Open Text (NASDAQ: OTEX) reported Q4 EPS of $0.72, $0.04 better than the analyst estimate of $0.68. Revenue for the quarter came in at $754.3 million versus the consensus estimate of $730.69 million.

• Q4 Revenue of $754 million, up 14% Y/Y
• Annual Revenue of $2.82 billion, up 23% Y/Y
• Annual Operating Cash Flows of $710 million, up 62% Y/Y

"Our fourth quarter was a strong close to a record year, with $2.8 billion in total annual revenues and 23% year over year growth," said Mark J. Barrenechea, OpenText Vice Chair, CEO & CTO. "Fiscal 2018 demonstrates the strength of our Total Growth strategy that combines both acquisition and organic growth. Further, we completed 3 acquisitions in Fiscal 2018 (Covisint, Guidance Software and Hightail) and we enter Fiscal 2019 with a strong balance sheet."

Barrenechea added, "OpenText's Annual Recurring Revenue business grew 22% year over year to over $2 billion as we continued to expand our support, cloud, business networks and security product lines. We recently announced a new public SaaS platform, OpenText OT2, and Release 16 EP5, offering customers the next evolution of our products. OpenText is increasingly becoming a strategic technology partner to Global 10,000 companies as we scale and expand our value proposition, which positions us well for Fiscal 2019 and beyond.\"

"In Fiscal 2018, we generated over $1 billion of adjusted EBITDA and $710 million in Operating Cash Flows, which was up 62% over the prior fiscal year," said OpenText EVP and CFO, Madhu Ranganathan. "As we start Fiscal 2019, we are taking steps to further improve our operational efficiency and expand margins, which reinforces our ability to execute our M&A strategy and advance the Company toward our Fiscal 2021 objectives."

Ms. Ranganathan added, "Looking at Fiscal 2019 and beyond, today we are also announcing a restructuring plan to further streamline our operations and increase our agility as we look to execute on our Total Growth strategy. We will undertake the restructuring initiatives during Fiscal 2019 and the expected size of the plan will be approximately $29 million. Savings are anticipated to ramp over the course of the year, with full benefits realized in Fiscal 2020 and beyond."

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