Open Text meldt sterke omzetgroei in tweede kwartaal

De omzet in het tweede kwartaal bedroeg $61.7 miljoen, een stijging van 43% ten opzichte van hetzelfde kwartaal vorig jaar. De omzet uit licenties bedroeg dit kwartaal $27.9 miljoen, een stijging van 61%. Met $7.7 miljoen, of $0.18 EPS aan netto inkomsten volgens US GAAP, sluit Open Text voor de 20e achtereenvolgde keer het kwartaal met winst af.

Zie het volledige Engelstalige bericht hieronder. Voor meer informatie zie:
http://www.opentext.com.

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Perscontact:
Tjerk Suurenbroek
Open Text Benelux
tel: 023-565 23 33
mailto:tsuurenb@opentext.com

Charlotte Teelen / Marjolein Rigter
Edelman
tel: 023-554 20 30
mailto:charlotte.teelen@edelman.com
mailto:marjolein.rigter@edelman.com
http://www.edelman.com/nl

OPEN TEXT REPORTS STRONG SECOND QUARTER REVENUE GROWTH

License Revenue grows 61%

WATERLOO, ON-January 22, 2004¾Open 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 second quarter ended December 31, 2003.(1)

Financial Highlights
Total revenue for the second quarter was $61.7 million, up 43% from the same period last year. During the quarter license revenue of $27.9 million grew by 61%. Revenue results were broadly based, with 58% derived from North America, 39% from Europe and 3% from the Middle East and Asia, consistent with previous quarters.

For the second quarter, Open Text reported adjusted net income of $8.5 million, or adjusted earnings per share (EPS) of $0.20. This compares to adjusted net income of $6.5 million, or $0.16 adjusted EPS in the second quarter a year ago. (2)

Open Text reported net income for the second quarter in accordance with GAAP, of $7.7 million, or $0.18 EPS,  compared to net income of $6.2 million, or $0.15 EPS in the second quarter a year ago, marking the 20th consecutive profitable quarter for the Company. Cash flow from operations was $5.2 million. The cash on hand at quarter end was $112.3 million or
$2.77 per share. (3)

At quarter end, deferred revenue was $39.8 million, up $9.6 million or 32% over a year ago. Accounts receivable was $39.9 million, resulting in days sales outstanding (DSO) of 58 days. "We are delighted to have achieved record revenue results in the quarter, driven by strong license revenue growth," said Tom Jenkins, CEO of Open Text. "These results indicate that our customers positively view the business combination agreement with IXOS.

This will strengthen our leadership position in the ECM market and further enhance our pipeline by significantly expanding our global customer base."

Teleconference Call
Open Text invites the public to listen to the Company's teleconference call concerning financial results for the second quarter of fiscal 2004.
 
Date:        Thursday, January 22, 2004
Time:        5:30 p.m. ET / 2:30 p.m. PT
Length:      45 minutes, approximately
Where:       416-640-1907
 
Please dial the above number approximately 10 minutes before the teleconference is scheduled to begin. The operator will take your name and connect your line with the meeting. 
 
Replay of the call will be available beginning January 22, 2004 from 7:30 p.m. For replay information, or to listen to the call via Web cast, please use the following link: www.opentext.com/events/event.html?id=35264.
 
Additional materials, including accompanying financial and operating statistics relating to these financial results may be obtained from the investor site within the Open Text corporate Web site at:
www.opentext.com/investor/quarterly_reports/index.html.
 
About Open Text
Open Text(tm) is the market leader in providing Enterprise Content Management (ECM) solutions that bring together people, processes and information in global organizations. Since launching the world's first Internet search engine and the first Web-based enterprise collaboration and knowledge management software, Open Text has continued its leadership in providing global enterprises with innovative and effective solutions.

Throughout its history, Open Text has matched its tradition of innovation with a track record of financial strength and growth. Today, the Company supports fifteen million seats across 10,000 deployments in 31 countries and 12 languages worldwide. Open Text's flagship product, Livelink® seamlessly combines collaboration with content management, helping organizations transform information into knowledge to provide the foundation for innovation, compliance and accelerated growth. For more information on Open Text and Livelink, go
to: www.opentext.com and www.opentext.com/livelink.
 
# # #
 
Forward-looking statements in this press release are not promises or guarantees and are subject to risks and uncertainties that could cause our actual results to differ materially from those anticipated. The Company cautions you not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements relate to, among other things, the future performance of Open Text, the benefits of any acquisition, the strength of the Company's pipeline, the Company's growth and profitability prospects, the Company's position in the market, and future opportunities therein, the benefits of the Company's products to be realized by customers, the demand for the Company's products and the deployment of Livelink and Livelink MeetingZone by customers. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances. The risks and uncertainties that may affect forward-looking statements include, among others, risks involved in the completion and integration of acquisitions, the possibility of technical, logistical or planning issues in connection with deployments, the continuous commitment of the Company's customers, demand for the Company's products and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's Form 10-K for the year ended June 30, 2003, and Form 10-Q for the quarter ended September 30, 2003. Forward-looking statements are based on management's beliefs and opinions at the time the statements are made, and the Company does not undertake any obligations to update forward-looking statements should circumstances or management's beliefs or opinions change.
 
Copyright © 2004 by Open Text Corporation. LIVELINK, LIVELINK MEETINGZONE, and OPEN TEXT are trademarks or registered trademarks of Open Text Corporation in the United States of America, Canada, the European Union and/or other countries. This list of trademarks is not exhaustive. Other trademarks, registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text Corporation or other respective owners.
 
(1) Reported under U.S. Generally Accepted Accounting Principles (GAAP). All amounts are in US Dollars.

(2) The Company uses the financial measures "adjusted net income" and "adjusted EPS" to supplement its consolidated financial statements, which are presented in accordance with U.S. GAAP. The presentation of adjusted net income and adjusted EPS are not meant to be a substitute for net income or net income per share presented in accordance with U.S. GAAP, but rather should be evaluated in conjunction with such GAAP measures. Adjusted net income and adjusted EPS are calculated as net income excluding (a) the amortization of acquired intangible assets, (b) other income, gain (loss) on investments, (c)income tax on equity gain and (d) restructuring charges. The terms adjusted net income and adjusted EPS do not have a standardized meaning prescribed by GAAP, and therefore the Company's definitions are unlikely to be comparable to similar measures presented by other companies. The Company's management believes that the presentation of adjusted net income and adjusted EPS provide useful information to investors because they exclude non-operational charges and are a better indication of Open Text's profitability from recurring operations. The items excluded from the computation of adjusted net income and adjusted EPS, which are otherwise included in the determination of net income and EPS prepared in accordance with GAAP, are items that Open Text does not consider to be meaningful in evaluating the Company's past financial performance or the future prospects and may hinder a comparison of its period-to-period profitability.

(3)Includes $46.8 million that is temporarily restricted in use, as a provision of the financing arrangement for the IXOS transaction. 
 
For more information, please contact:
 
Greg Secord
Director, Investor Relations
Open Text Corporation
+1-519-888-7111 ext.2408
mailto:gsecord@opentext.com
 
Anne Marie Rahm
Director, Investor Relations
Open Text Corporation
+1-617-204-3359
mailto:arahm@opentext.com
 
Alan Hoverd
Chief Financial Officer
Open Text Corporation
+1-905-762-6222
mailto:ahoverd@opentext.com