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OPEN TEXT CORPORATION |
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CONSOLIDATED STATEMENTS OF INCOME |
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(In thousands of U.S. dollars, except share and per share data) |
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Year Ended June 30, |
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2019 |
2018 |
2017 |
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Revenues: |
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License |
$ |
428,092 |
$ |
437,512 |
$ |
369,144 |
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Cloud services and subscriptions |
907,812 |
828,968 |
705,495 |
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Customer support |
1,247,915 |
1,232,504 |
981,102 |
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Professional service and other |
284,936 |
316,257 |
235,316 |
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Total revenues |
2,868,755 |
2,815,241 |
2,291,057 |
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Cost of revenues: |
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License |
14,347 |
13,693 |
13,632 |
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Cloud services and subscriptions |
383,993 |
364,160 |
299,850 |
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Customer support |
124,343 |
133,889 |
122,565 |
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Professional service and other |
224,635 |
253,389 |
194,954 |
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Amortization of acquired technology-based intangible assets |
183,385 |
185,868 |
130,556 |
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Total cost of revenues |
930,703 |
950,999 |
761,557 |
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Gross profit |
1,938,052 |
1,864,242 |
1,529,500 |
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Operating expenses: |
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Research and development |
321,836 |
322,909 |
281,215 |
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Sales and marketing |
518,035 |
529,141 |
444,454 |
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General and administrative |
207,909 |
205,227 |
170,353 |
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Depreciation |
97,716 |
86,943 |
64,318 |
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Amortization of acquired customer-based intangible assets |
189,827 |
184,118 |
150,842 |
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Special charges |
35,719 |
29,211 |
63,618 |
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Total operating expenses |
1,371,042 |
1,357,549 |
1,174,800 |
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Income from operations |
567,010 |
506,693 |
354,700 |
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Other income (expense), net |
10,156 |
17,973 |
15,743 |
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Interest and other related expense, net |
(136,592) |
(138,540) |
(120,892) |
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Income before income taxes |
440,574 |
386,126 |
249,551 |
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Provision for (recovery of) income taxes |
154,937 |
143,826 |
(776,364) |
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Net income for the period |
$ |
285,637 |
$ |
242,300 |
$ |
1,025,915 |
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Net (income) loss attributable to non-controlling interests |
(136) |
(76) |
(256) |
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Net income attributable to OpenText |
$ |
285,501 |
$ |
242,224 |
$ |
1,025,659 |
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Earnings per share—basic attributable to OpenText |
$ |
1.06 |
$ |
0.91 |
$ |
4.04 |
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Earnings per share—diluted attributable to OpenText |
$ |
1.06 |
$ |
0.91 |
$ |
4.01 |
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Weighted average number of Common Shares outstanding—basic |
268,784 |
266,085 |
253,879 |
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Weighted average number of Common Shares outstanding—diluted |
269,908 |
267,492 |
255,805 |
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OpenText Reports Fourth Quarter and Fiscal Year 2019 Financial Results
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