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OPEN TEXT CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
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Three Months Ended December 31, |
Six Months Ended December 31, |
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2014 |
2013 |
2014 |
2013 |
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Revenues: |
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License |
$ |
75,824 |
$ |
81,164 |
$ |
134,439 |
$ |
136,470 |
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|
Cloud services |
151,269 |
42,131 |
301,275 |
83,778 |
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Customer support |
179,466 |
174,425 |
363,372 |
342,865 |
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Professional service and other |
61,286 |
65,787 |
122,546 |
124,854 |
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Total revenues |
467,845 |
363,507 |
921,632 |
687,967 |
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Cost of revenues: |
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License |
3,412 |
3,304 |
6,500 |
6,340 |
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Cloud services |
56,974 |
15,963 |
114,970 |
30,228 |
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Customer support |
23,942 |
24,409 |
47,160 |
46,579 |
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Professional service and other |
46,641 |
51,245 |
92,002 |
96,680 |
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Amortization of acquired technology-based intangible assets |
18,206 |
13,035 |
36,412 |
34,565 |
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Total cost of revenues |
149,175 |
107,956 |
297,044 |
214,392 |
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Gross profit |
318,670 |
255,551 |
624,588 |
473,575 |
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Operating expenses: |
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Research and development |
46,170 |
41,917 |
90,912 |
82,133 |
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Sales and marketing |
90,010 |
81,290 |
170,109 |
150,703 |
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General and administrative |
39,849 |
32,815 |
75,605 |
61,701 |
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Depreciation |
12,465 |
6,898 |
24,707 |
13,356 |
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Amortization of acquired customer-based intangible assets |
25,364 |
12,432 |
51,248 |
29,709 |
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Special charges (recoveries) |
(5,759) |
6,268 |
(1,590) |
9,999 |
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Total operating expenses |
208,099 |
181,620 |
410,991 |
347,601 |
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Income from operations |
110,571 |
73,931 |
213,597 |
125,974 |
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Other income (expense), net |
(9,314) |
(740) |
(19,187) |
1,186 |
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Interest and other related expense, net |
(8,455) |
(3,040) |
(19,554) |
(7,425) |
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Income before income taxes |
92,802 |
70,151 |
174,856 |
119,735 |
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Provision for income taxes |
18,308 |
16,651 |
35,710 |
35,605 |
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Net income for the period |
$ |
74,494 |
$ |
53,500 |
$ |
139,146 |
$ |
84,130 |
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Net (income) loss attributable to non-controlling interests |
(207) |
— |
(233) |
— |
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Net income attributable to OpenText |
$ |
74,287 |
$ |
53,500 |
$ |
138,913 |
$ |
84,130 |
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Earnings per share—basic attributable to OpenText |
$ |
0.61 |
$ |
0.45 |
$ |
1.14 |
$ |
0.71 |
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Earnings per share—diluted attributable to OpenText |
$ |
0.60 |
$ |
0.45 |
$ |
1.13 |
$ |
0.71 |
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Weighted average number of Common Shares outstanding—basic |
122,051 |
118,272 |
121,984 |
118,200 |
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Weighted average number of Common Shares outstanding—diluted |
122,985 |
119,186 |
122,934 |
118,950 |
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Dividends declared per Common Share |
$ |
0.1725 |
$ |
0.1500 |
$ |
0.3450 |
$ |
0.3000 |
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