues, up 36%; GAAP-based income from operations was $110.6 million and 24% of revenues, up 50% .₍₂₎
• Foreign exchange negatively impacted non-GAAP-based EPS by $0.03 ₍₄₎
• Operating cash flow was $109.6 million, up 80% with an ending cash balance of $542.8 million

"The OpenText strategy is resonating with customers as our year over year financial highlights reflect; particularly, our cloud services results are up 259% and we expanded non-GAAP-based operating margin to 32.8%," said Mark J. Barrenechea OpenText CEO.  "Further, we enter calendar 2015 with our strongest product line up ever, including our new EIM Suites 10.6, more customer options in the OpenText Cloud, new OpenText Core, our expanding Business Network, and now, analytics by means of our Actuate acquisition. The acquisition of Actuate enables OpenText to significantly enter the world of business analytics, allowing customers to analyze and visualize a broad range of structured, semi-structured, and unstructured data."

"The underlying strength of the business performance was partially offset by the strength of the US dollar against most currencies and notably the Euro. Compared to the beginning of Fiscal Year 2015 exchange rates, in-quarter total revenue was negatively affected by $16 million and non-GAAP-based EPS was negatively impacted by 4 cents," said John Doolittle, OpenText CFO.₍₄₎

Business Highlights

• OpenText buys Actuate Corporation
• OpenText buys Informative Graphics Corporation
• OpenText issued $800.0 million in aggregate principal by way of 5.625% senior notes due 2023 in a private placement on January 15, 2015
• 15 customer transactions over $1 million, 6 in the OpenText Cloud and 9 on-premises
• Financial, services and technology sector industries saw the most demand
• Cloud customer successes in the quarter include Schneider Electric Industries, Nestle S.A. and Nestle Purina Pet Care
• License customer successes in the quarter include DB Schenker, Insurance Australia Group, Singapore Power, IGATE, Fox Entertainment Group, Monster Beverage Corp., GEMA, Airbus and The Bosch Group 
• OpenText launches data centers to support customers in Japan and across the Asia-Pacific Region
• OpenText launches OpenText Core, a new enterprise-grade cloud information management solution
• OpenText named one of Canada's Top 100 Employers for the fourth consecutive year

Dividend Program Highlights

Cash Dividend

As part of our quarterly, non cumulative cash dividend program the Board declared a quarterly cash dividend to holders of the Company's Common Shares of $0.1725. The record date for this dividend is February 26, 2015 and the payment date is March 19, 2015. Future declarations of dividends and the establishment of future record and payment dates are subject to the final determination and discretion of our Board of Directors.