Third Quarter Report on Open Text Financials
June 4, 2013
Third quarter earnings information is coming in and many companies are sharing their results. Open Text, a leader in the Forrester Wave Smart Process Applications, has announced theirs through a press release on their site: “Open Text Reports Third Quarter Fiscal Year 2013 Financial Results and Announces Quarterly Dividend Program.” The information is broken up into three categories: financial highlights, business highlights and dividend program highlights.
The financial highlights caught our eyes. Some of the numbers reported were that cloud services revenue was $44.4 million and license revenue was $69 million, up 16% Y/Y.
According to the article, OpenText CEO Mark J. Barrenechea states:
“We are committed to delivering value to our stockholders through technology innovation, strategic acquisitions and now through a dividend. We generated $333.1 million in operating cash flow over the last twelve months and we are running our business at record operating margins. We have always been committed to rewarding our stockholders’ investments in OpenText and the Board has decided that it is the right time to declare a dividend for our stockholders.”
The financial side of things for Open Text looks to be a mix of good news and bad news. Margins are narrowing and Q3 2013 revenue was down from Q2 2013.
Megan Feil, June 04, 2013
Sponsored by ArnoldIT.com, developer of Beyond Search
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