Revenues Soar at Open Text

 
 
By Dennis Callaghan  |  Posted 2003-08-14 Print this article Print
 
 
 
 
 
 
 

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.
Open Text CEO Tom Jenkins said the company did particularly well in the government, financial services and pharmaceutical verticals. In other software company earnings news Thursday, e-service software developer eGain Communications Corp. reported fiscal fourth-quarter results down year-to-year from $6.3 million to $5.4 million. Hosting revenue dropped from $1.1 million to $819,000 while license revenue fell from $2.3 million to $1.5 million. The Sunnyvale, Calif.-based companys net loss did drop year-to-year, from $57.5 million to $3.6 million. For the entire fiscal year, eGain lost $18.4 million on $22.1 million of revenues, compared to a $166.1 million loss on $30.4 million in revenues in the prior fiscal year.
 
 
 
 
 
 
 
 
 
 
 

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