License revenue down 5% on year ago quarter
Enterprise content management firm Open Text has reported revenue of $212.8m for the third quarter of fiscal 2010, up 11% compared to revenue of $192m for the same period last year. License revenue was down 5% to $49.5m compared to $51.9m for the same period a year ago.
Adjusted net income for the quarter ended March 31, 2010 was $40.3m, or $0.70 per share on a diluted basis, up 28% compared to $31.4m to or $0.59 per share for the same period last year.
Net income was $13.1m or $0.23 per share on a diluted basis, compared to $22.0m or $0.41 per share on a diluted basis for the same period a year ago. The cash and cash equivalents as of March 31, 2010 was $321.3m, compared to $275.8m as of June 30, 2009.
John Shackleton, president and chief executive officer at Open Text, said: “I am pleased that we maintained our margin targets and met our profit goals. We experienced greater seasonality than in previous years, however I’m confident that Fiscal 2010 is tracking to plan.
“With the addition of Nstein’s analytics-based search technology and a number of new product releases, we are delivering additional powerful solutions that will help our customers gain greater value from their content.”