Open Text Revenues, Profits Rise

 
 
By Dennis Callaghan  |  Posted 2003-01-24 Print this article Print
 
 
 
 
 
 
 

Total revenues climbed to $43 million from $39.7 million in the same year-ago period.

Collaboration and knowledge management software developer Open Text Corp. continued to report strong financial results, seeing both revenues and profits increase in its fiscal second quarter ended Dec. 31. Total revenues climbed to $43 million from $39.7 million in the same period the previous year, including an increase in license revenue from $15.9 million to $17.4 million. Net income went up from $3.5 million to $6.2 million. Revenue, net income and cashflow from operations ($6.2 million) were all record highs for the Waterloo, Ontario-based company.
Open Text had four transactions of $1 million or more in the quarter and drew 62 percent of revenues from North America.
In earnings news at companies in similar sectors: Content management software developer Vignette Corp. saw quarterly revenues fall year-to-year, from $52.5 million to $40.4 million. License revenue was down from $21.6 million to nearly $18 million. Vignette posted a loss of $160.8 million after losing $966.6 million in the same period the previous year. Knowledge management software developer Hummingbird Ltd. saw revenues flat at $44.1 million in its fiscal first quarter. But the Toronto-based company turned a $2 million profit on those revenues after losing $5.7 million in the same period the previous year. In the search space, AskJeeves Inc. turned its first ever profit of $3.6 million, after losing $4.1 million in the fourth quarter of 2001. The companys Web search business drove its success, with revenues more than doubling, from $8.5 million to $19 million. AskJeeves, of Emeryville, Calif., saw its enterprise business languish in the quarter, falling to just 16 percent of company revenues at $3.7 million after totaling $6.9 million and 45 percent of revenues in the fourth quarter of 2001.
 
 
 
 
 
 
 
 
 
 
 

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