OpenText Reports Second Quarter Fiscal Year 2015 Financial Results

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OTEX-F

For more information, please contact:

United States:

Greg Secord
Vice President, Investor Relations
Open Text Corporation
San Francisco: 415-963-0825
Email Contact

Canada:

Sonya Mehan
Senior Manager, Investor Relations
Open Text Corporation
Waterloo: 519-888-7111 ext. 2446
Email Contact

Copyright ©2015 Open Text Corporation. OpenText is a trademark or registered trademark of Open Text SA and/or Open Text ULC. The list of trademarks is not exhaustive of other trademarks, registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text SA or other respective owners. All rights reserved. For more information, visit: http://www.opentext.com/2/global/site-copyright.html_SKU.

OPEN TEXT CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands of U.S. dollars, except share data)

	December 31, 2014		June 30, 2014
	(unaudited)
ASSETS
Cash and cash equivalents	$	542,810	$	427,890
Accounts receivable trade, net of allowance for doubtful accounts of $6,211 as of December 31, 2014 and $4,727 as of June 30, 2014	258,230		292,929
Income taxes recoverable	16,374		24,648
Prepaid expenses and other current assets	52,533		42,053
Deferred tax assets	31,375		28,215
Total current assets	901,322		815,735
Property and equipment	153,841		142,261
Goodwill	1,940,304		1,963,557
Acquired intangible assets	637,660		725,318
Deferred tax assets	152,030		156,712
Other assets	57,823		52,041
Deferred charges	44,820		52,376
Long-term income taxes recoverable	8,517		10,638
Total assets	$	3,896,317	$	3,918,638
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued liabilities	$	193,510	$	231,954
Current portion of long-term debt	65,289		62,582
Deferred revenues	292,162		332,664
Income taxes payable	11,729		31,630
Deferred tax liabilities	834		1,053
Total current liabilities	563,524		659,883
Long-term liabilities:
Accrued liabilities	33,098		41,999
Deferred credits	15,236		17,529
Pension liability	65,346		60,300
Long-term debt	1,226,500		1,256,750
Deferred revenues	18,022		17,248
Long-term income taxes payable	161,036		162,131
Deferred tax liabilities	54,177		60,631
Total long-term liabilities	1,573,415		1,616,588
Shareholders' equity:
Share capital
122,078,994 and 121,758,432 Common Shares issued and outstanding at December 31, 2014 and June 30, 2014, respectively; Authorized Common Shares: unlimited	801,810		792,834
Additional paid-in capital	114,951		112,398
Accumulated other comprehensive income	39,632		39,449
Retained earnings	813,131		716,317
Treasury stock, at cost (407,725 shares at December 31, 2014 and 763,278 at June 30, 2014, respectively)	(10,680)		(19,132)
Total OpenText shareholders' equity	1,758,844		1,641,866
Non-controlling interests	534		301
Total shareholders' equity	1,759,378		1,642,167
Total liabilities and shareholders' equity	$	3,896,317	$	3,918,638

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