Revenues Soar at Open Text
The software developer reported its highest quarterly revenues ever Thursday, racking up $53.1 million in revenues for its fiscal fourth quarter ended June 30.Open Text Corp. reported its highest quarterly revenues ever Thursday, racking up $53.1 million in revenues for its fiscal fourth quarter ended June 30. That was up from $41.6 million in the same year-ago period. License revenues for the content and knowledge management and collaboration software developer climbed from $19.9 million to $24.1 million year to year as Open Text generated 74 percent of its license revenue from new customer accounts, company officials said. The Waterloo, Ontario-based company generated 54 percent of its revenue from North America and 40 percent from Europe. The revenue spike sent Open Texts net income up to $9.4 million from $7.3 million in the same period last year. It generated $8.1 million in cash.
For the entire fiscal year, Open Text reported $177.7 million, up from $154.4 million in the prior fiscal year. License revenues climbed year-over-year from $66 million to $76 million. Net income ended up at $27.8 million for the fiscal year, up from $16.7 million the year before.