Open Text Revenues Up But Miss Estimates
Fast-growing enterprise content management software developer Open Text Corp. isnt quite growing fast enough for Wall Street. At the same time, a raft of vendors in the field this week released quarterly earnings.
The Waterloo, Ontario-based company saw its fiscal first-quarter revenues climb 17 percent in the period ended Sept. 30 from the same period a year ago. But that number fell short of consensus Wall Street estimates by nearly $2 million.
Open Text, which announced its acquisition of German content management software developer IXOS Software AG earlier this week, reported total revenues of $44.2 million in the quarter, up from $37.7 million in the same period last year, but down from the $46 million analysts had estimated three months ago. License revenue climbed from $15.5 million to $16.9 million year-over-year. Net income fell from $5.4 million to $3.6 million.
In related earnings news:
Documentum Inc. saw total revenues shoot up from $56.3 million in last years third quarter to $73.5 million this year. Licensing revenue was up from $28.9 million to $36 million in that time. The Pleasanton, Calif.-based company, soon to be acquired by EMC Corp., saw net income fall however, from $2 million in last years third quarter to just $881,000 this year.
Hummingbird Ltd.s fiscal fourth quarter revenues came in at $53.4 million, up from $46.2 million in the same period last year. However, the Toronto-based knowledge management software company lost $1.4 million in the quarter after losing $49,000 in the same period last year.
Vignette Corp. enjoyed a rise in revenues from $32.7 million in last years third quarter to $38 million this year. License revenues climbed from $11.4 million to $13.4 million year-over-year. The Austin, Texas-based content management software developer took a $1.9 million loss in the quarter after losing $34.2 million in the same period last year.
Interwoven Inc.s third-quarter revenues dropped year-to-year, from $30 million to $26.1 million. License revenue fell from $12.4 million to $10.4 million. The Sunnyvale, Calif.-based company lost $18.8 million in the quarter after losing $86.6 million in the same period last year.
Interwoven expects to close on its acquisition of iManage Inc. during the fourth quarter. The acquisition was announced in August. IManage, of Foster City, Calif., posted revenues of $12.4 million, up from $9.6 million in last years third quarter. License revenue climbed from $4.1 million to $5.4 million year-over-year. IManage cut its net loss in the quarter to $803,000 from $2.5 million in the same period last year.
Stellent Inc.s fiscal second quarter revenues increased from $15.6 million to $18.5 million, year over year. That included an increase in license revenue from $9.6 million to $10.2 million. The Eden Prairie, Minn.-based content management software developer cut its losses from $8.9 million to $2.5 million year-to-year.
Autonomy Corp. saw third-quarter revenues climb from $11.5 million to $13 million year-to-year. Net income dropped slightly from $1.4 million to $1.3 million for Autonomy, which is based in Cambridge, England with U.S. headquarters in San Francisco.
Revenues were up at Optika Inc. from $4.7 million in last years third quarter to $5.4 million this year. License revenue climbed from $1.6 million to just under $2 million for the Colorado Springs, Colo.-based company. Optika posted a $183,000 profit in the quarter, up from $45,000 in last years third quarter.