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Wed, Feb. 10, 12:38 PM
- Open Text (NASDAQ:OTEX) has jumped after beating FQ2 estimates and reporting software license revenue rose 8.6% Y/Y to $81.9M - a marked improvement from FQ1's 11.8% drop.
- Also: On the earnings call (transcript), CFO John Doolittle said Open Text now expects its FY16 (ends June '16) op. margin to be at the high end of a prior 30%-34% guidance range. Open Text is otherwise reiterating its target model.
- FQ2 details: Cloud service/subscription revenue fell 3.7% Y/Y to $149.1M. Customer support revenue rose 2.6% to $184.1M, and professional service/other revenue fell 13.7% to $50.3M. GAAP operating expenses rose a modest 3% Y/Y to $215.6M. Open Text ended FQ2 with $742M in cash and $1.6B in debt.
- Open Text's FQ2 results, earnings release
Tue, Feb. 9, 4:05 PM
Mon, Feb. 8, 5:35 PM
Oct. 28, 2015, 4:05 PM
- Open Text (NASDAQ:OTEX): FQ1 EPS of $0.84 beats by $0.06.
- Revenue of $434.5M (-4.3% Y/Y) misses by $18.68M.
Oct. 27, 2015, 5:35 PM
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Jul. 29, 2015, 5:28 PM
- In tandem with its FQ4 report, OpenText (NASDAQ:OTEX) announces it's partnering with SAP to provide managed/outsourced B2B services that leverage OpenText's cloud-based Trading Grid B2B integration software platform (obtained through the GXS acquisition). SAP, aided by its Ariba B2B/procurement software unit, will offer the solution to its massive enterprise base.
- CEO Mark Barrenechea: "We can address the timely and complex integrations that many customers have with their trading partners around the world. SAP ... and OpenText will provide customers a solution that enables them to improve time to revenue, reduce costs and helps to advance the digital transformation that today's leaders are undertaking."
- OpenText has also announced it plans to buy back up to $200M worth of shares over the next 12 months. The announcement comes after shares closed today less than a dollar above a 52-week low of $36.65.
- 26 $1M+ deals were inked in FQ4 - 11 for cloud offerings, 15 for on-premise software. Cloud services/subscription revenue -1.9% Y/Y to $149M; traditional software licenses -1.8% to $97.1M; customer support +0.2% to $184.2M; professional services -11.8% to $52.4M.
- OpenText has risen to $41.50 AH.
- FQ4 results, PR
Jul. 29, 2015, 4:05 PM
- Open Text (NASDAQ:OTEX): FQ4 EPS of $0.87 beats by $0.18.
- Revenue of $482.71M (-2.3% Y/Y) beats by $35.47M.
May 20, 2015, 4:40 PM
- After cutting his day-to-day involvement with the company earlier this year as he underwent treatment for leukemia, OpenText (NASDAQ:OTEX) CEO Mark Barrenechea has "resumed full involvement in day-to-day operations."
- The content management software vendor has also announced a restructuring expected to cut its headcount by 5%. $50M/year in cost savings and a $25M restructuring charge are expected.
- As part of the restructuring, sales chief Jon Hunter has left the company. Several other sales/customer service execs have been promoted.
- Likely contributing to Hunter's departure: OpenText expects FQ4 revenue of $440M-$455M and EPS of $0.64-$0.72, below a consensus of $487.8M and $0.89. A strong dollar is expected to have a $0.11 impact on EPS; OpenText also states its ongoing shift towards cloud software sales (pushes out revenue recognition) and "a challenging global selling environment" took a toll.
- The company plans to "grow our Cloud business through acquisitions, innovation and with new ways to purchase our solutions."
- Shares have fallen to $45.46 AH on account of the guidance.
Apr. 28, 2015, 5:31 PM
- OpenText (NASDAQ:OTEX) blames its big FQ3 sales miss on both a strong dollar and its ongoing transition from up-front license sales to cloud subscriptions. The EPS miss is blamed on the dollar and "unique items in the quarter, such as acquisitions, litigation costs and others."
- Cloud services revenue (32% of total revenue) +12% Y/Y to $143.8M. License revenue -12.4% Y/Y to $64M; customer support +2.2% to $84.3Mprofessional service/other -9% to $55.5M.
- Gross margin fell 50 bps Y/Y to 70.8%, and op. margin 340 bps to 25.7%. The deferred revenue balance rose 24% Q/Q to $384.7M.
- In spite of the FQ3 miss, OpenText is hiking its quarterly dividend by $0.0275 to $0.20/share (good for a 1.6% yield at current levels). The next dividend is payable of June 19; the record date is May 29.
- Shares have tumbled to $50.42 AH.
- Q1 results, PR
Apr. 28, 2015, 4:10 PM
- Open Text (NASDAQ:OTEX): FQ3 EPS of $0.66 misses by $0.23.
- Revenue of $447.6M (+1.1% Y/Y) misses by $29.93M.
Jan. 28, 2015, 1:33 PM
- In addition to missing FQ2 revenue estimates (while posting in-line EPS), Open Text (NASDAQ:OTEX) reported a 7% Y/Y drop in license revenue (drives future customer support revenue) to $75.8M, a reversal from FQ1's 6% growth. On the CC (transcript), management blamed the decline on forex and "slower than expected growth from developing markets."
- Also: Open Text says business intelligence/analytics software vendor Actuate, which it finished acquiring on Jan. 16, could see revenue fall by 10%-20% post-acquisition, a decline deemed "consistent with prior acquisitions."
- Cloud services revenue (boosted by the GXS acquisition) grew 259% to $151.3M; Open Text now claims 60K cloud customers and 900 managed service customers, and is aiming for cloud services to make up 28%-33% of FY15 (ends June '15) revenue. Customer support revenue rose 3% to $179.5M.
- FQ2 results, PR
Jan. 27, 2015, 4:09 PM
- Open Text (NASDAQ:OTEX): FQ2 EPS of $0.97 in-line.
- Revenue of $467.84M (+28.7% Y/Y) misses by $18.89M.
Jan. 26, 2015, 5:35 PM
Oct. 22, 2014, 4:20 PM
- Open Text (NASDAQ:OTEX): FQ1 EPS of $0.97 beats by $0.11.
- Revenue of $453.78M (+39.9% Y/Y) misses by $5.14M.
- Shares +1.11% AH.
Oct. 21, 2014, 5:35 PM
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Open Text Corp provides software products & services. It assist organizations in finding, utilizing, & sharing business information. It is engaged in the design, development, marketing & sales of Enterprise Information Management software and solutions.
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