Open Text rapporteerde gisteravond na beurs haar financiële resultaten over het tweede kwartaal van het fiscale jaar 2003, dat eindigde op 31 december 2002. De resultaten vertegenwoordigen het sterkste financiële kwartaal van Open Text tot nu toe. Open Text is leverancier van Livelink, een toonaangevende samenwerkings- en kennismanagementoplossing.
Het Engelstalige persbericht is hieronder te lezen. Een uitgebreide versie is te vinden op: http://www.opentext.nl/news/pr.asp?id=1321
Voor meer informatie:
Tjerk Suurenbroek
Open Text
Mailto:tsuurenb@opentext.com
Telefoon 023 565 23 33
Charlotte Teelen / Marjolein Rigter
Edelman
Mailto:charlotte.teelen@edelman.com
Mailto:marjolein.rigter@edelman.com
Telefoon 023 - 554 20 30
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Open Text Posts Record Results For Second Quarter 2003
Adjusted EPS Of $0.32 Exceeds Consensus Estimate, Company Raises Guidance
Waterloo, ON-January 23, 2003-Open Text(tm) Corporation (Nasdaq: OTEX; TSX: OTC), provider of Livelink®, the leading collaboration and knowledge management software for the global enterprise, today announced financial results for its second quarter ended December 31, 2002.
Financial Highlights
Revenue, adjusted net income and cash flow from operations all represented the highest quarter results ever reported in the Company's history. Total revenue for the quarter was $43 million, an increase of 14% from the prior quarter and up 8% from the same quarter in the prior year. This increase was driven by strong license revenue of $17.4 million, up 12% from the previous quarter. Open Text reported adjusted net income(2) for the second quarter of $6.5 million. Adjusted earnings per share (EPS) of $0.32 (diluted) was up 33% from the second quarter a year ago. Cash flow from operations for the quarter was $11.7 million, the highest quarterly cash flow from operations in the Company's history. Net income (GAAP) for the quarter was $6.2 million.
"We are very pleased with Open Text's strong financial performance this quarter. Our commitment to profitable growth and cash flow from operations has resulted in record performance for the company," said Tom Jenkins, CEO of Open Text. "The Livelink product family continues to demonstrate a rapid return on investment for our global 2000 customers. Livelink maintains its leadership position in collaboration and knowledge management by successfully improving an organization's productivity and profitability."
During the second quarter there were 4 transactions over $1 million. The largest transaction in the quarter was with Pfizer. Open Text's largest customers also drove the financial results by continued enterprise-wide adoptions. Customers buying in the quarter included: Dunn & Bradstreet, Port Authority of New York and New Jersey, Strategic Rail Authority and Research in Motion. Revenue results for the quarter were broadly based globally. For the quarter, 62% of the Company's revenue originated from North America, 38% from Europe, the Middle East and Asia.
Deferred revenue of $30.2 million at quarter end was a historical record for the company, reflecting a strong maintenance renewal rate of 94%. Accounts receivable as of December 31, 2002 was $29.6 million, resulting in days sales outstanding (DSO) of 62 days, also a record and an improvement of 9 days over the previous quarter. As of December 31, 2002, cash was $102.3 million or $5.30 per share. Working capital was $83.1 million with no debt.
Guidance Increased
The Company is increasing guidance for fiscal 2003 to $170M of revenues with $1.25 adjusted EPS (taxed). Open Text will be taking a provision for taxes going forward and this is included in the guidance.
Share Repurchase Program
During the quarter, the Company renewed its Normal Course Issuer Bid program enabling the repurchase of up to 5% of the outstanding shares for cancellation. The Company repurchased a total of 43,500 common shares in the quarter, representing a total cost of $1.1 million.