(PRNewswire) — Open Text Corporation (NASDAQ: OTEX) (TSX: OTC) announced today its financial results for the first quarter ended September 30, 2015.
"Fiscal 2016 will be a transformative year for OpenText. Digitalization enables customers to create a better way to work, and project Blue Carbon is the enabling platform. I am pleased to confirm project Blue Carbon will be available in Beta this quarter and unveiled at our annual user conference Enterprise World, taking place November 8 to 13, 2015," said OpenText CEO Mark J. Barrenechea.
Barrenechea further added, "As for Fiscal Q1 results, due to the strength of the US Dollar, foreign currency volatility continued to have a significant impact on our results in the quarter, negatively impacting total revenue by $34M. In constant currency, total revenue grew 3%, and recurring revenue grew 4%. We remain confident in our 2020 target model of adjusted operating margins between 34% to 38%."
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Financial Highlights for Q1 FY16 with Year Over Year Comparisons (1) |
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|
Summary of Quarterly Results |
Q1 FY16 in CC* |
% Change
|
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|
Q1 FY16 |
Q1 FY15 |
$ Change |
% Change |
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|
Revenues: (in millions) |
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|
Cloud services and subscriptions |
$147.8 |
$154.1 |
($6.3) |
(4.1) |
% |
$156.3 |
1.4 |
% |
|||||
|
Customer support |
185.7 |
183.9 |
1.8 |
1.0 |
% |
200.7 |
9.1 |
% |
|||||
|
Professional service and other |
49.7 |
57.6 |
(7.9) |
(13.7) |
% |
55.1 |
(4.3) |
% |
|||||
|
Total Recurring revenues |
$383.2 |
$395.6 |
($12.4) |
(3.1) |
% |
$412.1 |
4.2 |
% |
|||||
|
License |
51.3 |
58.2 |
(6.9) |
(11.8) |
% |
56.0 |
(3.8) |
% |
|||||
|
Total revenues |
$434.5 |
$453.8 |
($19.3) |
(4.2) |
% |
$468.1 |
3.2 |
% |
|||||
|
Non-GAAP-based operating margin (2) |
34.1 |
% |
34.3 |
% |
n/a |
(20) |
bps |
33.6 |
% |
||||
|
GAAP-based operating margin |
17.6 |
% |
22.7 |
% |
n/a |
(510) |
bps |
||||||
|
Non-GAAP-based EPS, diluted (2) |
$0.84 |
$0.97 |
($0.13) |
(13.4) |
% |
$0.90 |
(7.2) |
% |
|||||
|
GAAP-based EPS, diluted |
$0.34 |
$0.53 |
($0.19) |
(35.8) |
% |
||||||||
|
Operating cash flows (in millions) |
$92.7 |
$138.5 |
($45.8) |
(33.1) |
% |
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