Open Text (OTEX) Tops Q4 EPS by 9c

Open Text (NASDAQ: OTEX) reported Q4 EPS of $0.80, $0.09 better than the analyst estimate of $0.71. Revenue for the quarter came in at $839.5 million versus the consensus estimate of $839.62 million.

"Our robust fourth quarter results contributed to a record fiscal year, as we successfully helped our customers navigate the challenges of an evolving market and workforce," said Mark J. Barrenechea, OpenText CEO & CTO. "In Fiscal 2021, OpenText delivered a record $3.39 billion in total revenues, up 8.9% year-over-year, supported by record Cloud revenues of $1.4 billion, up 21.6% from a year ago. Annual Recurring Revenues (ARR) reached a record $2.7 billion, up 12.7% year-over-year, representing 81% of total revenues."

"Information Management's time has come, and OpenText is perfectly positioned to lead the market as we digitally empower many of the most innovative global organizations, in nearly every vertical and line of business. OpenText Cloud Editions enables customers to accelerate growth and stay ahead of the competition by maximizing the value of their information through our cloud-based Information Management platform."

"I am very pleased with our fourth quarter and Fiscal 2021 results," said Madhu Ranganathan, OpenText EVP, CFO. "In Fiscal 2021, we excelled in our operational performance, generating a record $1.3 billion of adjusted EBITDA, up 14.5% year-over-year, and free cash flows of $812.4 million which includes the IRS settlement payment of $299.6 million. With approximately $1.6 billion of cash as of June 30, 2021, and a net leverage ratio of 1.5x, our balance sheet and liquidity position remain strong. We are well positioned to drive our organic growth initiatives and to deploy capital that meet OpenText's growth and returns based metrics."

For earnings history and earnings-related data on Open Text (OTEX) click here.

You May Also Be Interested In

• Gilead Sciences (GILD) Misses Q1 EPS by 288c
• Customers Bancorp (CUBI) Tops Q1 EPS by 3c
• Skechers USA (SKX) Tops Q1 EPS by 23c, Beats on Revenue; Offers FY24 Guidance