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OPEN TEXT CORPORATION | |||||||||||||||
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CONDENSED CONSOLIDATED STATEMENTS OF INCOME | |||||||||||||||
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(In thousands of U.S. dollars, except share and per share data) | |||||||||||||||
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(unaudited) | |||||||||||||||
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Three Months Ended December 31, |
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Six Months Ended December 31, | ||||||||||||
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2017 |
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2016 |
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2017 |
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2016 | ||||||||
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Revenues: |
|
|
|
|
|
|
| ||||||||
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License |
$ |
135,244 |
|
|
$ |
97,764 |
|
|
$ |
213,475 |
|
|
$ |
158,420 |
|
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Cloud services and subscriptions |
208,121 |
|
|
175,061 |
|
|
401,974 |
|
|
344,748 |
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Customer support |
308,070 |
|
|
219,656 |
|
|
603,474 |
|
|
429,862 |
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Professional service and other |
82,970 |
|
|
50,228 |
|
|
156,169 |
|
|
101,343 |
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Total revenues |
734,405 |
|
|
542,709 |
|
|
1,375,092 |
|
|
1,034,373 |
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Cost of revenues: |
|
|
|
|
|
|
| ||||||||
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License |
4,587 |
|
|
2,391 |
|
|
7,547 |
|
|
6,236 |
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Cloud services and subscriptions |
90,418 |
|
|
73,150 |
|
|
174,748 |
|
|
143,442 |
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Customer support |
33,194 |
|
|
27,349 |
|
|
65,985 |
|
|
53,087 |
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Professional service and other |
64,985 |
|
|
40,295 |
|
|
124,444 |
|
|
81,638 |
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Amortization of acquired technology-based intangible assets |
47,128 |
|
|
24,848 |
|
|
91,088 |
|
|
47,983 |
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Total cost of revenues |
240,312 |
|
|
168,033 |
|
|
463,812 |
|
|
332,386 |
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Gross profit |
494,093 |
|
|
374,676 |
|
|
911,280 |
|
|
701,987 |
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Operating expenses: |
|
|
|
|
|
|
| ||||||||
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Research and development |
80,304 |
|
|
64,721 |
|
|
157,933 |
|
|
123,293 |
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Sales and marketing |
129,142 |
|
|
102,651 |
|
|
251,964 |
|
|
197,799 |
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General and administrative |
48,985 |
|
|
39,914 |
|
|
97,900 |
|
|
78,111 |
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Depreciation |
22,071 |
|
|
15,301 |
|
|
40,949 |
|
|
30,571 |
| ||||
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Amortization of acquired customer-based intangible assets |
46,268 |
|
|
33,815 |
|
|
90,057 |
|
|
67,423 |
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Special charges |
715 |
|
|
11,117 |
|
|
18,746 |
|
|
23,571 |
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Total operating expenses |
327,485 |
|
|
267,519 |
|
|
657,549 |
|
|
520,768 |
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Income from operations |
166,608 |
|
|
107,157 |
|
|
253,731 |
|
|
181,219 |
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Other income (expense), net |
5,547 |
|
|
(3,558) |
|
|
15,771 |
|
|
3,141 |
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Interest and other related expense, net |
(34,092) |
|
|
(27,743) |
|
|
(67,380) |
|
|
(55,018) |
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Income before income taxes |
138,063 |
|
|
75,856 |
|
|
202,122 |
|
|
129,342 |
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Provision for (recovery of) income taxes |
53,146 |
|
|
30,822 |
|
|
80,515 |
|
|
(828,603) |
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Net income for the period |
$ |
84,917 |
|
|
$ |
45,034 |
|
|
$ |
121,607 |
|
|
$ |
957,945 |
|
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Net (income) loss attributable to non-controlling interests |
194 |
|
|
(12) |
|
|
100 |
|
|
(39) |
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Net income attributable to OpenText |
$ |
85,111 |
|
|
$ |
45,022 |
|
|
$ |
121,707 |
|
|
$ |
957,906 |
|
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Earnings per share—basic attributable to OpenText |
$ |
0.32 |
|
|
$ |
0.18 |
|
|
$ |
0.46 |
|
|
$ |
3.92 |
|
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Earnings per share—diluted attributable to OpenText |
$ |
0.32 |
|
|
$ |
0.18 |
|
|
$ |
0.46 |
|
|
$ |
3.89 |
|
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Weighted average number of Common Shares outstanding—basic |
265,504 |
|
|
245,653 |
|
|
265,153 |
|
|
244,282 |
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Weighted average number of Common Shares outstanding—diluted |
266,857 |
|
|
247,501 |
|
|
266,549 |
|
|
246,123 |
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Dividends declared per Common Share |
$ |
0.1320 |
|
|
$ |
0.1150 |
|
|
$ |
0.2640 |
|
|
$ |
0.2300 |
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OpenText Reports Second Quarter Fiscal Year 2018 Financial Results
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