Open Text Corporation (Nasdaq:OTEX; TSX:OTC) leverancier van Enterprise Content Management (ECM) systeem Livelink, meldt de resultaten over het eerste kwartaal van het fiscale jaar 2004 dat sloot op 30 september 2003.
De netto inkomsten over het eerste kwartaal volgens US GAAP zijn $3.4 miljoen of $ 0.16 EPS. De totale omzet in het eerste kwartaal was $44.2 miljoen, een stijging van 17% ten opzichte van dezelfde periode vorig jaar en de beste resultaten uit het eerste kwartaal in de geschiedenis van Open Text. Tevens is dit het 19e achtereenvolgende kwartaal met positieve cash flow uit operaties.
74% van de licentieomzet komt voort uit nieuwe gebruikers. De omzet is wereldwijd verdeeld met 58% uit Noord Amerika, 38% uit Europa en 4% uit Midden-Oosten en Azië.
Zie het volledige Engelstalige bericht hieronder. Voor meer informatie, toelichting en de balans zie: http://www.opentext.com
Perscontact Nederland:
Tjerk Suurenbroek
Open Text Benelux
tel: 023-750 44 31
mailto:tsuurenb@opentext.com
Leoni Janssen/ Marjolein Rigter
Edelman
tel: 023-554 20 30
mailto:leoni.janssen@edelman.com
Http://www.edelman.com/nl
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Press release
OPEN TEXT REPORTS FIRST QUARTER RESULTS
Revenue Grows 17%, Raises Guidance
Waterloo, ON - 2003-10-23 - Open Text(tm) Corporation (Nasdaq: OTEX; TSX:
OTC), an enterprise content management (ECM) vendor and, provider of Livelink®, the leading collaboration and knowledge management software for the global enterprise, today announced financial results for its first quarter ended September 30, 2003.(1)
Financial Highlights
Total revenue for the quarter ended September 30, 2003 was $44.2 million, up 17% from $37.7 million in the same quarter last year. During the quarter 74% of all license revenue was generated from new accounts. Revenue results for the quarter were broadly based, with 58% from North America, 38% from Europe and 4% from the Middle East and Asia, consistent with previous quarters.
For the quarter, Open Text reported adjusted net income(2) of $4.9 million, or adjusted earnings per share (EPS) of $0.23. This compares to $5.2 million, or $0.25 adjusted EPS in the first quarter a year ago. Excluding the change in taxes, adjusted EPS would have been $0.30, a 20% increase over last year.
Net income for the quarter in accordance with GAAP was $3.4 million, or
$0.16 EPS. This compares to $5.4 million, or $0.26 EPS a year ago. This marks the 19th consecutive profitable quarter for the Company. Open Text has approximately 21.1 million shares on a fully diluted basis.
As of September 30th, 2003, deferred revenue was $35.4 million, up $10.7 million or 43% over a year ago. Accounts receivable was $27.9 million, resulting in days sales outstanding (DSO) of 57 days, down 14 days from a year ago. Cash increased to $120.7 million or $6.02 per share.
On October 21st, 2003, Open Text and IXOS (Nasdaq: XOSY; Frankfurt: XOS) announced that Open Text will acquire all of the issued and outstanding shares of IXOS. The transaction will proceed via a tender offer for a cash consideration of either 9 Euro per share (approximately US$10.46) or a fixed rate of 0.2610 of an Open Text share for each share of IXOS tendered. Each IXOS share that is exchanged for an Open Text share, will receive a freely traded warrant to purchase 0.0742 of an Open Text share for up to one year after closing the transaction, with a strike price of US $41.50 per share.
The cash consideration represents a 34% premium based on the three months weighted average volume of IXOS shares, prior to the announcement. The financing of the tender offer will be arranged through a letter of credit provided to a German financial institution according to German securities law.
"Our pipeline continues to show strength, and we are pleased to have achieved the highest first quarter revenue ever reported in the history of Open Text," said Tom Jenkins, CEO of Open Text. "The business combination agreement with IXOS will strengthen our leadership position in the ECM market and further strengthens our pipeline by significantly expanding our global customer base."
Guidance
On October 8, 2003, Open Text announced a two-for-one split of Open Text's outstanding common shares by way of a stock dividend. The results for the quarter ending September 30, 2003 do not reflect the 2-for-1 stock split.
The stock split is expected to be effective on October 29, 2003. After the split, there will be approximately 42.2 million diluted common shares outstanding.
After taking into account the 2-for-1 stock split and excluding the IXOS business agreement, Open Text is increasing guidance for the second quarter to $53 million in revenues and adjusted net income of $6.7 million, or $0.16 adjusted EPS. For fiscal 2004, Open Text is also increasing annual revenue guidance to approximately $227 million (28% annual growth rate), and earnings guidance to $28.1 million adjusted net income or $0.67 adjusted EPS. After the successful completion of the IXOS tender offer, Open Text will further update guidance to reflect the combined forecast of both companies.