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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 March 31, |
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Nine Months Ended March 31, | ||||||||||||
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2018 |
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2017 |
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2018 |
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2017 | ||||||||
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Revenues: |
|
|
|
|
|
|
| ||||||||
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License |
$ |
84,113 |
|
|
$ |
87,227 |
|
|
$ |
297,588 |
|
|
$ |
245,647 |
|
|
Cloud services and subscriptions |
209,102 |
|
|
177,109 |
|
|
611,076 |
|
|
521,857 |
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Customer support |
312,279 |
|
|
263,436 |
|
|
915,753 |
|
|
693,298 |
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Professional service and other |
80,385 |
|
|
65,358 |
|
|
236,554 |
|
|
166,701 |
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Total revenues |
685,879 |
|
|
593,130 |
|
|
2,060,971 |
|
|
1,627,503 |
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Cost of revenues: |
|
|
|
|
|
|
| ||||||||
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License |
3,098 |
|
|
4,008 |
|
|
10,645 |
|
|
10,244 |
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Cloud services and subscriptions |
94,264 |
|
|
77,225 |
|
|
269,012 |
|
|
220,667 |
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Customer support |
33,820 |
|
|
34,442 |
|
|
99,805 |
|
|
87,529 |
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Professional service and other |
64,246 |
|
|
55,529 |
|
|
188,690 |
|
|
137,167 |
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Amortization of acquired technology-based intangible assets |
47,303 |
|
|
39,285 |
|
|
138,391 |
|
|
87,268 |
| ||||
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Total cost of revenues |
242,731 |
|
|
210,489 |
|
|
706,543 |
|
|
542,875 |
| ||||
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Gross profit |
443,148 |
|
|
382,641 |
|
|
1,354,428 |
|
|
1,084,628 |
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Operating expenses: |
|
|
|
|
|
|
| ||||||||
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Research and development |
83,522 |
|
|
77,086 |
|
|
241,455 |
|
|
200,379 |
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Sales and marketing |
129,987 |
|
|
117,498 |
|
|
381,951 |
|
|
315,297 |
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General and administrative |
54,817 |
|
|
44,828 |
|
|
152,717 |
|
|
122,939 |
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Depreciation |
23,093 |
|
|
16,557 |
|
|
64,042 |
|
|
47,128 |
| ||||
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Amortization of acquired customer-based intangible assets |
46,762 |
|
|
40,825 |
|
|
136,819 |
|
|
108,248 |
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Special charges |
2,644 |
|
|
20,586 |
|
|
21,390 |
|
|
44,157 |
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Total operating expenses |
340,825 |
|
|
317,380 |
|
|
998,374 |
|
|
838,148 |
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Income from operations |
102,323 |
|
|
65,261 |
|
|
356,054 |
|
|
246,480 |
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Other income (expense), net |
11,140 |
|
|
1,424 |
|
|
26,911 |
|
|
4,565 |
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Interest and other related expense, net |
(34,534) |
|
|
(31,734) |
|
|
(101,914) |
|
|
(86,752) |
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Income before income taxes |
78,929 |
|
|
34,951 |
|
|
281,051 |
|
|
164,293 |
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Provision for (recovery of) income taxes |
20,129 |
|
|
13,239 |
|
|
100,644 |
|
|
(815,364) |
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Net income for the period |
$ |
58,800 |
|
|
$ |
21,712 |
|
|
$ |
180,407 |
|
|
$ |
979,657 |
|
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Net (income) loss attributable to non-controlling interests |
(6) |
|
|
(96) |
|
|
94 |
|
|
(135) |
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Net income attributable to OpenText |
$ |
58,794 |
|
|
$ |
21,616 |
|
|
$ |
180,501 |
|
|
$ |
979,522 |
|
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Earnings per share—basic attributable to OpenText |
$ |
0.22 |
|
|
$ |
0.08 |
|
|
$ |
0.68 |
|
|
$ |
3.91 |
|
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Earnings per share—diluted attributable to OpenText |
$ |
0.22 |
|
|
$ |
0.08 |
|
|
$ |
0.68 |
|
|
$ |
3.88 |
|
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Weighted average number of Common Shares outstanding—basic |
266,572 |
|
|
263,329 |
|
|
265,619 |
|
|
250,538 |
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Weighted average number of Common Shares outstanding—diluted |
267,764 |
|
|
265,440 |
|
|
266,954 |
|
|
252,469 |
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Dividends declared per Common Share |
$ |
0.1320 |
|
|
$ |
0.1150 |
|
|
$ |
0.3960 |
|
|
$ |
0.3450 |
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OpenText Reports Third Quarter Fiscal Year 2018 Financial Results
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