OpenText Reports Third Quarter Fiscal Year 2018 Financial Results

WATERLOO, Ontario, May 9, 2018 — (PRNewswire) — Open Text Corporation (NASDAQ: OTEX, TSX: OTEX), "The Information Company," today announced its financial results for the third quarter ended March 31, 2018.

"We are pleased with our Q3 results, especially our Annual Recurring Revenues (ARR) of $521 million, up 18% y/y and our Operating Cash Flows (OCF) of $271 million, up 73% y/y," said OpenText Vice Chair, CEO and CTO, Mark J. Barrenechea. "We are making key investments in the OpenText Cloud that will drive growth and customer adoption, and these investments will help create even more predictability in our business model."

Barrenechea further added, "Based on the strength and trajectory of our recurring revenues and cash flows, we are setting an annual Operating Cash Flow target of $1 Billion as we exit Fiscal 2021."

"Supported by confidence in our long-term model and cash flow performance, we are announcing a 15% increase to our quarterly cash dividend to $0.1518 per share," said Barrenechea.

"OpenText has built a market leading business and I am excited to join such a highly talented team," said OpenText EVP and CFO, Madhu Ranganathan. "We will focus on recurring revenues, improving efficiency, expanding cash flow and strengthening the business as we to look to scale OpenText to new levels in the coming years."

Financial Highlights for Q3 Fiscal 2018 with Year Over Year Comparisons

Summary of Quarterly Results









(in millions except per share data)

Q3 FY18

Q3 FY17

$ Change

% Change

(Y/Y)


Q3 FY18 in
CC*

% Change
in CC*


Revenues:









Cloud services and subscriptions

$209.1


$177.1


$32.0


18.1

%


$204.0


15.2

%


Customer support

312.3


263.4


48.8


18.5

%


297.9


13.1

%


Total annual recurring revenues**

$521.4


$440.5


$80.8


18.3

%


$501.8


13.9

%


License

84.1


87.2


(3.1)


(3.6)

%


80.0


(8.3)

%


Professional service and other

80.4


65.4


15.0


23.0

%


75.3


15.3

%


Total revenues

$685.9


$593.1


$92.7


15.6

%


$657.1


10.8

%


GAAP-based operating income

$102.3


$65.3


$37.1


56.8

%





Non-GAAP-based operating income (1)

$204.1


$172.6


$31.5


18.2

%


$193.4


12.1

%


GAAP-based operating margin

14.9

%

11.0

%

n/a


390


bps




Non-GAAP-based operating margin (1)

29.8

%

29.1

%

n/a


70


bps

29.4

%

30


bps

GAAP-based EPS, diluted

$0.22


$0.08


$0.14


175.0

%





Non-GAAP-based EPS, diluted (1)(3)

$0.54


$0.45


$0.09


20.0

%


$0.51


13.3

%


GAAP-based net income attributable to OpenText

$58.8


$21.6


$37.2


172.0

%





Adjusted EBITDA (1)

$227.2


$189.1


$38.1


20.2

%





Operating cash flows

$270.7


$156.3


$114.4


73.2

%






1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15  Next Page »
Featured Video
Jobs
CAD Engineer for Nvidia at Santa Clara, California
Senior Platform Software Engineer, AI Server - GPU for Nvidia at Santa Clara, California
Design Verification Engineer for Blockwork IT at Milpitas, California
GPU Design Verification Engineer for AMD at Santa Clara, California
Sr. Silicon Design Engineer for AMD at Santa Clara, California
Senior Firmware Architect - Server Manageability for Nvidia at Santa Clara, California
Upcoming Events
Phil Kaufman Award Ceremony and Banquet to be held November 6 at Hayes Mansion at Hayes Mansion 200 Edenvale Ave San Jose CA - Nov 6, 2024
SEMICON Europa 2024 at Messe München München Germany - Nov 12 - 15, 2024
DVCon Europe 2023 at Holiday Inn Munich – City Centre Munich Germany - Nov 14 - 15, 2024
SEMI MEMS & Imaging Sensors Summit, at International Conference Center Munich Germany - Nov 14, 2024



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise